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Wyoming Community Development Authority

The Wyoming Community Development Authority (WCDA) offers the "Spirit of Wyoming Homeownership Initiative" to aid communities in attracting and retaining essential workers in health, education, and social services. Established in 1975 and non-political in nature, WCDA has provided over 64,000 fixed-rate mortgage loans with success rates reflected in high credit ratings. The program targets low to moderate-income households, allows new and existing home purchases, and supports military personnel and healthcare occupations. Average borrower income stands at $48,380 with an average home price of $165,663.

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Wyoming Community Development Authority

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  1. Wyoming Community Development Authority Bring Workers Home: 2009 Northwestern Regional Forum on Employer-Assisted Housing “Financing Affordable Housing in Wyoming”

  2. Wyoming Community Development Authority • Instrumentality of the State, not a political subdivision • Established in 1975 • WCDA does not receive state funding • 64,000 single family mortgage loans • Fixed rate, fully amortizing, fully documented loans • 1994 Aa1 rating by Moody’s, AA+ S&P • 1978 Aa2 rating by Moody’s, AA+ S&P • Strength of management and professional team

  3. Spirit! of Wyoming Homeownership Initiative • Created to help Wyoming communities recruit and retain workers in certain occupations that are critical to the health & vitality of the communities • 30-year mortgage program with specific income and purchase price limits

  4. Spirit! of Wyoming Homeownership Initiative • Eligible classifications: • Active military & military veterans • Community & social service occupations • Education, training, and library occupations • Healthcare practitioners & technical occupations • Healthcare support occupations • Protective service occupations

  5. Spirit! of Wyoming Homeownership Initiative • Applicants do not have to be first-time homebuyers • Loan can be used for new construction or existing homes • Purchase price limit: $236,000 • Income limits vary by county – based on HUD’s Area Median Income

  6. Spirit! of Wyoming Homeownership Initiative • Interest rate: • Years 1 through 3 ……………….. 5.00% • Years 4 and 5 ……………………….. 5.25% • Years 6 through 30……………… 5.50%

  7. Spirit! of Wyoming Homeownership Initiative • Statistics: • Total number of Spirit! loans: 204 • Healthcare Support: 31% • Education: 29% • Military: 24% • Protective Service: 12% • Community & Social Service: 4% • Average income of borrowers: $48,380 • Average purchase price of homes: $165,663

  8. Spirit! of Wyoming Homeownership Initiative • Statistics • Average age of borrowers: 33 • 55% Single • 40% Married • 5% Unmarried Couple • Existing Homes: 88% • New Construction: 22% • Has been utilized in 13 counties

  9. Wyoming Community Development Authority www.wyomingcda.com (307) 265-0603 David Haney Executive Director haney@wyomingcda.com

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