Seattle Downpayment Assistance Program

This downpayment assistance program, which is offered by Washington’s Housing Finance Commission as a second mortgage, can be combined with either the Home Advantage or Opportunity mortgage as the first loan.

For those looking to buy their home in Seattle, as much as $55,000 is offered as down payment and closing cost assistance. Payments for this loan are deferred for as long as 30 years, with a 3% simple interest rate. Only first-time homebuyers who plan to use their home as a primary residence are allowed.

Applicants must participate in a homebuying education seminar, which is also offered by the Washington State Housing Finance Commission, and obtain a certificate of completion. As of 2020, seminars are virtual only. They are five hours or longer and offer information necessary to purchase, own and maintain a home. Advanced reservations are required for seminars.

Applicants must be able to put down at least 1% of the sales price of the house, or $2,500 (whichever amount is larger). Gift funds can be used for as much as 25% of the required payment, but no more than that. Borrowers must also fall within specified household income limits, which depend on household size.

Other programs in Washington:

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