WCDA Home$tretch DPA Loan Product

WCDA Home$tretch DPA Loan Product is a deferred second loan for homebuyers in Statewide, Wyoming, administered by Wyoming Community Development Authority (WCDA). Home$tretch is WCDA's deferred-payment down payment assistance (DPA) loan product. It covers down payment, closing costs, and prepaids with a 0% interest second mortgage of up to $15,000. There are no monthly payments; the loan is due upon sale, refinance, or 30-year maturity. It is paired only with WCDA's Standard First-Time Homebuyer and Spruce Up first mortgages, distinguishing it from the cataloged WCDA Amortizing DPA product. 0% interest. No monthly payment. Up to $15,000. Only $1,500 minimum borrower contribution (may be a gift). Repayment deferred until sale, refinance, or 30-year maturity. Funding comes from WCDA (Housing Finance Agency; raises capital via tax-exempt mortgage revenue bonds; receives no state funding).

WCDA Home$tretch DPA Loan Product offers up to $15,000 in assistance. Award tiers: WCDA offers two DPA products: (1) Home$tretch (0% deferred, this record), used only with Standard FTHB and Spruce Up; and (2) Amortizing DPA (fixed-rate, up to 10-yr term), used only with HFA Preferred or Advantage. The program asks homebuyers to contribute $1,500 minimum borrower contribution required (may be a gift). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — Wyoming Community Development Authority (WCDA) determines any individual award.

WCDA Home$tretch DPA Loan Product is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Due upon sale of the home, refinance, or 30-year maturity (no monthly payments). The assistance is recorded in Second mortgage / subordinate lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

WCDA Home$tretch DPA Loan Product is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Tied to the Standard FTHB product (no ownership interest in a principal residence in last 3 years); FTHB requirement may be waived for honorably discharged Veterans and in designated targeted census tracts in Albany and Natrona counties. On credit, the program states: 620 minimum FICO score. A homebuyer education course is required, through Wyoming Housing Network, Inc. (online class plus one-on-one counseling; register at www.whninc.org); fee applies. DISTINCT from the cataloged 'WCDA Amortizing DPA Loan Product'. Minimum 620 FICO; $1,500 minimum borrower contribution; homebuyer education via Wyoming Housing Network required; must meet the paired first mortgage's purchase price and income limits; owner-occupied principal residence.

WCDA Home$tretch DPA Loan Product sets its income limit as follows: Tied to the first mortgage total family household income limits (vary by county and family size per IRS rules). As of 6/16/2025: most counties $99,300 (size 1-2)/$114,195 (size 3+); higher in Campbell, Lincoln, Sheridan, Sublette, Sweetwater, Albany, Converse, Crook, Uinta, Weston, Park; Teton highest at $169,800/$198,100; targeted census tracts (Laramie TC 4.03, Natrona TC 2) $119,160/$139,020. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

WCDA Home$tretch DPA Loan Product caps the purchase price at $544,232. Eligible property types include Single Family. New construction is eligible. Manufactured homes are eligible.

WCDA Home$tretch DPA Loan Product names veterans among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

WCDA Home$tretch DPA Loan Product serves homebuyers purchasing in Statewide, Wyoming.

Applications for WCDA Home$tretch DPA Loan Product go through Wyoming Community Development Authority (WCDA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.