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House KeyHouse Key PlusHouse Key Plus

House Key Plus is a down payment assistance, second mortgage loan program with a 5.00% interest rate and ten-year loan term.* House Key Plus combines with the House Key State Bond first mortgage loan program. 

  • Borrowers must be first-time homebuyers or buying in a targeted area.
  • Borrowers must meet the acquisition cost and income limits for the House Key Program first mortgage. 

TO BE ELIGIBLE FOR A HOUSE KEY PLUS LOAN, YOU MUST NOT EXCEED THE FOLLOWING INCOME LIMITS:

  • Clark/Skamania Counties: $72,000
  • King/Snohomish Counties: $86,800
  • Kitsap/Thurston Counties:  $74,500
  • All Other Counties: $71,900

HOMEBUYER EDUCATION

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

HOW MUCH CAN YOU BORROW?

Eligible households may qualify for a maximum loan amount of up to $10,000 in all counties.

A House Key participating loan officer can help you determine an acquisition price you can afford, how much cash you will need to close, and how much you can borrow on a House Key Plus loan.

PARTICIPATING LENDERS IN HOUSE KEY PLUS

See House Key Participating Lenders who have been helpful to first-time homebuyers.

*If your loan is closing prior to December 31, 2012, and you are purchasing a property that is foreclosed, in foreclosure or a short sale, you may be eligible for a 3% interest rate and a ten-year loan term. 

*If your loan is using the New Home For You Program and you are purchasing a newly constructed, never occupied property, you may be eligible for a 3% interest rate and a ten-year loan term.  Funding subject to availability.

Further restrictions apply.

QUESIONS ABOUT HOUSE THE KEY PLUS PROGRAM? 

Please call Karen Carlson at 206.287.4413 or toll free at 800.767.4663, Ext. 413, or email karen.carlson@wshfc.org 

11/28/2011

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