Home Advantage Downpayment Assistance

Home Advantage also offers downpayment assistance. This second mortgage loan program has a 0% interest rate, payment deferred for 30 years, and combines with the Home Advantage first mortgage loan program. Borrowers must meet the income limits for the Home Advantage Program first mortgage.


To be eligible for a Home Advantage downpayment assistance loan, you must not exceed the following income limits:  Statewide $97,000


Borrowers must attend a Commission-sponsored homebuyer seminar prior to reserving funds under the Home Advantage Program. Cash back to borrowers is not allowed.


Eligible households may qualify for a maximum loan amount of up to 4.00% of the total loan amount in all counties.

A participating loan officer can help you determine the sales price you can afford, how much cash you will need to close, and how much you can borrow on a Home Advantage loan.


See Premier Participating Lenders who have been helpful to homebuyers.

Further restrictions apply.


Please inquire with your lender to see if you qualify for a loan amount up to $10,000 at a 1% interest rate, payment deferred for 30 years.

For eligible households under the following income limits, you may qualify for a loan amount up to $10,000, if you meet the needs based requirement which will be completed by your loan officer:

Maximum Income to be Eligible for Needs Based Option as of 04/28/2017

King/Snohomish $96,000

Island $77,300

Kitsap $77,100

All Other Counties $76,500

Veteran Exception

There is no assessment of need for Veterans to be eligible for the $10,000 loan amount.


If you have questions about the Home Advantage Downpayment Assistance Loan Program, please contact Dietrich Schmitz at 206-287-4459 or toll free at 800-767-4663, Ext. 459, or by e-mail


Home | About | CareersCommissioners | Contact UsEventsMy View Newsletter | Publications | Homeownership: Homebuyer Programs | Information for Lending and Real Estate Professionals | Multifamily Housing: 9% Housing Credit | Bond/Tax Credit | 80/20 Bonds | 501(c)(3) Housing BondsSpecial Programs: Energy | Farmer/Rancher | Nonprofit FacilitiesLand Acquisition Program | Property Managers: Asset Management and Compliance Information for Investors: Official Statements, Annual Reports, Interim Information |  Privacy Notice | Requests for Public Records 
Washington State Housing Finance Commission   Twitter Facebook
1000 Second Avenue, Suite 2700, Seattle, WA 98104 | Phone: 206-464-7139 or 800-767-4663 | Fax: 206-587-5113 | Contact Us |
©1998-2018 All Rights Reserved