Bootcamp For Buyers

First Time Homebuyer Programs in Washington

Washington offers several first-time homebuyer programs through the Washington State Housing Finance Commission (WSHFC). These initiatives provide financial assistance, competitive mortgage rates, and resources to make homeownership more achievable.

Home Advantage Program

The Home Advantage Program offers affordable fixed-rate loans with down payment assistance for eligible buyers.

  • Provides 30-year fixed-rate mortgages with competitive interest rates.
  • Includes up to 5% of the loan amount in down payment assistance.
  • Assistance is structured as a deferred loan, repayable only upon sale, refinance, or loan maturity.

House Key Opportunity Program

The House Key Opportunity Program provides lower interest rates for first-time buyers with limited income.

  • Income and purchase price limits apply, based on location and household size.
  • Can be combined with WSHFC down payment assistance programs.
  • Available for FHA, VA, USDA, and conventional loans.

Home Advantage MCC Program

The Home Advantage Mortgage Credit Certificate (MCC) provides tax benefits for first-time buyers.

  • Offers a federal tax credit of up to 20% of annual mortgage interest paid.
  • Must be used with a Home Advantage loan product.
  • Eligibility includes income and purchase price limits.

Washington’s first-time homebuyer programs are tailored to make homeownership more accessible and affordable. Explore these opportunities to find the perfect fit for your needs and take the first step toward owning your dream home in the Evergreen State.