Downpayment Assistance Programs

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The days of easy credit are gone, but homebuyers can still get mortgages with little to no money down if they know where to look.

From down payment assistance grants to interest-free second mortgages and other special mortgage programs, there is a growing number of options for people who want to buy a home without a down payment.  Contact me today and I can put you in touch with lenders who have these and other programs.  


Washington State Home Advantage Loan Program:

(Statewide: Household income must not exceed $97,000 annually) 

Home Advantage Downpayment Assistance Second Mortgage Loan:



Eligible households may qualify for a maximum loan amount of up to 4% of the first mortgage loan amount in ALL counties of Washington State. The funds can only be used for down payment and closing costs. This is a deferred second mortgage (no payments) at 0% interest. Payable in 30 years, or at the time of sale, refinance or transfer.

You do not need to be a first-time homebuyer to utilize Home Advantage. Information Courtesy WSHFC   More information can be found about this and other WSHFC programs here.


Mortgage Credit Certificate (MCC) Program:

MCCs are not mortgages… they are tax credits that put extra cash in your pocket each month, so that you can more easily afford a house payment, which means fewer tax dollars will be withheld from your regular paycheck, increasing your take-home pay.

Applications are accepted on a first-come, first-served basis by a statewide network of lenders. Your lender will establish all underwriting criteria, including interest rate, downpayment requirement, term, fees, points, and closing costs. Your lender will submit your loan application and notify you as to whether your application is accepted. It is strongly recommended that you contact a tax professional before applying for an MCC in order to determine the potential benefits an MCC may provide for your specific tax situation.

Above Information: Courtesy WSHFC.   More information can be found about this and other WSHFC programs here.


In Addition to the WSHFC Programs (aka Washington Bond) other Downpayment Assistance Programs exist, including:


National Home Buyers Platinum Program:

The NHF Platinum homebuyer assistance program currently provides eligible families and individuals with a grant that does not have to be repaid. The grant (up to 5% of the loan amount*) can be used towards down payment or closing costs. Many times this assistance allows homebuyers to purchase a home much sooner than they thought possible.

One of the most attractive features of the Program is that you don’t have to be a first-time homebuyer. Even if you owned a home in the past, you may qualify. The Program is available for the purchase of an owner-occupied principal residence, including condominiums and planned unit developments, and offered in various states.

Above Information: Courtesy NHF.   More information can be found about this and other NHF programs here.  Download a flyer about the Platinum Program here.