WCDA Spruce Up Purchase and Rehabilitation Loan

What is WCDA Spruce Up Purchase and Rehabilitation Loan?

WCDA Spruce Up Purchase and Rehabilitation Loan is a first mortgage for homebuyers in Statewide, Wyoming, administered by Wyoming Community Development Authority (WCDA).

• Spruce Up is WCDA's single-close purchase-and-rehabilitation first mortgage that finances both the purchase and the renovation of a home in one loan, reducing closing costs versus separate construction or home-improvement financing. Five major components - plumbing, heating, electrical, roof, and structure - must be addressed first if deficient, with no minimum repair cost. Borrowers can layer the 0% Home$tretch DPA second mortgage for down payment and closing-cost help.
• Finances purchase + rehab in a single closing.
• Fewer closing costs than bridge/construction loans.
• No minimum repair cost requirement.
• Can pair with 0% Home$tretch DPA.
• FHA and USDA-RD financing accepted.

Do you have to pay it back?

WCDA Spruce Up Purchase and Rehabilitation Loan is a first mortgage and is repaid under the terms set by Wyoming Community Development Authority (WCDA).

• Repayment is triggered by Repaid as a standard amortizing first mortgage.
• The assistance is recorded in First 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 Spruce Up Purchase and Rehabilitation Loan is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

WCDA Spruce Up Purchase and Rehabilitation Loan sets its income limit as follows: WCDA income and purchase price limits vary by product, family size, and county; posted at wyomingcda.com/purchase-price-income-limts. Total purchase price plus rehab cost must stay within the applicable county purchase price limit.

• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Is there eligibility for specific groups?

WCDA Spruce Up Purchase and Rehabilitation Loan names veterans, active-duty service members, and reservists and National Guard members 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 Spruce Up Purchase and Rehabilitation Loan serves buyers purchasing in Statewide, Wyoming.

• The program targets specific areas: Targeted-area census tracts in Albany and Natrona counties carry increased purchase price/income limits, and the FTHB requirement may not apply.

How do you apply?

Applications for WCDA Spruce Up Purchase and Rehabilitation Loan go through Wyoming Community Development Authority (WCDA), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Wyoming Housing Network, Inc. (whninc.org)..

2. 2

   Contact Wyoming Community Development Authority (WCDA) to reserve funds

   Funds are reserved through Reserved through a WCDA participating lender., and are subject to availability.

3. 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.