WHEDA

Insure Your WHEDA Advantage Conventional Loans with Arch MI

WHEDA (Wisconsin Housing and Economic Development Authority) has a conventional, conforming first-mortgage program called WHEDA Advantage Conventional. It’s part of the WHEDA Advantage group of first-mortgage products.

Arch MI is an approved mortgage insurance provider for WHEDA Advantage, supporting the goal of expanding homeownership in Wisconsin.

Arch MI insures eligible WHEDA Advantage Conventional loan applications that meet our published underwriting requirements.

  • Up to a 97% LTV, with minimum 620 credit score for 1-unit properties.
  • Borrower Contribution – gifts or grants may be used for down payment for some transactions.
  • Purchase and rate/term refinance transactions are eligible.
  • CLTV: Maximum 105% CLTV (95% CLTV for manufactured housing) when using a WHEDA Easy Close Advantage or other Down Payment Assistance Program in conjunction with an Arch MI-insured first-lien mortgage.
  • DTI: Maximum per DU on AUS underwrites; Maximum 45% DTI on manual underwrites.

For WHEDA loans that fall outside Arch MI’s published requirements or for any other questions, please contact Account Manager Joe Doyle at 414-526-9510 or [email protected].

Fulfilling WHEDA’s Homebuyer Education Requirement

We have teamed up with the Housing Education Program to meet the WHEDA Advantage Conventional homebuyer education requirements:

Online, self-paced option for WHEDA Advantage Conventional loans

The WHEDA-approved homebuyer education course supports WHEDA borrowers in becoming successful homeowners over the long term.

Homebuyer education is available to eligible borrowers when the WHEDA Advantage Conventional home loan is approved by WHEDA and Arch MI for mortgage insurance coverage, and a Certificate number is issued.