Home Buyer Assistance Programs

For many people, the cash down payment required to buy a home is a significant hurdle. 
There are programs that help you with down payments to buy a home!

How can I get this assistance?
Through the Washington State Housing Finance Commission: Down payment assistance is only for homebuyers who use our home loan programs, either Home Advantage or Opportunity.

If your household income is under the program limits (up to $180,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible.

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How much assistance can I get?
It varies by program, but $10,000 - $15,000 is the average amount for a typical homebuyer.

Here is just a sample: (there are many others)

Home Advantage DPA
Up to 3% or 4% of the first mortgage total or gross loan amount for borrowers using our Home Advantage Gov’t or Conventional loan programs or up to 5% using Home Advantage conventional or FHA.

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Home Advantage DPA Needs Based Option
Up to $10,000, for borrowers using our Home Advantage loan and under certain income limits.

Opportunity DPA
Up to $15,000, for borrowers using our House Key Opportunity loan.

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Veterans
Up to $10,000 for military veterans who have served our country.

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HomeChoice
Up to $15,000 for buyers with a disability or disabled family member living with them.

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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 down payment loans are payment deferred—meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out of or refinance the property.

How do I know which one is right for me?
Fill out this quick form to get more information and we'll talk about which programs suit you the best.