Leasehold properties are acceptable with the exception of Manufactured Homes. Please follow agency underwriting guidelines.
OPHow much downpayment do I need?
You don’t need to save up 10% before you can think about homeownership. Our downpayment assistance can fill the gap with no-cost and low-cost loans.
OPCan the borrower own another home and still use DPA?
The Home Advantage DPA program allows a borrower to own another home at the time of closing per agency guidelines as long as: 1) it was not financed through the Commission, and 2) the borrower intends to occupy the new home.
OPWhen will funds for Home Advantage become available?
Funds for the Home Advantage program are continuously available and are subject to market rates and conditions. If you have questions about the Home Advantage Program, please call us at 800.767.4663 or email info@heretohome.org or Corinna.Obar@wshfc.org.
OPAre manufactured homes allowed for use with DPA?
Yes. Please follow agency guidelines for age and size.
OPYou have a lot of downpayment programs. How do I know which one is right for me?
Ask your lender or fill in this quick form with information about your location, household size and income. One of our Homeownership staff will reply with recommendations just for you.
OPDoes a downpayment assistance loan need to be paid back?
Yes. The interest rate is very low, from 0% to 4% depending on the program. It is wrapped into your main home mortgage, so you don’t have two bills to pay. Also, most of our downpayment loans are payment deferred” meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out of or refinance the property.
OPHow much downpayment assistance can I get?
It varies by program, but $15,000 is the average amount for a typical homebuyer.
OPYou have a lot of downpayment programs. How do I know which one is right for me?
Ask your lender—or, fill in this quick form with information about your location, household size and income. One of our Homeownership staff will reply with recommendations just for you.
OPI have a WSHFC downpayment assistance loan. What happens if I want to refinance my home?
If you refinance, you will need to pay off the WSHFC downpayment assistance loan (the second mortgage). The Commission does not subordinate our loans to other loans. In order to request a DPA loan payoff, please contact the loan servicer of your main home mortgage. The loan servicer is the entity to which you make your loan payments. Visit our Payoff Request page to learn more and find the contact information for all our loan servicers.
