This program provides assistance with down payment and closing costs to WCDA first-time homebuyers. This program places a second mortgage on the property of up to $10,000. Interest rates on this second mortgage may vary depending on the income of the homebuyer. The term on the loan may be any where from 1 month to 96 months. The minimum payment must be $25.00. The program requires a minimum cash investment of 2% of loan amount or $1,500 (whichever is greater(of their own funds toward the cash requirements at closing. These loans are offered in conjunction with the standard WCDA loans through WCDA participating lenders.