Back to Types of Financing525 Randall Ave.
Cheyenne, WY  82009
307-632-0001

WCDA is the abbreviation for Wyoming Community Development Authority, the investor who offers a lower than market interest rate to encourage first time homebuyers to invest in Wyoming. WCDA allows financing under all three categories - Conventional, FHA, and VA. The borrowers must first be able to qualify under that category and then also within WCDA income limits, purchase price limits, and homeownership requirements. You'll need to be aware of two major considerations before you go with WCDA:

  1. you may have to pay a recapture tax if you sell your home within the first 9 years;
  2. you are not allowed to rent out your home or use it in any commercial endeavor as long as it is financed through WCDA.

Understanding this, if you fit within these parameters, WCDA can be the best way for you to finance your home. Another HUGE advantage to using WCDA to purchase your home is that they also offer a 2nd mortgage for the down payment and closing costs which reduces your initial cash investment to around $1000.