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House Key Schools
DOWNPAYMENT ASSISTANCE LOAN PROGRAM
House Key Schools Program is a downpayment 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 Home Advantage first mortgage loan program.
Borrowers must be first-time homebuyers or buying in a targeted area.
Borrowers must qualify for the Home Advantage Program first mortgage loan program.
MAXIMUM INCOME LIMITS as of 01/03/2014
All Other Counties: $71,400
Borrowers must attend a Commission-sponsored homebuyer seminar prior to reserving funds. Cash back to borrowers is not allowed.
MAXIMUM LOAN AMOUNT
Eligible households may qualify for a maximum loan amount of up to $10,000.
A 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.
Premier Participating Loan Officers who have been helpful
to first-time homebuyers. Your Lender will help you determine if this
downpayment assistance program is the best fit. You may want to consider the
Home Advantage Needs Based Option.
If you have questions about the House Key Schools Downpayment Assistance Loan Program, please call Karen Carlson-Bunce at 206.287.4413 or toll free in WA 800.767.4663, Ext. 413, or email Karen.Carlson-Bunce@wshfc.org.