WHEDA home loan features a low down payment and a low-cost interest rate for home buyers. The rate is fixed for the term of your loan. Just about any home will qualify. To be eligible you must: be a first-time home buyer or it has been at last three years since you owned a home; have good credit and a steady income; a small down payment; your income is less than the WHEDA limit for the county where you will buy your home. You may also qualify for a Home Plus Loan which allows you to borrow money to help you pay for your down payment, closing costs or future home repairs.