Down Payment Path

Down Payment Assistance Programs in Washington

Washington offers a range of down payment assistance programs to help homebuyers manage upfront costs. These initiatives are available to both first-time and repeat buyers, making homeownership more achievable across the Evergreen State.

Home Advantage Down Payment Assistance

The Home Advantage Program, offered by the Washington State Housing Finance Commission (WSHFC), provides financial aid for down payments and closing costs.

  • Offers up to 4% of the loan amount as assistance.
  • Provided as a 0% interest, deferred loan, repayable only upon sale, refinance, or transfer of the home.
  • Pairs with WSHFC’s affordable fixed-rate mortgage products.
  • Open to buyers meeting income and credit qualifications.

Opportunity DPA Program

The Opportunity Down Payment Assistance Program is designed to help low- to moderate-income buyers afford the upfront costs of homeownership.

  • Provides up to $15,000 as a deferred loan.
  • Available to eligible buyers purchasing their primary residence.
  • Can be combined with Home Advantage or other mortgage options.

Veterans Down Payment Assistance Loan

The Veterans Down Payment Assistance Loan provides targeted support for military personnel and veterans.

  • Offers up to $10,000 in assistance as a deferred loan.
  • Eligibility includes honorably discharged veterans and active-duty service members.
  • Pairs with WSHFC’s Home Advantage program or standalone mortgage options.

USDA Rural Development Loans

For buyers in rural areas of Washington, the USDA Rural Development Loan offers affordable financing with no down payment requirement.

  • Open to low- and moderate-income buyers in USDA-designated rural areas.
  • Features competitive interest rates and flexible credit requirements.
  • Can be combined with WSHFC assistance programs to cover closing costs.

Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program provides valuable tax savings to reduce the long-term cost of homeownership.

  • Allows buyers to claim a federal tax credit for a portion of their annual mortgage interest.
  • Pairs with WSHFC loans and down payment assistance programs.
  • Income and purchase price limits apply but accommodate a wide range of buyers.

Local Assistance Programs

Several cities and counties in Washington provide additional support for homebuyers through grants or low-interest loans for down payments and closing costs.

  • Programs in areas like Seattle, Tacoma, and Spokane often target buyers in revitalization zones or provide enhanced benefits for public service workers such as teachers and first responders.
  • Eligibility requirements and assistance amounts vary by location.
  • Local programs can often be combined with statewide initiatives for greater financial support.

Washington’s down payment assistance programs are designed to reduce financial barriers and make homeownership more accessible for a diverse range of buyers. Whether you’re purchasing your first home or upgrading, these resources can help you achieve your dream of owning a home in the Evergreen State.