Programs In WA For 1st Time Home Buyers
First time home buyers in Washington have many options available to them for help in purchasing their first residence. The Washington State Housing Finance Commission (WSHFC) provides some very advantageous programs for Washington state residents seeking to purchase their first home.
Here are some highlights:
FIRST MORTGAGE LOAN PROGRAM
Home Advantage Rates | House Key Opportunity Rates
Interest Rate* 30-year fixed: Origination Fee Points** Effective 12/09/2016 at: FHA and VA Loans: 4.375% 1% 0 9:00 AM 4.625% 0% 0 9:00 AM Energy Spark: 4.125% 1% 0 9:00 AM USDA Rural Development Loans: 4.375% 1% 0 9:00 AM 4.625% 0% 0 9:00 AM EnergySpark: 4.125% 1% 0 9:00 AM Conventional HFA Preferred Loans: 4.750% 1% 0 9:00 AM 5.000% 0% 0 9:00 AM EnergySpark: 4.500% 1% 0 9:00 AM Conventional HFA Preferred with no WSHFC DPA: 4.125% 1% 0 9:00 AM 4.250% 0% 0 9:00 AM EnergySpark: 3.875% 1% 0 9:00 AM
*This is not an advertisement for credit as defined in Regulation Z; contact a WSHFC Participating Lender for Annual Percentage Rate (“APR”). **Further fees may apply. Contact your participating loan officer for more information. Interest rate buydowns are prohibited.
HOW TO GET STARTED
Attend a free Homebuyer Education seminar.
It will provide you with the steps to buying your first home. You will receive a certificate upon completion of the class, valid for two years. This will be a requirement of your loan process. Homebuyer Education » Seminar Schedule »
Contact a Commission-trained loan officer to see what you will qualify for.
They can find the right loan type that will work with our programs. They also know the income limits we require. Premier Participating Loan Officers »
Once you know how much you qualify for, it is time to look for a home.
Your lender and real estate professional will work with you to locate and finance a home.
ADDITIONAL HELP WITH HOMEOWNERSHIP
Washington State Dept. of Financial Institutions protects Washington homeowners and buyers. Free state sponsored counseling is available to Washington residents who are facing foreclosure, thinking of buying a home, or considering refinancing. To speak with a counselor, call the Washington Homeownership Information Hotline at 1.877.894.HOME (1.877.894.4663).
HOME ADVANTAGE FIRST MORTGAGE LOAN
Do you qualify?
If you’ve attended and obtained a certificate from a Commission-sponsored homebuyer education seminar within the last two years;
If you meet the program income limits listed below; and…
If you meet with a Commission trained loan officer and determine that you qualify for a mortgage loan according to FHA, VA, Conventional, Rural Housing Services (RHS),
Then… you may qualify!
These Participating Lenders have a proven track record of originating and closing Home Advantage loans.
See Premier Participating Loan Officers.
1st Security Bank of Washington
Alaska USA Mortgage
American Pacific Mortgage
Axia Home Loans
Bank of the Pacific
Bay Equity Mortgage
Caliber Home Loans
Chimney Rock Mortgage
City First Mortgage Services
Cornerstone Home Lending
Eagle Home Mortgage
Equity Home Mortgage
Evergreen Home Loans
Fairway Independent Mortgage
Global Credit Union
Land Home Financial Services
Landmark Professional Mortgage
LoanStar Home Lending
Mortgage Express, LLC
Network Mortgage Services
New American Funding
Numerica Credit Union
On Q Financial
Pinnacle Capital Mortgage
Primary Residential Mortgage
Priority Home Lending
Skyline Home Loans
Summit Mortgage Corporation
Universal American Mortgage
Veteran’s United Home Loans
Vitek Mortgage Group
Wallick & Volk
Wells Fargo Bank, NA
Willamette Valley Bank
QUESTIONS REGARDING PARTICIPATING LENDERS
The Commission welcomes new participating lenders into our programs.
Please contact Corinna Obar at firstname.lastname@example.org or 206-287-4414.
Borrowers must not exceed the Maximum Annual Income Limit: Statewide $97,000
For complete details on these programs, including contact information and instructions on how to apply, please visit this WSHFC program overview page.
More Illinois First Time Buyer Programs
In addition to the above homebuyer programs offered by WSHFC, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to 1st time property buyers as well. To determine if there any near you, please visit local first time home buyer programs in Washington.