Washington State House Key Program

While it's true that nearly all 0% loan program went the way of the dodo bird last year, there is a new and temporary Washington State program that helps first time homebuy

ers with their down payment.

The money is raised through a State Bond program, and once the allocated money has been lended out, there is no more.   It's a very first-come first-serve sort of deal.

Tamela Cole with Axia Financial has all of the pertinent information and can assist you in qualifying for this Washington State program while it is still available. 

Give her a call today:

Tamela Cole

tamelac@verizon.net
(425) 308-9999
 

Here are some of  the basics:

• Borrowers must be first-time homebuyers or buying in a targeted area.

• Borrowers must meet the acquisition cost and income limits for the House Key Program first mortgage. 

• The first mortgage must be a FHA House Key Loan, House Key Teacher, MyCommunityMortgage, Freddie Mac Home Possible 100, or Freddie Mac Home Possible 97.

To be eligible for a House Key Plus loan you must not exceed the following income limits:

• Clark/Skamania/Thurston Counties: $70,000
• Island County:  $77,900
• King/Snohomish Counties: $84,300
• Kitsap County:  $70,900
• All Other Counties: $69,300

Homebuyer Education

Borrowers must attend a Commission-sponsored homebuyer seminar prior to reserving funds under the House Key Program.   Cash back to borrowers is not allowed.

How much can you borrow?

Eligible households may qualify for a maximum loan amount of up to $10,000 in all counties.

A House Key participating loan officer can help you determine an acquisition price you can afford, how much cash you will need to close, and how much you can borrow on a House Key Plus loan.