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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

May 19, 2017
Updates to DPA Program

The following changes have been made to the Seattle DPA program for reservations made on or after May 22, 2017:

New purchase price limit of $450,000 for new and existing homes.

New maximum loan amount up to $55,000 towards down payment and closing costs.

New income limits.

On-line homebuyer education class https://www.ehomeamerica.org/wshfc is now acceptable for the Seattle DPA program.

The Shared Appreciation feature has been removed. The following document is no longer required:
o Sample Shared Appreciation Disclosure.

HOME fund requirement no longer apply. The following HOME documents are no longer required:
o Disclosure of HOME Program Requirements.
o Initial Estimated Fair Market Value Notice.
o Final Estimated Fair Market Value Notice.
o HOME Recapture Agreement.

The updated manual will be posted soon: http://www.wshfc.org/sf/dpaSeattleManual.pdf.

The updated HomeChoice Downpayment Determination Income Charts are now posted: http://www.wshfc.org/sf/dpaHomeChoiceIncomeChart.pdf

                            

 
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