The National Home Buyers Fund (NHF) recently made changes as to how much grant funds a home buyer may be eligible for. The grant funds are available to help qualified home buyers with funds for closing cost and down payment. Unlike other forms of down payment assistance, grant funds are not repaid by the home buyer – it’s kind of like a gift from a rich uncle or aunt that you didn’t know you had. 🙂 You can learn more about the NHF Grant program by clicking here.
NHF limits Grant Amounts based on Credit Scores
November 24, 2015 by Leave a Comment
Many Washington State Homes (and Home Buyers) are eligible for Down Payment Assistance Programs
February 22, 2015 by Leave a Comment
RealtyTrac and Down Payment Resource recently compiled a report of how many homes are eligible for various down payment assistance programs by county. Their report revealed that 87% of homes in the United States may qualify for down payment assistance (DPA) for home buyers.
Tips on how to save up for a down payment
December 19, 2014 by Leave a Comment
Get Rich Slowly recently posted How to Save Up for a Down Payment Fast. I’d like to respond to some of the ideas offered in GRS’s post from a Mortgage Professional’s viewpoint and offer my advice.
Here are some of the suggestions on How to Save Up for Down Payment Fast along with my 2 cents (in italics).
Congratulations to the Washington State Housing Finance Commission!
September 14, 2014 by Leave a Comment
I’ve just learned that last month, the Washington State Housing Finance Commission did their 50,000 closing! In other words, WSHFC has helped over 50,000 families buy a home in Washington state using one of their first mortgage and down payment assistance programs. The 50,000th home buyers are from Federal Way and represent a typical Home Advantage home buyer:
Home Buyer Class in Seattle
August 13, 2014 by Leave a Comment
I will be teaching a home buyer class in Seattle with Jim Repppond of Coldwell Banker Danforth on Saturday, September 13, 2014 at the Broadview Library in Seattle.
The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).
If you are considering buying a home with your spouse, partner or friend, they will need to attend the class with you to qualify for the programs. You do not need to be a first time home buyer to qualify for many of the mortgage programs. And of course, you’re welcome to attend if you’re not interested in down payment assistance programs and you just want to learn more about the home buying process.
Home Buyer Class in South Seattle
June 27, 2014 by Leave a Comment
I will be teaching a Home Buyers Education Class with Ira Sacharoff of Better Properties Real Estate Seattle on Saturday, August 9, 2014 at the Skyway Public Library. This class is sponsored by the Washington State Housing Finance Commission.
Students will learn about the home buying process and will receive a certificate at the end of the class making them eligible for:
Washington State Down Payment Assistance Programs and Grants
June 18, 2014 by 18 Comments
Washington State home buyers have several various down payment assistance programs available and they’re not just limited to first time home buyers. These funds can go towards closing cost and the down payment of primary residence.
Here’s an updated list of what I have available.
NEWS FLASH: Home Advantage Rebound DPA is no longer available
May 30, 2014 by Leave a Comment
This morning I received an email from the Washington State Housing Finance Commission that one of the Home Advantage Rebound program has ran out of funds and is no longer available. If you were planning on using this for your down payment assistance, and you have a transaction in progress, check with your mortgage originator asap to see if the funds were reserved. If they were not reserved, then you’ll need to come up with a “plan b”, which may include using their stand-by program Home Advantage.
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