Washington Home Advantage DPA

How is Washington Home Advantage DPA paid back?

This deferred loan has 0% interest and no monthly payments. It comes due if you sell, refinance, give the house away, move out or pay off the home loan.

With a deferred loan, there's no monthly cost. The full balance is due when the home is sold, you refinance or the first mortgage is paid off.

Who qualifies for Washington Home Advantage DPA?

• Income limit across the state: $215,000.
• Being a first-time buyer isn't required.
• You take a homebuyer education course before buying.
• You get it alongside the Commission's Home Advantage program for first-mortgage loans.

Your county and household size set most limits. Use our HUD income limits search to see the median income for your area and how your household compares.

How to apply for Washington Home Advantage DPA

1. Contact the agency or a lender involved in Washington State Housing Finance Commission's programs before offering on a home.
2. The lender compares your income, credit and the property with the program's rules, then sets the money aside for you.
3. Your down payment and closing costs get the help when the loan closes.

Check Washington State Housing Finance Commission's page for Home Advantage DPA for the full rules and whether it's accepting applications.

More first-time buyer programs in Washington

• Washington Home Advantage Needs-Based DPA:

  Deferred loan of up to $10,000.

• Washington House Key Opportunity DPA:

  Deferred loan of up to $15,000.

• Washington Covenant Homeownership:

  Deferred loan of up to 20% of the price, no more than $150,000.

• Washington HomeChoice DPA:

  You could get up to $15,000 as a deferred loan.

• Washington Veterans Downpayment Assistance Program:

  A deferred loan of up to $10,000.

All Washington first-time buyer programs · Down payment help in every state