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Downpayment Assistance Loan Program
House Key Plus Seattle is a down payment assistance, second mortgage loan program that combines with the Home Advantage first mortgage loan program. This program is for people living within the city limits of Seattle. 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. Due to federal guidelines, the home must not have been occupied by a tenant within 90 days of the purchase and sale agreement. 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. Online Homebuyer Education will not meet the seminar requirement for this program.
Maximum Income Limits as of 01/01/2013
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 as of 08/23/2013
Existing Construction home limit $261,000
New Construction home limit $285,000
We would like to thank the following Lenders for their participation in House
Key Plus Seattle Program:
Verify a mortgage company or individual: www.nmlsconsumeraccess.org
Keane Ng, Cobalt Mortgage 425-440-0777, email@example.com
Cristie Stapp, Guild Mortgage, 206-521-6104 firstname.lastname@example.org
Joyce Hanson, Evergreen Home Mortgage, 425-732-3349 email@example.com
Lin Helm, Eagle Home Mortgage, 206-940-7693 firstname.lastname@example.org
Lynda Myrick, Evergreen Home Loans, 206-774-7590 email@example.com
Cathy Pizzini, Evergreen Home Loans, 206-774-7595 firstname.lastname@example.org
Kimberly Terry, Evergreen Home Loans, 206-774-7595 email@example.com
Phil Ross, MLO-150797, Alpine Mortgage, 253-272-3322 firstname.lastname@example.org
Kim Toskey, MLO-184361, Guild Mortgage, 425-422-5286 email@example.com
Angela Cohen, Network Mortgage Services, 425-672-2810 firstname.lastname@example.org
Gerri Rasmussen, Network Mortgage Services, 425-248-2319 email@example.com
Michelle Swanson, Prospect Mortgage, 425-776-1450 firstname.lastname@example.org
Gina Koehl, American Pacific Mortgage, 425-274-2063, email@example.com
Questions about the House Key Plus Seattle Downpayment Assistance Program?
Please contact Karen Carlson at 206-287-4413 or toll free at 800-767-4663, Ext. 413, or by e-mail firstname.lastname@example.org.