Homeownership Programs

House Key Plus Program

House Key Plus is a down payment assistance second mortgage loan program with 5.00% interest rate and 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, MyCommunityMortgage, Freddie Mac Home Possible House Key loan.

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 June 30, 2010 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. 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 03/05/2010.