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FIRST-TIME HOME BUYER

First Time Homebuyers

Type Of Program

Down Payment & Closing Costs

Program distribution

Deferred Second Mortgage

Program Originator

WYOMING COMMUNITY DEVELOPMENT AUTHORITY

Amount

$0.00

Contact

Blocks

Location
Nationwide
Description

  • WCDA’s Down Payment Assistance (DPA) loan products help borrowers achieve their dream of homeownership. These products assist borrowers with their down payment, closing costs, and prepaids. Each DPA loan product has these basic features:

  • $10,000 maximum loan amount
  • 620 minimum credit score
  • $1,500 minimum borrower contribution required (may be a gift)

  • Home$tretch DPA Loan Product

  • May be used with the First-time Homebuyer and Spruce Up products only
  • 0% interest rate and 0.080% APR based on an average loan amount of $5,500
  • No monthly payment
  • Due upon sale of the home, refinance or 30 year maturity

  • Amortizing DPA Loan Product

  • May be used with the HFA Preferred (with MI or no MI) and Advantage products only
  • Fixed interest rate
  • Fully amortizing, low monthly payments
  • Maximum 10 year term
AMI Limit

No

AMI

Employer Participation Required

No

Must Earn Counseling Certificate

No

Eligibility Limitations

Cash Sale Permitted

No

Cosigner Permitted

No

Owner Financing Permitted

No

Must be Primary Residence

No

Program Provider's Contact Name

WYOMING COMMUNITY DEVELOPMENT AUTHORITY

Program Provider's Address

Program Provider's Phone

(307) 265-0603

Program Provider's Email

INFO@WYOMINGCDA.COM

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