Downpayment assistance with every Commission loan
While you probably don’t need as much cash for the downpayment as you think, it can still be a significant hurdle. That’s why we offer downpayment assistance with all our mortgage programs.
Start with a homebuyer education class and connect with a Commission trained lender who knows our programs!
Take a Free Homebuyer Class >>
Talk to a Lender to Learn what program is right for you >>
Opportunity Downpayment AssistanceMaximum Income
80% AMI Limits - Conventional Loans
House Key Income Limits
House Key Opportunity serves people whose income is under the following limits. In Target Areas, those limits are higher. See our Target Area Map below to see if a home is in a Target Area.
| County | Non-Target Area (1-2 Persons) | Non-Target Area (3+ Persons) | Target Area (1-2 Persons) | Target Area (3+ Persons) |
|---|---|---|---|---|
| Clark/Skamania | $110,000 | $125,000 | $120,000 | $140,000 | King/Snohomish | $150,000 | $175,000 | $150,000 | $175,000 | Kitsap | $100,000 | $115,000 | $120,000 | $140,000 | Pierce | $115,000 | $135,000 | $115,000 | $135,000 | All other counties | $100,000 | $115,000 | $120,000 | $140,000 |
Maximum Purchase Price (House Key)
- Combines with the House Key Opportunity first mortgage loan program
- Offers up to $15,000 in downpayment assistance at 1% simple interest
Homebuyers: Connect to this ProgramAny Commission-trained loan officer can work with you to determine which downpayment assistance program is the best fit. |
Lenders: Get the Details
Not yet one of our lending partners? Learn how to join us here! |
Which Homebuyers are Eligible?
- Owner-occupied only: The home must be your principal residence.
- First-time homebuyers only – or you must be purchasing a home in a Target Area
- Also, the home must not have been occupied by a tenant within 90 days of the purchase and sale agreement.
- Needs assessment is required for borrowers, except for military veterans. Your lender will take you through this process of supplying household financial information.
Use of Funds
- Funds may be used for downpayment and closing costs.
- Cash back to the borrower is not allowed.
DPA Loan Repayment
- No monthly payments required (just payment on your mortgage).
- The balance is due and payable when the borrower:
- Sells, refinances, or transfers the property;
- Fails to maintain the property as their principal place of residence; or
- Pays off the home (at 30 years or before)
Required Steps
- You must attend a free Homebuyer Education Class sponsored by the Washington State Housing Finance Commission and receive your certificate. You can take this class any time, but the earlier in your homeownership journey, the better. Learn more and find a class.
- Your lender will work with you to complete a Needs Assessment using your financial information. Military veterans are not required to complete this assessment.
Is this the right program for me?
Don’t worry – you’ll work with a Commission-trained loan officer who will help you determine which of our downpayment assistance programs will work best for you, as well as the home price you can afford, how much cash you will need to close, and how much you can borrow. To find a lender, see our Premier Participating Lenders here.
| County | Non-Target Area | Target Area |
|---|---|---|
| Clark/Skamania | $495,000 | $550,000 | Island | $400,000 | $475,000 | King/Pierce/Snohomish | $675,000 | $750,000 | Kitsap | $410,000 | $500,000 | San Juan | $410,000 | $480,000 | Whatcom | $425,000 | $500,000 | Skagit/Thurston | $390,000 | $475,000 | All other counties | $345,000 | $400,000 |
Target Areas
Target areas are census tracts in Washington state that meet federal guidelines as economically distressed and, therefore, given special consideration under the House Key Opportunity program. Use the map to see if a property is within a target area. The map below shows you whether a property under consideration is in a target area. If so, the income limits for a House Key loan are higher.
Use the map to zoom in on an outlined target area. Or, look up the census tract by address here and enter the “tract code” in the search bar. “No Results Found” means the property is not in a target area.
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