Washington Home Advantage Needs-Based DPA

Washington State Housing Finance Commission offers Home Advantage Needs-Based DPA to home buyers in Washington: up to $10,000, as a deferred loan.

Amount: As much as $10,000
What help you get: A loan you repay later
Reserved for first-time buyers: No
Homebuyer education class: Required

Washington Home Advantage Needs-Based DPA: how does repayment work?

This is a deferred loan at 1%, with nothing to pay each month. Repayment is due if you sell, refinance, move out, give someone else the home or pay your home loan off.

You pay nothing monthly on a deferred loan, but the full balance comes due if you sell, refinance or finish paying the first mortgage.

Washington Home Advantage Needs-Based DPA: who qualifies?

Elsewhere the cap is $126,800, while King or Snohomish County allows income up to $164,400.
Being a first-time buyer isn't required.
Complete a homebuyer education course before your purchase.
Its first-mortgage loan is the Commission's Home Advantage.
The home's price is capped at $250,000.

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

Applying for Washington Home Advantage Needs-Based DPA

Contact the agency, or a lender that handles Washington State Housing Finance Commission's programs, ahead of any offer on a home.
Your lender reviews your income, your credit and the home under the program's rules, then sets the money aside for you.
You receive the money at closing, and it goes toward the down payment and your closing costs.

Washington State Housing Finance Commission's page for Home Advantage Needs-Based DPA has the full rules and says if applications are open.

Washington Home Advantage Needs-Based DPA: talk it over with a lender

Tell us where you're buying and a lender that works with Washington's programs can tell you whether Washington Home Advantage Needs-Based DPA fits you, and what you could combine with it.

Call 866-602-7460

Would you rather not phone? Once you send your details, the lender will make contact.

More first-time buyer programs in Washington

Washington Home Advantage DPA:
As much as 5% of the home loan, as a deferred loan.
Washington House Key Opportunity DPA:
As much as $15,000, as a deferred loan.
Washington Covenant Homeownership:
As much as 20% of the price, no more than $150,000, as a deferred loan.
Washington HomeChoice DPA:
A deferred loan of up to $15,000.
Washington Veterans Downpayment Assistance Program:
A deferred loan of up to $10,000.

Every Washington first-time home buyer program · Down payment assistance in all states