This down payment assistance program is offered as a 0% interest second mortgage to be used with a HomeAdvantage mortgage loan. Payments on this loan are deferred for up to 30 years.
Applicants can qualify for as much as 4% of their first mortgage in assistance funds.
For those applying for the need-based option of down payment assistance, applicants are eligible to receive as much as $10,000. The need-based option has a 1% interest rate. Veterans can be eligible for this loan without meeting the need requirement.
A homebuyer seminar is required for both options.
Applicants also must fall within defined income limits.
Other programs in Washington:
- Tacoma Down Payment Assistance Program
- Seattle Downpayment Assistance Program
- Pierce County Downpayment Assistance Program
- Opportunity Downpayment Assistance Loan Program
- HomeChoice Down Payment Assistance Program
- Bellingham Downpayment Assistance
- ARCH East King County Downpayment Assistance Loan
- Veterans Downpayment Assistance Loan Program