House
Key Veterans Program
A down payment
assistance second mortgage program with a 3.00% interest rate and a
ten-year loan term for Veterans who have served our country.
Who is Eligible:
-
Persons receiving an honorable discharge or who
have received a discharge for medical reasons with an honorable record;
members and honorably discharged former members of the Washington
National Guard and Reserve; and never remarried spouses and dependent
children of deceased Veterans.
-
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 VA, FHA House Key Loan, House Key Teacher, MyCommunityMortgage,
MyCommunityMortgage 40 year, MyCommunityMortgage Interest Only, Freddie Mac Home Possible 100, or Freddie Mac Home Possible 97.
To be eligible for a House Key Veterans loan you must not exceed the following
income limits:
-
Clark/Skamania
Counties
$67,900
-
Island/King/Snohomish
Counties
$81,400
-
Kitsap
Counties
$69,900
-
All
Other
Counties
$66,900
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 Veterans loan.
Who are the Participating Lenders in House Key
Veterans?
See
House Key Participating Lenders who have been
helpful to first-time homebuyers.
Questions about the House Key
Veterans 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 04/25/2008. |
