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by CareyBot

Wisconsin's state housing finance authority will begin writing loans on March 1 for the first time in 18 months thanks largely to a $23.5 billion Treasury Department program geared at helping state and local housing finance agencies finance more than 200,000 home purchases.The Wisconsin Housing and Economic Development Authority (WHEDA) will raise $325 million selling long-term bonds through the Treasury's temporary financing program, providing it with lower-cost cash to fund its investment in single-family mortgages.WHEDA also says it will be the first housing finance agency (HFA) to offer Fannie Mae's new Affordable Advantage mortgage, a low-cost, 30-year fixed-rate loan that provides 100 percent financing for first-time homebuyers with excellent credit.The loans require as little as $1,...