Homeownership Programs

House Key Schools

A down payment assistance second mortgage program with a 3.00% interest rate and a ten-year loan term for teachers and employees of community or technical colleges and K-12 public or private schools that are accredited or recognized by the state of Washington.

• 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, or Freddie Mac Home Possible.

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

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

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.

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 Schools loan.

Who are the Participating Lenders in House Key Schools?

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

Questions about the House Key Schools 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 04/24/2009.