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House Key Plus Seattle

House Key Plus SeattleHouse Key Plus Seattle is a down payment assistance, second mortgage loan program that combines with the House Key State Bond below-market interest rate first mortgage loan program.  This program is for people living within the city limits of Seattle.

You must be able to qualify for the House Key State Bond first mortgage loan program.  The first mortgage must be a FHA House Key Loan, House Key Teacher, MyCommunityMortgage or Freddie Mac Home Possible.

This program allows up to $45,000 in down payment assistance with payments deferred for 30 years, at 3% simple interest.  There is Shared Appreciation required for the first 9 years.

You must be a first-time homebuyer and the home you are purchasing must be your principal residence and owner-occupied. The definition of a first-time homebuyer is that you have not owned a home anytime in the past three years.

You must attend a free Homebuyer Education Seminar sponsored by the Washington State Housing Finance Commission and receive your certificate.  The seminar will provide you with the information you will need to purchase and maintain your first home.

Maximum Income Limits

To be eligible for House Key Plus Seattle, your household income must not exceed these limits:

1 person $45,100 | 2 person $51,550 | 3 person $58,000 | 4 person $64,400
5 person $69,600 | 6 person $74,750 | 7 person $79,900 | 8 person $85,050

Maximum Purchase Price

$362,790

Participating Lenders

We would like to thank the following Lenders for their participation in House Key Plus Seattle Program:

Questions about the House Key Plus Seattle Down Payment Assistance Program?

Please contact Karen Carlson at 206-287-4413 or toll free at 800-767-4663, Ext. 413, or by e-mail karen.carlson@wshfc.org.

08/27/2010