Washington's main source of down payment assistance is the Washington State Housing Finance Commission (WSHFC), through programs such as Home Advantage and House Key Opportunity, offered through participating lenders. Assistance is typically a deferred second loan. Income and price limits apply, and a homebuyer education class is required.
How Washington DPA works
- Paired with a first mortgage (FHA, VA, USDA or conventional) from a WSHFC-participating lender.
- Usually a deferred second loan, repaid when you sell, refinance or pay off the first mortgage.
- Homebuyer education through a WSHFC-approved class is required.
- Local programs from some cities and counties can stack with state programs.
Program amounts, rates and income limits change during the year. Check current terms at wshfc.org, and ask Kristen which participating lenders in her network fit your file.
Common questions
Do I have to be a first-time buyer to get assistance in Washington?
It depends on the program. Some WSHFC programs are open to repeat buyers; others are limited to first-time buyers or specific groups.
Do I have to pay down payment assistance back?
Most WSHFC assistance is a deferred second loan repaid when the home is sold, refinanced or paid off. Terms vary by program.