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House Key Schools
House Key Schools Program is a down payment assistance second mortgage loan 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. House Key Schools 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.
MAXIMUM INCOME LIMITS
- Clark/Skamania Counties: $72,000
- King/Snohomish Counties: $86,800
- Kitsap/Thurston Counties: $74,500
- All Other Counties: $71,900
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.
PARTICIPATING LENDERS
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
06/08/2011