WCDA Program
WCDA – Wyoming
Self-Supporting State Resource
WCDA was created by state statute as a body corporate operating as an instrumentality of the state and receives no state funding. WCDA raises capital for the mortgages it provides by selling mortgage revenue bonds to investors. Since the interest paid to bond holders is generally exempt from federal income tax, investors accept a lower rate. The WCDA passes these savings on to homebuyers by providing mortgages at below-market interest rates. The homebuyers’ mortgage payments repay the bonds.
Participating Lenders
The WCDA offers its mortgages in cooperation with participating Wyoming lenders. Housing programs administered by the WCDA are conducted in partnership with these lenders, as well as builders and developers, cities and counties, non profit organizations and local housing authorities. This broad coalition works together to provide affordable housing to Wyoming’s citizens.
WCDA and the Future of Wyoming
There is no question that Wyoming’s families need decent, affordable housing. WCDA has an important role in providing that housing, and in helping families take a first step on the road to fulfilling their American dream. In addition, every home built, rehabilitated or financed with WCDA funds means more Wyoming jobs and greater economic stability. Strong federal housing programs also help the WCDA continue to prove decent, affordable homes to Wyoming citizens.
http://www.wyomingcda.com/index.php?option=com_frontpage&Itemid=1
