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HFA Preferred With Mortgage Insurance (MI)

  • Conventional mortgage loan financing requiring private mortgage insurance for a loan-to-value (LTV) above 80%

  • Maximum LTV = 97% or as approved by DU or LP*

  • No first-time homebuyer requirement

  • Your total annual family income must be at or below the WCDA income limits for this program

  • No purchase price limit

  • You must be purchasing a home on six (6) acres or less

  • Minimum of 620 FICO, or per DU/PR

  • Maximum 30 year term

  • Maximum loan amount: $424,100

  • Eligible for limited cash out refinancing

*DU (Desktop Underwriter) is an automated underwriting systems used by Fannie Mae and may require higher credit scores or higher down payment than the minimum depending on each individual borrower's situation.

WCDA news

Closed August 21, 2017 for Solar Eclipse

WCDA will be closed all day Monday, August 21st, 2017 for the Solar Eclipse event.…read more »

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