There are a variety of ways homebuyers can approach purchasing their first home.
We wanted to take a moment to highlight them all and these are not exclusively for those looking to buy in Laramie County, or Cheyenne, Wyoming, but anywhere you may be looking to locate. We simply want to set you up for success and ensure you are ready to consult a lender about the various financial vehicles when you are ready to buy your very first home!
- FHA loan: This is the go-to loan program for buyers with weaker credit and is one that you can use if you are coming to the table with less than the recommended 20% down payment.
- VA loan: No down payment loans for borrowers with a military connection and there are other programs available for veterans that can be found in your community.
- USDA loan: 100% financing on rural properties is offered and this is a great option for folks who are considering land in the county area.
- Fannie and Freddie: Conventional loans with just 3% down is another great option for those who do not have enough for a 20% down payment.
- State first-time homebuyer program: Assistance specifically for residents is offered in Wyoming with the WCDA program. Typically this is taking out a 2nd mortgage at the same time as the first to cover the closing costs.
- Home renovation loan: Buy a home and remodel it with one loan, this is often used for homes that require updates and were purchased for a lower market amount.
- Good Neighbor Next Door: Home price discounts for first responders and educators, and there other programs available like Homes for Heroes and others.
- Dollar Homes: Foreclosed homes for sale by the government can allow you to get a lower than the market rate for the purchasing price.
Are you ready to buy? Give us a call (307) 635-0303, we will connect you with a trusted real estate professional to answer any of your questions and get you started down your real estate journey path.