Down Payment Path

Down Payment Assistance Programs in Wyoming

Wyoming offers several down payment assistance programs designed to help homebuyers manage the upfront costs of purchasing a home. These programs are available to both first-time and repeat buyers, ensuring that homeownership is within reach for many residents of the Cowboy State.

Wyoming Housing Network (WHN) Advantage Program

The WHN Advantage Program, offered by the Wyoming Housing Network, provides financial support to assist with down payments and closing costs.

  • Offers up to 4% of the home’s purchase price for down payment assistance.
  • Available as a second mortgage with a low interest rate and a 10-year repayment term.
  • Can be paired with FHA, VA, USDA, and conventional loans.
  • Open to buyers who meet specific income and purchase price limits.

Home$tretch Down Payment Assistance

The Home$tretch program provides additional financial assistance for down payments and closing costs to qualified buyers.

  • Provides up to 6% of the home’s purchase price or $10,000, whichever is less, for down payments and closing costs.
  • Available to both first-time and repeat buyers.
  • Must be used in combination with a WHN mortgage loan product.

USDA Rural Development Loans

For buyers in rural areas of Wyoming, the USDA Rural Development Loan provides affordable financing options with no down payment requirement.

  • Open to low- and moderate-income buyers in USDA-eligible rural areas.
  • Features flexible credit requirements and competitive interest rates.
  • Can be paired with WHN assistance programs to cover closing costs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program offers homebuyers a federal tax credit, reducing the overall cost of homeownership.

  • Allows buyers to claim a tax credit on a portion of their annual mortgage interest payments.
  • Can be combined with WHN loans and down payment assistance programs.
  • Income and purchase price limits apply but accommodate many buyers.

Local Assistance Programs

Several cities and counties in Wyoming offer additional programs to help homebuyers with down payments and closing costs.

  • Programs in cities like Cheyenne and Casper may provide grants or low-interest loans for homebuyers in specific target areas or public service roles.
  • Eligibility and funding amounts vary by location and program specifics.

Wyoming’s down payment assistance programs are designed to help reduce the financial barriers to homeownership. Whether you are purchasing your first home or upgrading, these resources are available to assist you in achieving your homeownership goals in Wyoming.