Downpayment Assistance

Our downpayment assistance is only for homebuyers who use our home loan programs, either Home Advantage or House Key Opportunity. If your household income is under the program limits (up to $145,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible. Connect with a Commission-trained lender today, or find a free homebuyer education class near you!

It varies by program, but $10,000 is the average amount for a typical homebuyer.

If you refinance, per your executed note and our Home Advantage program manual, you will need to pay off the WSHFC downpayment assistance loan (the second mortgage). The Commission does not subordinate our loans to other loans. In order to request a DPA loan payoff, please contact the loan servicer of your main home mortgage (your first mortgage).

Yes. The interest rate is very low, from 0% to 4% depending on the program. It is wrapped into your main home mortgage, so you don’t have two bills to pay. Also, most of our downpayment loans are payment deferred—meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out of or refinance the property.

Ask your lender—or, fill in this quick form with information about your location, household size and income. One of our Homeownership staff will reply with recommendations just for you.