Down Payment
Assistance
Sponsored by the WSHFC
Through local partnerships, the Washington State Housing Finance Commission (WSHFC) helps homebuyers learn how to purchase and maintain a home. WSHFC-sponsored homebuyer education seminars are the first step in purchasing a home. They are free and open to the public, include information about the WSHFC's first mortgage programs, downpayment assistance, and other loan programs; and may be accepted by other affordable housing loan programs as meeting or exceeding educational requirements.
FAQ's
How can I get this assistance?
First, you must use a Commission trained loan officer, which I am.
Downpayment assistance is for homebuyers who use the WSHFC home loan programs, either Home Advantage or Opportunity. If your household income is under the program limits (up to $180,000) and you’re otherwise qualified for a home loan, you are probably eligible.
How much assistance can I get?
It varies by program, but $10,000 is the average amount for a typical homebuyer.
So it’s a loan that I pay back?
Yes. The interest rate is very low, from 0% to 4%, depending on the program. It is wrapped into your main home mortgage, so you don’t have two bills to pay. Also, most of our downpayment loans are payment deferred—meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out, or refinance the property.
You have a lot of downpayment programs. How do I know which one is right for me?
Email me or call me! I am a WSHF Commission-trained Loan Officer and approved to originate these loan programs. With information about your location, household size, and income, I can provide recommendations specific for you.