These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Washington

Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Washington State Housing Finance Commission (WSHFC) – Home Advantage Program

  • Assistance: Provides up to 5% of the loan amount for down payment and closing costs.

  • Terms: 0% interest second loan, repaid when the home is sold, refinanced, or paid off.

  • Eligibility: First-time and repeat homebuyers with a credit score of at least 620; income limits vary by county and household size.

  • More Information: WSHFC Home Advantage Program

WSHFC – House Key Opportunity Program

  • Assistance: Provides affordable fixed-rate mortgages with down payment assistance options.

  • Terms: Standard mortgage repayment terms.

  • Eligibility: First-time homebuyers meeting income and purchase price limits.

  • More Information: WSHFC House Key Opportunity

WSHFC – Opportunity Downpayment Assistance Loan Program

  • Assistance: Offers up to $15,000 as a second mortgage with a 1% interest rate, deferred for 30 years.

  • Eligibility: Borrowers using the House Key Opportunity first mortgage program.

  • More Information: WSHFC Downpayment Assistance

WSHFC – HomeChoice Down Payment Assistance Program

  • Assistance: Provides up to $15,000 for buyers with a disability or those with a disabled family member.

  • Terms: Deferred second mortgage at 1% interest, repayable upon sale, transfer, refinancing, or payoff of the first mortgage.

  • More Information: WSHFC HomeChoice Program

WSHFC – Veterans Downpayment Assistance Loan Program

  • Assistance: Offers up to $10,000 to eligible veterans.

  • Terms: Deferred second mortgage at 3% simple interest, repayable upon sale, transfer, refinancing, or payoff of the first mortgage.

  • More Information: WSHFC Veterans Assistance

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Seattle – Down Payment Assistance Program

  • Assistance: Provides up to $55,000 in down payment and closing cost assistance.

  • Terms: Forgivable loan after 15 years if the buyer remains in the home.

  • Eligibility: Homebuyers purchasing within Seattle city limits; income limits based on HUD guidelines.

  • More Information: Seattle Down Payment Assistance

Tacoma – Down Payment Assistance Program

  • Assistance: Provides up to $20,000 in down payment and closing cost assistance.

  • Terms: Forgivable after a set period.

  • Eligibility: Homebuyers purchasing in Tacoma; income limits based on HUD guidelines.

  • More Information: Tacoma Homebuyer Assistance

ARCH East King County – Downpayment Assistance Loan Program

  • Assistance: Provides up to $30,000 in down payment assistance.

  • Terms: Deferred second mortgage at 4% simple interest, repayable upon sale, transfer, refinancing, or payoff of the first mortgage.

  • Eligibility: Qualified borrowers purchasing in an ARCH member city or area in East King County.

  • More Information: WSHFC ARCH East King County

Bellingham – Down Payment Assistance Program

  • Assistance: Offers up to $40,000 in down payment and closing cost assistance.

  • Terms: Deferred second mortgage at 3% simple interest, repayable upon sale, transfer, refinancing, or payoff of the first mortgage.

  • Eligibility: Homebuyers purchasing within Bellingham city limits.

  • More Information: Bellingham Homebuyer Assistance

Pierce County – Down Payment Assistance Program

  • Assistance: Provides up to $24,900 in down payment assistance.

  • Terms: Deferred second mortgage at 4% simple interest, repayable upon sale, transfer, refinancing, or payoff of the first mortgage.

  • Eligibility: Homebuyers purchasing in Pierce County, excluding Tacoma, Lakewood, Bonney Lake, Auburn, and Pacific.

  • More Information: WSHFC Pierce County

Kennewick – First-Time Homebuyers Down Payment Assistance Program

  • Assistance: Offers up to $10,000 in assistance.

  • Terms: Deferred loan with specific terms available upon inquiry.

  • Eligibility: First-time homebuyers purchasing within Kennewick city limits.

  • More Information: Kennewick First-Time Buyer Program

Additional Resources

HomeSight Purchase Assistance

  • Services: Provides various down payment assistance options, including programs specific to Seattle, King County, and Snohomish County, as well as statewide assistance.

  • More Information: HomeSight WA

Program availability and terms can change, so it's essential to verify the most current information directly with the administering agencies.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.