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HomeSight’s Director of Real Estate Development, Uche Okezie, is a Woman on a Mission to Bring Co-ops to Seattle

HomeSight’s Director of Real Estate Development, Uche Okezie, is a Woman on a Mission to Bring Co-ops to SeattlE!

It’s not a condo, and it’s not communal housing, but a co-op is a model that’s worked to provide affordable homeownership opportunity in hard-to-afford cities.

People may not be familiar with the word ‘ʔúləx̌’ – it’s the Lushootseed word for ‘gather’ – but the word ‘co-op’ should be in every Seattle homebuyer’s vocabulary, according to HomeSight’s Real Estate Development Director Uche Okezie.

Cooperative homes are common in historically expensive east-coast cities, but most Seattleites have never heard of them. However, Seattle’s changing homeownership climate played a major role in Okezie’s decision to bring the limited equity cooperative (or LEC) model to Seattle.

Since HomeSight began working to help people purchase homes 30 years ago, “things have changed in Seattle,” Okezie explained. “Land is more expensive. HomeSight typically relied on down-payment assistance to help income-qualified folks purchase homes, but there’s just not enough to cover the gap in affordability between what they can afford and what the market says they have to pay in order to purchase it.”

Okezie said an LEC provided “another pathway to provide that first level of affordability.”

Sometimes described as the ‘first rung’ of the ladder to homeownership, co-ops make everyone who is a resident in the building a part owner of the building. Co-op purchasers, said Okezie, “have bought shares that give them the right to live in their unit for however long they own their shares. It gives each household, or member, a vote in all the building operations. Whether it’s the budget, or the board of directors — who are elected co-op members – their share gives them a vote on what happens with their building and in their community, and that community is the building.”

Okezie said community is a significant difference between condo ownership and co-op ownership. “Because everybody owns the building cooperatively, they all have a vested interest in its destiny, its future, and they have the right to communicate that to their fellow members, the people with whom they share this asset,” said Okezie. “And although you are building your individual wealth with the purchase of your shares, you’re also collectively building wealth in the form of the asset that you all live in and share.”

The biggest stumbling block for buyers is unfamiliarity. “It’s just not a common model here,” said Okezie. “I would love for this to be something that was completely normalized and another homeownership option for people.”

The dream of homeownership can be realized for more people with “more co-ops, more limited equity co-ops, and more demand for these units.” Okezie wants co-op ownership to be “just as commonplace as saying: ‘I own a condo.’”

U-lex @ Othello Square has just 20 units remaining for sale to income-qualified buyers. Situated next to the light rail station at Martin Luther King Jr. Way and South Holly Park Drive, U-lex will offer 68 units affordable to families earning 80 percent or less of the area’s median income at the time of purchase. To be eligible, purchasers must meet the income requirements, be first-time homebuyers, or have not owned a home in the past three years. Learn more about U-lex here.

Plate of Nations is Bringing Back Date Night!

Plate of Nations is Bringing Back Date Night!

With participating restaurants spanning the globe from Laos to Ethiopia, Southeast Seattle’s Restaurant Promotion Week highlights the unmatched diversity of its amazing food — and culture.

Between March 21 and April 6, western Washingtonians can emerge from a dark winter and hit the town on a 17-day culinary and cultural world tour – and they won’t have to venture beyond Seattle to do it. HomeSight’s Plate of Nations will return for its 14th year of celebrating southeast Seattle’s vibrant culinary scene, and this year, we’re inviting everyone to make their adventure a whole evening out with dinner and a show.

This year, Seattle’s most diverse restaurant week will feature around 75 independently owned restaurants that highlight the incredible cultural diversity in southeast Seattle, particularly along the Martin Luther King, Jr. corridor.

In addition, social media contests on Instagram, TikTok and Facebook leading up to the event will offer chances to win “dinner and a show” – gift cards to participating restaurants and tickets for local movie houses, music venues and theaters in southeast Seattle.  Customers can win prizes during Plate of Nations by downloading a “passport” from the Plate of Nations website, or at any participating restaurant) to record their culinary trip around the world.

