Programs For WY 1st Time Buyers
First time home buyers in Wyoming have many options available to them for help in purchasing their first residence. In addition to their down payment assistance program, the Wyoming Community Development Authority (WCDA) some additional worthy programs for Wyoming residents seeking to purchase their first home.
Here are some highlights:
First-time Homebuyer Program
You must be a first-time homebuyer or you may not have owned a home, as your principal residence, in the last three years
You must be able to qualify for one of the three following loan types:
• FHA – Federal Housing Administration
• VA – Veterans Administration
• RD – Rural Development Guaranteed loan program
Your total annual family income must be at or below the income limits. See Income & Purchase Price Limits
The home you are purchasing must meet the WCDA purchase price limitations. See Income & Purchase Price Limits
Manufactured homes on permanent foundations that meet the requirements of FHA Mortgage Insurance are eligible. WCDA will finance a manufactured home under the FHA program only.
You must be purchasing a home on six (6) acres or less or on not more than one legal building site.
Military Preference Special Rate: WCDA offers a special rate for all active and veteran military borrowers, with proof of military status. It is a fixed rate for thirty years. The loan can be VA, RD, or an FHA insured loan. It does not have to be a VA loan.
Home Again Program – If you meet all of the WCDA First-time Homebuyer Program requirements and you are purchasing a WCDA – owned property, you may be eligible for a slightly lower interest rate under the Home Again Program. The Home Again Program is a reduced rate loan program, 30 year fixed rate mortgage to eligible first time homebuyers purchasing a WCDA REO property under our Standard Single Family Program. To view the REO properties, go to the WCDA Properties Listed for Sale section.
For complete details on these programs, including contact information and instructions on how to apply, please visit this WCDA program overview page.