Frequently, the WCDA has funding available for 30-year deferred loans to WCDA homebuyers who meet the requirements of this program. Eligible homebuyers may receive up to $2,000 for down payment and closing costs after contributing a minimum of $500 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 to lower-income borrowers (Download the HUD income chart The income limit for the Homebuyer Assistance Loan is the low-income number by family size for the county in which the residence is located). Full payment of this loan plus three percent interest is due if the borrower should ever fail to occupy the property as his/her principal residence or should transfer the property during the first 30 years. If the borrower lives in the property for 30 years, the loan is forgiven.