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Wyoming Community Development Authority. Bring Workers Home: 2009 Northwestern Regional Forum on Employer-Assisted Housing. Wyoming Community Development Authority. Instrumentality of the State, not a political subdivision Established in 1975 WCDA does not receive state funding

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wyoming community development authority

Wyoming Community Development Authority

Bring Workers Home:

2009 Northwestern Regional Forum on Employer-Assisted Housing

“Financing Affordable Housing in Wyoming”

wyoming community development authority1
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
spirit of wyoming homeownership initiative
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
spirit of wyoming homeownership initiative1
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
spirit of wyoming homeownership initiative2
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
spirit of wyoming homeownership initiative3
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%
spirit of wyoming homeownership initiative4
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
spirit of wyoming homeownership initiative5
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
wyoming community development authority2
Wyoming Community Development Authority

www.wyomingcda.com

(307) 265-0603

David Haney

Executive Director

haney@wyomingcda.com