What is 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 $1,500 minimum borrower contribution (may be a gift).
- Repayment deferred until sale, refinance, or 30-year maturity.
- Funding comes from WCDA (Housing Finance Agency; raises capital via tax-exempt mortgage revenue bonds; receives no state funding).
How much assistance does it provide?
WCDA Home$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 buyers to contribute $1,500 minimum borrower contribution required (may be a gift).
- The program can be combined with other assistance, subject to the rules of each.
- Amounts are the program's published maximums, not an offer — Wyoming Community Development Authority (WCDA) determines any individual award.
Do you have to pay it back?
WCDA Home$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.
Who qualifies?
WCDA Home$tretch DPA Loan Product is open to first-time homebuyers and buyers who will live in the home as their primary residence.
The program requires
- ✓First-time homebuyer — with exceptions: 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.
- ✓The home is occupied as a primary residence
- ✓On credit: 620 minimum FICO score
- ✓A completed homebuyer education course, through Wyoming Housing Network, Inc. (online class plus one-on-one counseling; register at www.whninc.org); fee applies.
- ✓DRAFT (dpa-gap-finder 2026-06-12): pending admin review. 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.
The program excludes
- ✕Purchases above the $544,232 price cap
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
What are the income limits?
WCDA Home$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/$139,020.
- The limit applies to total household income, not only the borrower’s.
- Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.
What kind of home can it be used for?
WCDA Home$tretch DPA Loan Product caps the purchase price at $544,232.
- Eligible property types include Single Family.
- New construction is eligible.
- Manufactured homes are eligible.
Is there eligibility for specific groups?
WCDA Home$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.
Where does it apply?
WCDA Home$tretch DPA Loan Product serves buyers purchasing in Statewide, Wyoming.
How do you apply?
Applications for WCDA Home$tretch DPA Loan Product go through Wyoming Community Development Authority (WCDA), which publishes the current terms and the application steps on its own site.
- 1
Take a homebuyer education course
Required by the program, through Wyoming Housing Network, Inc. (online class plus one-on-one counseling; register at www.whninc.org); fee applies..
- 2
Contact Wyoming Community Development Authority (WCDA) to reserve funds
Funds are reserved with the provider and are subject to availability.
- 3
Work with a lender who handles the program
Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.