This Down payment assistance program specifically for veterans is offered by the Washington State Housing Finance Commission.
This program, which is meant to be combined with a HomeAdvantage mortgage, can offer qualified veterans as much as $10,000 in assistance funds. This is offered as a 3% interest second mortgage with a 10-year term.
In order to qualify, the applicant must be: an individual with an honorable discharge or an honorable record and a medical discharge; a current member of the Washington National Guard and Reserve, or a former member with an honorable discharge; or a never-remarried spouse or dependent child of a deceased veteran. Applicants must also be either first-time homebuyers or purchasing a house in a designated target area. A homebuyer seminar must also be attended.
Income limits as of 2020 are as follows:
- King and Snohomish Counties: $96,000
- Kitsap County: $77,100
- Island County: $77,300
- 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
- HomeChoice Down Payment Assistance Program
- Bellingham Downpayment Assistance
- ARCH East King County Downpayment Assistance Loan
- Home Advantage Down Payment Assistance Loan Program