Today's Mortgage Rates in Washington (WA)

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Home Advantage Program

This program is designed to help residents secure a good interest rate on a home loan. Working through one of the commission’s participating lenders, you’ll qualify for a 30-year mortgage with a special interest rate as well as down payment assistance of up to 4% of your total loan.

You can find the Home Advantage rates on WSHFC’s website.

Home Advantage Down Payment Assistance

WSHFC recognizes that for many households, a significant hurdle to becoming a homeowner is the down payment and closing costs.

The commission lowers this barrier by offering loans you can use to pay these upfront costs. You’ll need to have a mortgage through the Home Advantage program and a minimum credit score of 620.

With the Home Advantage DPA, you can qualify for up to 4% of the total loan amount or even 5% if you’re using WSHFC’s conventional HFA Preferred loan.

The loan has a 0% interest rate, and you won’t need to make any payments for 30 years.

Home Advantage Down Payment Assistance – Needs Based Program

This down payment assistance program also requires you to have a Home Advantage mortgage.

With the needs-based program, you can receive a loan of up to $10,000, with a 1% interest rate. Payment will still be deferred for 30 years.

Because this is a needs-based program, you’ll have to meet specific household income limits: no more than $113,300 in King/Snohomish and $89,800 in all other counties. However, if you are a veteran, you are exempt from the assessment of need.