Down Payment Assistance
Looking to buy a home with a lower upfront cost?
Down payment assistance programs can allow buyers to purchase a house even with little or no funds available to cover closing costs and the down payment. In some cases, we can help eligible borrowers combine multiple programs together to increase the affordability of the home buying process.
First Fed offers mortgage loans under the Washington State Housing Finance Commission (WSHFC), including several programs for down payment assistance (DPA). Each program has its own income criteria and other requirements, such as location. Our goal is to help home buyers who can afford monthly payments but may not have funds saved up to cover the down payment.
Statewide WSHFC down payment assistance programs include:
- Home Advantage DPA: From 3% to 5% of the first mortgage total or gross loan amount for borrowers using our Home Advantage loan programs.
- Home Advantage DPA Needs Based Option: Up to $10,000, for borrowers under certain income limits.
- Opportunity DPA: Up to $15,000 for borrowers using our House Key Opportunity loan.
- Veterans: Up to $10,000 for military veterans who have served our country.
- HomeChoice: Up to $15,000 for homebuyers with a disability or disabled family member living with them.
Down payment assistance programs for specific geographic areas:
- Seattle: Up to $55,000 for homebuyers within the Seattle city limits.
- ARCH East King County: Up to $30,000 for buyers within the ARCH member area of east King County.
- Bellingham: Up to $40,000 for people buying within Bellingham city limits.
- Tacoma: Up to $30,000 for buyers in Tacoma city limits.
Federal Home Loan Bank System (FHLB) programs:
- Home$tart: Up to $7,500 in down payment and closing cost assistance for eligible households.
- Native American Homeownership Initiative (NAHI): Up to $15,000 for down payment and closing cost assistance for eligible households.
Need more information? Set up time with a Mortgage Loan Officer to explore which down payment assistance options are available to you.
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