When I moved to Washington, I had no idea that I was mere months away from purchasing my first home. Someone shared information about the state's down payment assistance program, and it sounded too good to be true. Not only did I end up pursuing it and utilizing it, it inspired me to become a real estate agent so I could help buyers who felt like homeownership was a pipe dream, become a reality. There are currently five opportunities for financial assistance in your home purchase. If you need help deciding which program might be right for you, please reach out to me.
Washington State Down Payment Assistance

Washington State offers five programs to help home buyers which have various requirements from maximum household income to credit scores. These programs aren't necessarily exclusively first-time home buyers. Each of these programs are not "free money", they're typically low interest (sometimes even 0%) second mortgages on your home; meaning you'll need to repay it at the time you refinance, resell your home, or pay off your first mortgage, whichever comes first. Often, equity will help you cover this at that time, so it's a wonderful opportunity. Click each header below to learn more.


Home Advantage DPA
Up to 3% or 4% of the first mortgage total or gross loan amount for borrowers using our Home Advantage Gov’t or Conventional loan programs or up to 5% using Home Advantage conventional or FHA.

 

Home Advantage DPA Needs Based Option
Up to $10,000, for borrowers using our Home Advantage loan and under certain income limits.

 

Opportunity DPA
Up to $15,000, for borrowers using our House Key Opportunity loan.

 

Veterans
Up to $10,000 for military veterans who have served our country.

 

HomeChoice
Up to $15,000 for buyers with a disability or disabled family member living with them.

Clark County Down Payment Assistance

In February 2023, the Columbian shared news that Clark County partnered with the Washington State Housing Finance Commission (Commission) to offer down payment assistance loans for qualifying homebuyers, using funds from the American Rescue Plan – Coronavirus State and Local Fiscal Recovery Funds.


As it turned out, within a short amount of time the limited funds had all been reserved as of April 2023.

Non-Profit Housing Organizations

Homebuyer assistance is provided by nonprofit agencies throughout the state who focus on wealth-building and financial stability. Many offer personal housing counseling, which gives you an in-depth review of your personal financial situation and programs available to help, so you can plan your path to homeownership with the best chance of long-term success. Click each organization name below to learn more.

 

In Clark County, these agencies include:

 

African American Alliance for Homeownership: 503.595.3517, info@aaah.org

 

Evergreen Habitat for Humanity: 360.737.1759, melissa@ehfh.org

 

HomeSight: 206.760.4228, brooke@homesightwa.org

 

Native American Youth and Family Center: 503.288.8177, rosew@nayapdx.org

 

Parkview Services: 509.861.3330, loretta@parkviewservices.org

 

Proudground Community Land Trust: 503.493.0293, info@proudground.org

Lenders with 100% Financing
I know of a few lenders in our area that have programs to finance 100% of your home purchase and don't require a down payment. You'll still need funds for an earnest money deposit and closing costs, unless they're seller paid, which can be anywhere between $10,000-$15,000. You may also have higher loan origination fees, interest rates, and need a greater credit score to be approved for these programs. Feel free to reach out to me for my list of lending partners that offer 0%-Down mortgage programs.