Participating restaurants include neighborhood favorites as well as brand-new establishments. They include Taco City, Delish Ethiopian, Rainier BBQ, The Original Philly’s, Southtown Pie and many more.

Immigrants from around the world have settled in Rainier Valley and started businesses that provide cultural favorites for ethnic communities looking for a taste of home. Those restaurant owners are excited to welcome other customers to join in their traditions.

“Southeast Seattle is so unique,” said HomeSight’s Community Development Director Sarah Valenta. “You can walk down the street and hear dozens of languages spoken. With so many cultures represented here, our food scene has choices from all over the world, and it’s all as authentic as you can possibly get. We’re so excited to partner with southeast Seattle’s cultural institutions as well this year. It’s a real celebration of what southeast Seattle has to offer.”

The event was conceived in 2011 by former Salima owner Asari Mohamath, a Cham Muslim refugee from Vietnam. HomeSight – a nonprofit catalyst for equitable homeownership and community development in southeast Seattle – has organized Plate of Nations since its inception.

Sponsored and managed by HomeSight, Plate of Nations is co-sponsored by the Martin Luther King Business Association, Amazon, the Seattle Office of Economic Development and the Essential Southeast Seattle Collective.

Meet the woman behind Plate of Nations: Sarah Valenta

During nearly 20 years at HomeSight, Community Development Director Sarah Valenta has been a woman with a mission, a vision, and an appetite for growth.

Southeast Seattle was a different neighborhood when Sarah Valenta began her HomeSight career in community development. “Back then, the city’s goal was to fill storefronts however possible,” said Valenta. “HomeSight’s approach to community development was different. We recognized southeast Seattle was at risk for gentrification, so we set goals that prioritized anti-displacement and neighborhood retention. We collected data, did research, and involved the entire community in planning for programs and progress.”

The storefronts along Rainier Avenue filled with small business owners who lived in the community. HomeSight’s focus grew to include businesses and community members in all of Rainier Valley.

“Building generational wealth through business ownership and growth is a traditional way for people of color, immigrants, and refugees to improve their economic situation,” Valenta said. “Supporting entrepreneurship and business growth in Rainier valley helps these specific communities but we’re really lifting whole community. We’re all in this together.”

Meet Plate of Nations Chef Talya Miller

Meet Plate of Nations Chef: Talya Miller

Talya Miller—chef, entrepreneur, and HomeSight board member—shares how she blends community outreach, healthy Southern cuisine, and small-business success.

Talya Miller first opened The Comfort Zone, a Seattle soul food restaurant, in The Royal Esquire Club—a nonprofit club serving Seattle’s Black community since 1948. Miller’s fresh, healthy take on traditional Southern fare has helped her business grow to an independent location in the Central District.

For Women’s History Month, and to celebrate 2025’s Plate of Nations, HomeSight sat down with Miller to discuss healthy Southern cuisine, small business ownership and HomeSight’s hyperlocal approach to community development.

HomeSight: Why did you choose to open your restaurant in the Royal Esquire Club?

Miller: Cooking has always been a passion of mine, and both sides of my family have a tradition of showcasing culinary skills. Encouraged by family and friends—especially my mother, one of seven siblings who are all excellent cooks—I pursued this path. My grandmother and my father’s younger brother are also exceptional cooks.

Established in 1948 by Black men to support the community, The Royal Esquire Club has always held significant meaning for my family. Being part of an organization that uplifts the community resonated deeply with me, as our core values align. I was thrilled at the chance to serve them. I wanted The Royal Esquire Club to be more accessible to the public. As a private club, its reach was limited. Introducing The Comfort Zone restaurant within its space allowed the broader community to engage with the club more frequently.

HomeSight: What is it like cooking with your daughter?

Miller: Cooking with my daughter at The Comfort Zone is incredibly rewarding. Together, we craft soul food that blends tradition with health-conscious choices. We honor classic Southern dishes while accommodating various dietary needs by using fresh, local ingredients. For example, we substitute turkey for pork, streamline recipes, and offer vegetarian, vegan, dairy-free and gluten-free options. Our goal is to balance rich flavors with nutrition, ensuring each meal is both delicious and nourishing.

