If you or a member of your household have a disability, you may be eligible for HomeChoice down payment assistance, a program offered by the Washington State Housing and Finance Commission. This is a second mortgage loan for as much as $15,000 to help with the costs of closing and the down payment. It has an interest rate of 1%, but does not need to be repaid until the house is sold, refinanced, or 30 years have passed.
HomeChoice is meant to be used with a House Key or Home Advantage first mortgage.
In order to qualify, in addition to having a disability or living with a family member with a disability, the applicants have to be either first-time homebuyers or purchasing a house in a designated target area. Applicants also have to attend a seminar about homebuying.
Income limits, which vary by location, apply for this program. As of 2020, these limits are:
- King or Snohomish County: $96,000
- Island County: $77,300
- Kitsap County: $77,100
- All Other Counties: $76,500
Other programs in Washington:
- Tacoma Down Payment Assistance Program
- Seattle Downpayment Assistance Program
- Pierce County Downpayment Assistance Program
- Opportunity Downpayment Assistance Loan Program
- Bellingham Downpayment Assistance
- ARCH East King County Downpayment Assistance Loan
- Home Advantage Down Payment Assistance Loan Program
- Veterans Downpayment Assistance Loan Program