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First-time Homebuyer Program

You must be a first-time homebuyer or you may not have owned a home, as your principal residence, in the last three years

You must be able to qualify for one of the three following loan types:

• FHA - Federal Housing Administration
• VA - Veterans Administration
• RD - Rural Development Guaranteed loan program

Your total annual family income must be at or below the income limits. See Income & Purchase Price Limits

The home you are purchasing must meet the WCDA purchase price limitations. See Income & Purchase Price Limits

Manufactured homes on permanent foundations that meet the requirements of FHA Mortgage Insurance are eligible. WCDA will finance a manufactured home under the FHA program only.

You must be purchasing a home on six (6) acres or less or on not more than one legal building site.

Military Preference Special Rate: WCDA offers a special rate for all active and veteran military borrowers, with proof of military status. It is a fixed rate for thirty years. The loan can be VA, RD, or an FHA insured loan. It does not have to be a VA loan.

Home Again Program - If you meet all of the WCDA First-time Homebuyer Program requirements and you are purchasing a WCDA – owned property, you may be eligible for a slightly lower interest rate under the Home Again Program. The Home Again Program is a reduced rate loan program, 30 year fixed rate mortgage to eligible first time homebuyers purchasing a WCDA REO property under our Standard Single Family Program. To view the REO properties, go to the WCDA Properties Listed for Sale section.