HomeSight: You’ve participated in Plate of Nations for several years now. How did this experience shape your business?

Miller: Participating in Plate of Nations has been transformative for The Comfort Zone. Events like Plate of Nations are vital as they unite the community by celebrating cultural diversity and introducing small businesses to new patrons, boosting economic growth. Beyond showcasing our restaurant, I enjoy discovering and supporting fellow local eateries, enriching my culinary perspective and strengthening community bonds.

HomeSight: You serve as secretary on HomeSight’s board. How has your board tenure been, and what are your goals—both for HomeSight and your business?

Miller: My involvement with initiatives like Plate of Nations inspired me to join the board and it’s been deeply rewarding. On the board, I contribute to strategic decisions that enhance our neighborhoods. My goal is to promote inclusive growth and ensure our programs meet community needs. Looking ahead, I plan to expand The Comfort Zone’s offerings, deepen our local partnerships, and collaborate with community partners to establish a food bank.

HomeSight: What advice do you have for young entrepreneurs hoping to start a restaurant or business?

Miller: Start by visiting HomeSight’s website and exploring their Resources page to find programs that align with your business needs. If you need assistance during the application process, HomeSight offers support—don’t hesitate to reach out for clarification. For Plate of Nations, express your interest by contacting the event coordinators through the Plate of Nations website.

Talya Miller, Owner of The Comfort Zone and HomeSight’s Board Secretary

Thrive in 2025: Unleash the Power of Homebuyer Education

Thrive in 2025: Unleash the Power of Homebuyer Education

You – Yes, You – Can Become an Expert in Your Own Finances, and Once You Do, Financial Independence is Yours

Some people can look at a pile of bills, receipts and bank statements and turn them into a beautiful financial plan. The rest of us? Maybe not. Personal finance isn’t taught in many schools, and it’s not easy to self-teach, especially if you don’t know where to start. Instead of telling yourself you “should really start getting ready to buy a home this year,” reach out and get FREE one-on-one guidance and instruction. You don’t have to figure it out on your own.

Here’s how homebuyer education can help you …

… Make Your Finances Serve Your Needs and Meet YOUR Goals

HomeSight’s homebuyer education doesn’t just prepare you to buy a home; it equips you with the skills and knowledge to achieve financial independence. By understanding and managing your credit, learning financial discipline, and walking through a demystified homebuying process, you – and anyone – can make sound financial decisions for the long-term. You choose the destination, and financial education helps you set the course.

… Banish Fear and Confusion from the Homebuying Process

HomeSight’s counselors tell us that when homebuyers education clients arrive, it’s not unusual to hear them describe the process as “overwhelming” and “probably not possible.” By the time homebuyer education breaks down the steps involved in purchasing a home – from securing financing to understanding mortgage options and navigating the closing process –our clients tell us they are ready to start the search for their dream home.

… Improve Your Credit (and Access to Financing)

We really can’t understate the role credit plays in our financial lives. Credit can determine whether you can qualify for a mortgage and even which interest rate you’ll get. Homebuyer education can show you how to improve your credit and teach you how to use your credit wisely. Improving your scores leads to better loan terms and puts your goals within reach.

… Avoid Setbacks

You can’t avoid pitfalls if you don’t know where to look for them. Homebuyer education will show you how to avoid common mistakes such as taking on a mortgage you can’t afford, failing to budget for home maintenance costs, or misunderstanding loan terms.

… Build Long-Term Wealth

Owning a home remains one of the most effective ways to build wealth over time, especially when you have the tools and knowledge to manage it properly. Homebuyer education can teach you how to leverage homeownership to increase your long-term financial security, You’ll learn how home equity works, how homeownership creates generational wealth, and recognize the long-term benefits of owning rather than renting.

… Navigate Down Payment Assistance Programs

Do you know about all the available programs designed to make homeownership more affordable for first-time homebuyers? HomeSight does. Whether it’s down payment assistance, first-time homebuyer programs or tax credits, HomeSight can help you identify and access these resources.

