Down Payment Grants For Washington State 1st Time Buyers

Washington State Housing Finance Commission (WSHFC) provides financial aid to help first time home buyers with the down payment. The statewide maximum income that you can earn to qualify for this program is $97,000 annually.

Washington First Time Home Buyer GrantsThis second mortgage loan program has a 0% interest rate, with payments deferred for 30 years, and combines with the Home Advantage first mortgage loan program. First time home buyers can get up to 4% of the amount of the total loan in down payment assistance. Therefore, if you borrow $200,000 to purchase a residence, you could get $8,000 towards the down payment. This $8,000 would not be a grant, and would have to be repaid in 30 years, or when you sell your home. However, there is no interest charged on the loan, so the amount that you would have paid in interest is in effect granted to you.

To find out more about this Washington first time home buyer grant program, visit the WSHFC webpage here.

Or if you have questions about the Home Advantage Downpayment Assistance Loan Program, please call Karen Carlson-Bunce at 206.287.4413 or toll free at 800.767.4663Ā FREE, Ext. 413

Her email is: