Down Payment Assistance
Introducing The Washington State Housing Finance Commission Program
HOME ADVANTAGE FIRST MORTGAGE PROGRAM
Looking for a down payment assistance program? This first mortgage program is for qualified homebuyers. Borrowers must meet the program income limit ($145,000 annually*) and attend a free Commission-sponsored homebuyer education seminar. The following loan types can be used for this loan program: Conventional (Fannie Mae), Federal Housing Administration (FHA) and Veteran’s Administration (VA). Recapture tax does not apply and borrowers do not need to be first-time homebuyers to utilize the Home Advantage first mortgage program.
HOME ADVANTAGE SECOND MORTGAGE:
Eligible homebuyers may qualify for a loan amount of up to 4% of the first mortgage loan amount. The loan is a DEFERRED SECOND MORTGAGE (no payments) with no interest rate. The loan is payable in 30 years, or at the time of sale, refinance or transfer.
HOME ADVANTAGE NEEDS-BASED OPTION SECOND MORTGAGE:
Eligible homebuyers who meet the needs-based requirement may qualify for a loan amount up to $10,000. There is no assessment of need for Veterans to be eligible for the $10,000 loan amount. The loan is a DEFERRED SECOND MORTGAGE (no payments) with a low interest rate. The loan is payable in 30 years, or at the time of sale, refinance or transfer.
HOME ADVANTAGE BUILT NEW SECOND MORTGAGE:
Eligible homebuyers may qualify for a loan amount of up to $10,000 with a low interest rate and 10-year loan term. The loan program is designed for purchasing a never-occupied, newly constructed home; the loan is not a construction loan.

HOMECHOICE SECOND MORTGAGE:
Eligible homebuyers with a disability or have a family member with disability living with them may qualify for a loan amount up to $15,000. The loan is a DEFERRED SECOND MORTGAGE (no payments) with a low interest rate. The loan is payable in 30 years, or at the time of sale, refinance or transfer.
HOUSE KEY SCHOOLS SECOND MORTGAGE:
Eligible homebuyers who teach or work for community colleges, technical colleges, or K-12 public or private schools may qualify for a loan amount up to $10,000 with a low interest rate and 10-year loan term.
HOUSE KEY VETERANS SECOND MORTGAGE:
Eligible veterans who have served our country may qualify for a loan amount up to $10,000 with a low interest rate and 10- year loan term.
CONTACT US TODAY FOR MORE INFORMATION ON THIS POPULAR DOWN PAYMENT ASSISTANCE PROGRAM!
*Statewide: Household income must not exceed $145,000 annually. Income limits may differ for some mortgage types and other Commission downpayment assistance programs. Please speak with your lender about income limit exceptions. Recapture tax does not apply to the Home Advantage program. Alpine Mortgage Planning is not a tax consultation firm. Please seek advice from a tax advisor. This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision. REV 2.12.2015