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House Key Veterans
House Key Veterans is a down payment assistance, second mortgage loan program with a 3.00% interest rate and a ten-year loan term for veterans who have served our country. House Key Veterans combines with the House Key State Bond first mortgage loan program.
ELIGIBLE BORROWERS
- 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.
MAXIMUM INCOME TO BE ELIGIBLE FOR THE HOUSE KEY VETERANS PROGRAM
- 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.
MAXIMUM LOAN AMOUNT
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.
PARTICIPATING LENDERS
See House Key Participating Lenders who have been helpful to first-time homebuyers.
QUESTIONS ABOUT THE HOUSE KEY VETERANS PROGRAM
Contact Karen Carlson at 206.287.4413 or toll free in WA 800.767.4663, Ex 413 or karen.carlson@wshfc.org
Have you contacted the Washington State Department of Veterans Affairs to discuss benefits?
Please visit http://www.dva.wa.gov or call 1-800-562-2308
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Read about the Memorandum of Understanding between The Washington State Department of Veterans Affairs (WDVA), Washington State Housing Finance Commission (WSHFC), and Washington Association of Realtors®.
06/08/2011