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PRESENTED BY

Cindy Jenson Manager, Single Family Credit WHEDA. PRESENTED BY. WHEDA allocation $6.2 million Down payment and Closing Costs Loan loss reserve. NSP Funds Allocation. Purchase of foreclosed homes or home rehabbed by non profit using NSP funds Eligible counties. Product description.

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PRESENTED BY

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  1. Cindy Jenson • Manager, Single Family Credit • WHEDA PRESENTED BY

  2. WHEDA allocation $6.2 million • Down payment and Closing Costs • Loan loss reserve NSP Funds Allocation

  3. Purchase of foreclosed homes or home rehabbed by non profit using NSP funds • Eligible counties Product description

  4. Adding repairs into the loan • $24,999 maximum repair cost • 105% CLTV • Challenges Property rehabilitation

  5. Developing Underwriting Guidelines • How to comply to HOME HHR • Other NSP subgrantees allocations • Investor requirements Challenges

  6. New Investor • Revised NSP funds usage Resolutions

  7. 25% not to exceed $35,000 • 50% not to exceed $50,000 Down payment

  8. 80 preapprovals • 28% of preapprovals to very low income • Closed 6 loans and 1 grant only • Average loan amount $78,500 Product activity

  9. Seasonal repair issue • SAFE Act • Appraised Value Current challenges

  10. For more information, please call 800.334.6873 or visit www.wheda.com Wisconsin Housing and Economic Development Authority 201 West Washington Ave ! Madison, WI 53703 !www.wheda.com we do so you can.

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