Washington - Government Backed Loans

The Washington State Housing Finance Commission is a publicly accountable, self-supporting team dedicated to increasing housing access and affordability and to expanding the availability of quality community facilities for the people of Washington.

Refinance Programs

House Key State Bond

The House Key State Bond program offers below market, fixed-rate, 30-year mortgages to first-time homebuyers. Income and purchase price limits apply, and borrowers must attend a homebuyer education seminar. Homebuyers may choose from a number of loans, including a FHA, VA, Conventional or RD loan.

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http://www.wshfc.org/buyers/Brochure.pdf

House Key Plus

The House Key Plus program provides downpayment and closing costs assistance to first-time homebuyers in the form of a second loan. Up to $7, 500 is available through this second mortgage if the home is located within Clark, Island, King, Pierce or Snohomish counties, and $5, 000 for all others.

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HomeChoice

The HomeChoice program provides a downpayment and closing costs assistance to low- to moderate-income homebuyers who have or who live with a family member who has a permanent disability. Designed to provide assistance to homebuyers who qualify for a House Key State Bond program, the maximum loan amount through HomeChoice is $15, 000.

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House Key Plus Seattle

The House Key Plus Seattle program is designed to assist residents located within the city limits of Seattle in purchasing their home. This program combines with the House Key State Bond program to provide a downpayment and closing costs assistance up to $60, 000 in amount, and is deferred for 30 years at a 3% interest, and Shared Appreciation is required for the first 9 years.

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House Key Plus Arch East King County Program

The House Key Plus Arch East King County Program is used in conjunction with a House Key State Bond first mortgage in order to provide first-time homebuyers located within an ARCH member city or surrounding east King County ARCH area with a second mortgage. This second mortgage is put toward a downpayment and closing costs, and is available up to $30, 000 in amount at an interest rate of 4%.

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House Key Veterans

The House Key Veterans program offers qualifying military veterans a downpayment and closing costs assistance in the form of a deferred-payment, 10-year, second loan. This loan is to be used in conjunction with a House Key State Bond first loan, and has an interest rate of 3%. Borrowers must be first-time homebuyers and fall within income and purchase price limits.

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House Key Schools

The House Key Schools program offers downpayment and closing costs assistance to full-time teachers who are also first-time homebuyers. This second loan is available up to $10, 000 in amount, and must be used in conjunction with a House Key State Bond first loan. Interest rate is 3%. Borrowers must fall within the income and purchase price limits.

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