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HOMEOWNERSHIP DIVISION |
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House Key State Bond Loan ProgramFirst Mortgage Programs | Downpayment Assistance Programs | Targeted Areas | Recapture Tax | Homeownership Program Brochure: Steps and Programs for Owning Your Own Home (PDF) 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. House Key Interest Rates...Fixed interest rate for 30 years*:
30 Year Interest Only, 40 Year Fixed, 40 Year Interest Only*:
*For conventional financing only, further pricing adjustments apply. These fees are paid directly to Fannie Mae and Freddie Mac upon loan purchase and not to the Washington State Housing Finance Commission or the lender. Please check with your loan officer for additional information. How do I get started?1. You must first attend a free Homebuyer
Education seminar. 2.
Contact a Commission-trained loan officer to see
what you will qualify for. 3. Once you know how much you qualify for, it is
time to look for a home. Looking for additional help with homeownership?
Washington State Dept. of
Financial Institutions, protecting Washington homeowners and buyers. House Key State Bond First Mortgage LoanDo you qualify?
House Key Program Participating LendersThese Participating Lenders have a proven track record of originating and closing House Key State Bond loans. See Premier Partners.
Questions
regarding Participating Lenders? Income Limits Effective 04/25/2008Borrowers must not exceed these Maximum Annual Income Limits:
Maximum Acquisition Cost LimitsSee Targeted Areas for more information and maps.
Federal Subsidy Recapture TaxThe House Key program uses the proceeds of tax-exempt
bonds to provide first-time homebuyers the benefit of a lower interest rate.
Should the home financed using the House Key Loan Program be sold or otherwise
disposed of within nine years of purchase, this benefit may be "recaptured".
When will these funds become available?Funding for the House Key program comes from the sale of tax-exempt bonds. We schedule the sales of the new bond issues to overlap to allow for continuous funding. In the event we should have a gap in funding, we will make an announcement on this website. If you have questions about the House Key Program, please call us at 800.767.4663 or email askusHO@wshfc.org.
This page was modified on 07/02/2008. |
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Washington
State Housing Finance Commission: Beginning Farmer and Rancher | Compliance | Home Buyers | Land Acquisition Program | Multifamily and Nonprofit Housing | Nonprofit Facilities | Preservation | Single-Family Mortgage Professionals | Tax Credit ©2008 Washington State Housing Finance Commission. All rights reserved. Web Manager: askus@wshfc.org |