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Home Advantage First Mortgage Loan Program

Interest Rate Origination Fee Points*   Effective as of:
FHA and VA Loans:
4.250% 30-year fixed 1%    0 9:00 AM on 10/31/2014
4.375% 30-year fixed 0%    0 9:00 AM on 10/31/2014
USDA Rural Development Loans:
4.250% 30-year fixed 1%    0 9:00 AM on 10/31/2014
4.375% 30-year fixed 0%    0 9:00 AM on 10/31/2014
Conventional HFA Preferred Loans:
4.750% 30-year fixed 1%    0 9:00 AM on 10/31/2014
4.875% 30-year fixed 0%    0 9:00 AM on 10/31/2014
Conventional Standard FNMA Loans:
4.750% 30-year fixed 1%    0 9:00 AM on 10/31/2014
4.875% 30-year fixed 0%    0 9:00 AM on 10/31/2014
Conventional HFA Preferred with no Commission DPA:
4.125% 30-year fixed 1%    0 9:00 AM on 10/31/2014
4.250% 30-year fixed 0%    0 9:00 AM on 10/31/2014

*Further fees may apply. Contact your participating loan officer for more information. Interest rate buydowns are prohibited.

Home Advantage Brochure

Frequently Asked Questions

HOW TO GET STARTED

Step 1:  You must first attend a free Homebuyer Education seminar. 
It will provide you with the steps to buying your first home. You will receive a certificate upon completion of the class, valid for two years. This will be a requirement of your loan process. Homebuyer Education »  Seminar Schedule »
Step 2:   Contact a Commission-trained loan officer to see what you will qualify for.
They can find the right loan type that will work with our programs. They also know the income limits we require.  Premier Participating Loan Officers »
Step 3:   Once you know how much you qualify for, it is time to look for a home.
Your lender and real estate professional will work with you to locate and finance a home.

ADDITIONAL HELP WITH HOMEOWNERSHIP

Washington State Dept. of Financial Institutions
Protects Washington homeowners and buyers.  Free state sponsored counseling is available to Washington residents who are facing foreclosure, thinking of buying a home, or considering refinancing.  To speak with a counselor, call the Washington Homeownership Information Hotline at 1.877.894.HOME (1.877.894.4663).

HOME ADVANTAGE FIRST MORTGAGE LOAN

Do you qualify?

If you've attended and obtained a certificate from a Commission-sponsored homebuyer education seminar within the last two years;
If you meet the program income limits listed below; and...
If you meet with a Commission trained loan officer and determine that you qualify for a mortgage loan according to FHA, VA, Conventional, Rural Housing Services (RHS),

Then... you may qualify!

HOME ADVANTAGE PROGRAM PARTICIPATING LENDERS

These Participating Lenders have a proven track record of originating and closing Home Advantage loans. 
See
Premier Participating Loan Officers.

Absolute Mortgage

Academy Mortgage

AlaskaUSA Mortgage

American Pacific Mortgage

AmericanWest Bank

Axia Home Loans

Banner Bank

Bay Equity Mortgage

Canyon Park Mortgage

Chimney Rock Mortgage

City First Mortgage Services

Cobalt Mortgage

Cornerstone Home Lending

DHI Mortgage

Eagle Home Mortgage

Equity Home Mortgage

Evergreen Home Loans

Fairway Independent Mortgage

Global Credit Union

Guild Mortgage

Heritage Home Loans

HomeStreet Bank

Kiel Mortgage

Landmark Professional Mortgage

LeaderOne Financial

Mann Mortgage

Mortgage Advisory Group

Mortgage Masters

Mountain West Bank

Movement Mortgage

Network Mortgage Services

Paramount Equity Mortgage

Peoples Bank

Pinnacle Capital Mortgage

Primary Residential Mortgage

Prime Lending

Procura Mortgage

Prospect Mortgage

Republic Mortgage

Skyline Home Loans

Summit Funding

Summit Mortgage Corporation

The Advisors

Umpqua Bank

Universal American Mortgage

Veteran’s United Home Loans

Wallick & Volk

Washington Trust

Wells Fargo Bank, NA

QUESTIONS REGARDING PARTICIPATING LENDERS

The Commission welcomes new participating lenders into our programs. 
Please contact Lisa DeBrock at Lisa.DeBrock@wshfc.org or 206-287-4461.

INCOME LIMITS

Borrowers must not exceed the Maximum Annual Income Limit:  Statewide $97,000

WHEN WILL THESE FUNDS 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 askusHO@wshfc.org.

WHEN CAN MY LOAN OFFICER LOCK MY RATE?

Your loan officer can lock your rate after you have a fully executed purchase and sale agreement and after you have taken a Commission sponsored homebuyer education seminar.  Please check with your lender regarding locking your loan as loans must be delivered prior to lock expiration and each lending institution will have their own internal guidelines.  If a reservation of funds is made before you take a Commission sponsored homebuyer education seminar, the current reservation will be considered invalid and will be subject to worst case pricing.  No exceptions. 

DISCLAIMER: The sponsorship by the Commission of a homebuyer education seminar does not endorse a person, business practice, product or service other than those of the Commission.

 

 
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Washington State Housing Finance Commission
1000 Second Avenue, Suite 2700, Seattle, WA 98104
Phone: 206.464.7139 or 800.767.4663 | Fax: 206-587-5113 | WebMaster@wshfc.org
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