WSHFC Home Advantage

Through Home Advantage, a first-time home buyer Washington State may qualify for a reduced interest. The requirements are as follows -

• 620 is the least permissible credit score
• No more than 50 percent debt-to-income ratio
• Your yearly income should be under $180,000

WSHFC House Key Opportunity

House Key Opportunity targets lower-income buyers by combining specific aid. Incomes are limited to $100,000 to $175,000, contingent on location and household size. The maximum home price, depending on the area, ranges from $345,000 to $750,000.

Like Home Advantage, House Key Opportunity offers lower competitive rates for FHA, VA, and USDA loans.

WSHFC EnergySpark

Eligible for Home Advantage, applicants could explore eco-friendly dwellings or renovation projects meeting Washington's standards. Through such first-time home buyer programs Washington State, an additional discount is awarded that lowers interest.

Property Requirements include:

• It must be a brand-new house that satisfies certification requirements set out by NEEM/Energy Star, LEED, Department of Energy Zero Energy Ready Home, Passive House, or Built Green;
• Existing home renovated to cut energy usage 10 percent from current levels

Home Advantage Down Payment Assistance (DPA)

When paired with a Home Advantage first mortgage, this down payment assistance grant in Washington may offer up to 4 percent of your total mortgage; if you're getting a conventional or FHA loan, that amount might rise to 5 percent. The loan has 30 years of interest-free deferral and no upfront costs.

Home Advantage DPA Needs Based

This Washington first-time homebuyer program linked to a Home Advantage first mortgage is a good fit for a Washington title loan client if your earnings are less than $180,000. If your yearly income is less than $114,600, you could be eligible for a $10,000 loan for your down payment needs for 30 years. You will pay 1% interest on the loan but will only repay the money plus the loan's interest upon completion.

Opportunity DPA

Paired using a House Key Opportunity first mortgage, Washington's first-time home buyer program provides a second mortgage up to $15,000. The rate of interest is 1% and it has 30-year deferred obligations. The earning constraints are far reduced and vary based on the topic and the number of individuals:

• King, Snohomish: $80,750 (1-2 person household) and $100,900 (3+ person household)
• Clark, Kitsap, Pierce, Skamania, Thurston, Whatcom: $72,200 ((1-2 person household)) and $90,200 (3+ person household)
• All others: $59,150 (1-2 person household) and $73,900 (3+ person household)

Veterans DPA

Veterans, together with their living, single wives and dependent children, may also be eligible for a second mortgage that includes up to $10,000 in down payment money. The mortgage has a three percent interest rate and is deferred for thirty years. Either the Home Advantage or the House Key Opportunity first mortgage can be paired with the help.

HomeChoice Disability DPA

If you or anybody in your family has a disability, you could be qualified for a second mortgage and assistance with a down payment of up to $15,000. The second loan has a 30-year payback period and a one percent interest rate, the same as previous down payment assistance programs.

FHA Loans

An FHA loan accommodates lower credit ratings or limited savings, having a minimum score of 580 and a down payment as small as 3.5%.

VA Loans

Veterans and active military are potentially qualified for zero-down VA loans.

USDA Loans

Situated in a rural area certified by USDA, their loans require no down payment but are confined to eligible locales. They usually require a 640+ score.

Good Neighbor Next Door program

The HUD Good Neighbor Next Door program requires a meager down payment, offers half-off discounts on selected homes, and offers location flexibility.