House Key Plus Program

A down payment assistance second mortgage program with a 5.00% interest rate and a ten-year loan term.*

• 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. 
• The first mortgage must be a FHA House Key Loan, House Key Teacher, MyCommunityMortgage, Freddie Mac Home Possible 100, or Freddie Mac Home Possible 97.

To be eligible for a House Key Plus loan you must not exceed the following income limits:

• Clark/Skamania/Thurston Counties: $70,000
• Island County:  $77,900
• King/Snohomish Counties: $84,300
• Kitsap County:  $70,900
• All Other Counties: $69,300

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.

Who are the 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, 2009 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. 

Further restrictions apply.

Questions about the House Key Plus Program?  Please call Karen Carlson at 206.287.4413 or toll free in WA 800.767.4663, Ext. 413, or email karen.carlson@wshfc.org 

This page was modified on 04/29/2009.