Comparing Low Down Payment Mortgage Programs

Young Couple With New HouseEDITORS NOTE: Fannie Mae is no longer offering the FannieMae HomePath mortgage program. If you are considering buying a Fannie Mae HomePath property (foreclosure that is owned by Fannie Mae) in Washington state, I’m happy to help you.

Home buyers have so many options today for selecting a mortgage today. We have several mortgage programs designed to help people buy a home who want to use less down payment. Many of these programs do not require the borrower to be a first time home buyer. Home buyers should compare all possible options before making a decision on what program is best suited for their personal financial scenario.

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Home Buyer Class in Green Lake

Seattle Home Buyer ClassesDo you or someone you know want to learn more about the home buying process? If so, you might consider attending my next Home Buyer Class that I will be teaching with Jim Reppond of Coldwell Banker Danforth. This class is sponsored by the Washington State Housing Finance Commission and participants are eligible for down payment assistance, programs like Home Advantage or Home Possible and/or mortgage credit certificates (MCC).

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WSHFC now offers reduced mortgage rates with no DPA

2013-03-07_0746The Washington State Housing Finance Commission offers several mortgage programs with various types of down payment assistance for home buyers. In order to qualify for the program, home buyers need to have household income of $97,000 or lower and attend a WSHFC sponsored home buyers class.

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Home Buyer’s Education Class in Kent

Seattle Home Buyer ClassesI will be teaching a Home Buyer’s Education Class at the corporate office of Mortgage Master Service Corporation on Saturday, January 18, 2014. My co-instructor is Ira Sacharoff, a Real Estate Broker with Better Real Estate.

Participants who attend this Washington State Housing Finance Commission sponsored class are eligible for programs like Home Advantage and for down payment assistance. The 5 hour WSHFC course is a requirement in order to qualify for these programs.

NOTE: This post has been updated. We decided to postpone the class, which was originally scheduled for January 11th to January 18th because of the Seahawks game. GO HAWKS!!

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Question about Home Advantage Down Payment Assistance (DPA)

mortgageporter-thinkingYesterday I received an email with this question that I thought would be helpful to my readers considering the popular Home Advantage Mortgage program with down payment assistance:

I’ve been studying the different loan programs in WA State and came across your website. We’re considering taking out a Home Advantage mortgage but need clarification on one of the restrictions.

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Eight Down Payment Assistance Programs for Washington Home Buyers

2013-03-07_0746Did you know that the Washington State Housing Finance Commission offers 8 different down payment assistance programs for Washington state home buyers? It’s true! And some of them do not require you to be a first time home buyer.  The WSHFC down payment assistance programs listed below can be used with a Home Advantage first mortgage:

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I Want to Buy a House

Do you or someone you know want to buy a house?

Could you use some help with down payment?

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Home Buyer Education Seminar in West Seattle, July 13, 2013 – UPDATE

On Saturday, July 13, 2013, Ira Sacharoff and I will instructing a Washington State Home Finance Commission sponsored home buyer education class at West Seattle’s High Point Library. (Here is my original announcement for this class.)

I’m pleased to announce we’ve added a guest speaker: Julie Beller from Cambridge Home Inspections.

Plus, Ira is bringing his infamous house roasted coffee and will be serving up Red Star Pizza for lunch to class attendees.

Of course you can still bring a sack lunch, if you prefer. We will be learning through the lunch hour as the WSHFC requires the class to be at least of 5 hours.

If you or anyone you know are considering buying a home and could use help with down payment, you should consider this class! Participants are eligible for the Home Advantage program and various WSHFC down payment second mortgages.

To RSVP, please call 253-234-2228 or online at seattlehomebuyerclass.eventbright.com – space is limited to this free event so please rsvp today!

Interested in other classes I’m teaching at? Click here.