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Applying for a WCDA Loan

If you are thinking about buying a home in the next few years, your first step in the process should be to enroll in the Homebuyer Education course offered through the Wyoming Housing Network. The course offers a comprehensive online class in all aspects of home buying and a one-on-one budgeting session. The cost is $50.00

To begin the process of applying for a WCDA loan you will need to:


  1. Schedule an appointment with the participating lender of your choice for pre-qualification. Your lender will be able to help you determine whether or not you can qualify for a WCDA mortgage loan and also help you determine what price range of home you can afford. WCDA offers several mortgage loan programs with different eligibility requirements. See WCDA Homebuyer Programs for more information.

  2. You will need to bring the following items to determine whether you qualify for a WCDA loan:

    • Identification
    • Addresses of residences for most recent two years
    • Two months most recent pay stubs for all borrowers
    • Past three years income tax returns with W-2 forms
    • Evidence of any other income sources
    • List of debts with account numbers, balances and payment amounts
    • Most recent bank statements for checking and savings accounts

    The lender may request additional information about child care, discharge of debt, letters of explanation for gaps in employment, and other items needed to ensure your credit worthiness.

  3. Find a home that suits your needs and meets program requirements

  4. Get a signed purchase contract for the home. A real estate agent will help you to find a home and negotiate the contract. Ask family and friends for advice on selecting a real estate agent.

  5. Schedule a follow-up appointment with your lender to apply for the mortgage loan.

In qualifying you as a first-time homebuyer, the lender will ask you for copies of your federal income tax returns for the past three years. The lender customarily charges a fee for an appraisal and credit report at the time of application. This fee will usually be around $500.
Your loan application will move more quickly if you have all your financial information with you at the time you meet with your lender to apply.

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