Single Family Mortgage Loan Program 

Below is only a summary.  Please reference the Administrator’s Guidelines for details.

ADMINISTRATOR GUIDELINES   
PARTICIPATING LENDERS   
PROGRAM FUNDS
  • Continuous Funding
RESERVATIONS
  • eHP System available 24/7, 365:
  • Reservations Locks are open on business days 10:00 am – 8:00 pm EDT
LOAN TIMELINE REQUIREMENTS DO NOT RESERVE EARLY.   Borrower should be qualified prior to reserving in the program. 

  • Loan MUST be UW Certified prior to closing
  • 70 calendar days
ELIGIBLE AREAS 
  • Wyoming Statewide – unassisted rates 
  • Albany, Campbell, Carbon, Converse, Fremont, Goshen, Johnson, Laramie, Natrona, Niobrara, Park, Platte, Sheridan, Sweetwater and Uinta counties – 2nd Lien Program
ELIGIBILITY CRITERIA 
  • There is no first-time home buyer requirement in this program.
  • Borrower(s) & spouses must be able to permanently reside in the US. (Visas do not qualify)
  • Principal residence, must occupy the property within 60 days of closing.
ELIGIBLE LOAN TYPES

  • FHA, VA, USDA
  • Freddie Mac 80% AMI and below  
  • Freddie Mac OVER 80% AMI  
DPA 
  • 3 year Forgivable Second – FHA, VA, Fannie, Freddie
  • Effective with reservations as of 1/31, USDA will be a GRANT
INCOME LIMIT CRITERIA  
  • see guidelines
HOME ACQUISITION LIMITS
HOME BUYER EDUCATION
FICO/DTI REQUIREMENT
CO-SIGNERS
LENDER PARTICIPATION
  • Approval by the Cheyenne Housing Authority and Master Servicer. See Participating Lender Tab
FORMS AND DOCUMENTATION
  • All forms and guidelines are located within the system. Login, and select FORMS.
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • To contact US Bank Lender Help Desk, Click here.

 Reservation/locks – AVAILABLE from 8:00am-6:00pm Mountain (10-8 EDT excluding weekends & holidays)

 

Options / Offerings  FICO DPA Lock Rate
Unassisted & Grants
 
FHA, USDA, VA 640
w/o 5.500%
Fannie  Mae & Freddie Mac both at 80% AMI w/o 6.000%
USDA 3% 7.125%
USDA 4% n/a
   
Options / Offerings  FICO DPA  
GOVERNMENT   
FHA, VA 640 2% 6.625%
FHA, VA  3%  7.125%
FHA, VA 4% n/a
FHA, VA 5% n/a
FANNIE MAE 80% AMI & FREDDIE MAC 80% AMI    
Fannie  Mae & Freddie Mac both at 80% AMI 640 2% 6.875%
Fannie  Mae & Freddie Mac both at 80% AMI 3% 7.375%
Fannie  Mae & Freddie Mac both at 80% AMI 4% n/a
FANNIE MAE OVER 80% AMI    
Fannie Mae OVER 80% AMI
640
2% 7.250%
Fannie Mae OVER 80% AMI 3% n/a

Borrowers should be qualified prior to locking reservation.

  • All Loans as per above Assistance
  • 30 Year, Fixed Rate, Amortized
  • Manual underwriting for FHA loans is NOT ACCEPTED
  • The System will automatically calculate the DPA based on the final loan amount
  • MH – Manufactured Housing permitted on some of the above options.  See guidelines for details.

 

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