What are you waiting for?

Let’s get started!

We’re Taking These Five Actions Today to Further Dr. King’s Vision – And You Can Join Us

We’re Taking These Five Actions Today to Further Dr. King’s Vision – And You Can Join Us

In his 1967 speech “Where Do We Go from Here?”, Dr. Martin Luther King Jr. emphasized that economic disparity was not simply a byproduct of racism but a deliberate outcome of policies and practices that reinforced segregation and limited access to financial prosperity.

Dr. King’s call for economic justice remains as relevant today as it was in 1967, and today, January 20, 2025, the holiday honoring his legacy is a call to action.

HomeSight, along with 90 other regional organizations working in partnership for homeowning equity in the Black Home Initiative, are taking a systemic, multi-faceted approach to fulfilling Dr. King’s vision. We are:

  1. Expanding Down Payment Assistance Programs. Many BIPOC first-time homebuyers struggle to save for a down payment due to historical income and wealth gaps. HomeSight offers several down payment assistance programs to serve the whole community, with initiatives such as the Sam Smith “Hi Neighbor” Homeownership Fund.
  2. Strengthening Anti-Displacement Efforts. HomeSight’s cooperative housing development, U-lex@Othello Square is an intentional anti-displacement tool, prioritizing sales to south Seattle residents and stakeholders, and allowing neighbors a chance to stay in Seattle while stabilizing their housing costs and building equity and generational wealth.
  3. Promoting Inclusive Lending Practices. HomeSight is dedicated to inclusive lending practices, building a bridge to affordability for community members who never believed they could own their homes.
  4. Increasing Affordable Housing Development. HomeSight and Black Home Initiative are prioritizing the construction of affordable housing, while ensuring BIPOC developers have a seat at the table. The Field Order 15 Fund offers planning and financial support for BIPOC developers who are building affordable units accessible to low- and middle-income families.
  5. Providing Financial Education and Resources. HomeSight offers free homebuyer education and HUD-certified counseling focused on credit building, mortgage readiness, and long-term financial sustainability to empower more BIPOC families to achieve homeownership.

Now more than ever, achieving equity requires intentional action from policymakers, financial institutions, and community leaders working together. By joining the Black Home Initiative and supporting organizations such as HomeSight, you can join the efforts to dismantle structural inequality at its roots, honoring Dr. King’s legacy and building a future where opportunity and prosperity are accessible to all.

 

HomeSight Receives Bank of America’s Neighborhood Builders Award

HomeSight Receives Bank of America’s Neighborhood Builders Award

HomeSight is proud to announce it has been awarded Bank of America’s Neighborhood Builders Award. The award provides multi-year funding and leadership training to high-impact nonprofits driving economic mobility in communities nationwide. This year, HomeSight, The Coffee Oasis, and Rise Above and its founder were chosen as the 2024 Neighborhood Builders for their work to advance economic mobility.

The award comes with a two-year grant, as well as leadership training for HomeSight’s Executive Director Darryl Smith, and its selected emerging leader, Portfolio Director Scott Kim. Since the program’s inception in 2004, 41 Puget Sound area nonprofits have been selected as Neighborhood Builders.  

“Receiving the Neighborhood Builders award allows us to promote social and economic mobility by creating affordable homeownership opportunities, supporting small businesses, and strengthening community advocacy,” said Daryl Smith, executive director of HomeSight. “With Bank of America’s partnership, we can provide innovative resources that allow our community members to build prosperity on their own terms.”

Since 1990, HomeSight has unlocked doors to homeownership and worked to create vibrant communities throughout Washington state. Through education, counseling, and lending, HomeSight creates new homebuyers across Washington, develops affordable housing projects for first-time homebuyers, and collaborates with diverse Seattle communities to strengthen local economic stability and preserve affordability.

“This year, we celebrate the 20th anniversary of the Neighborhood Builders program in Seattle as a testament to Bank of America’s commitment to helping nonprofits scale their impact and create meaningful change in our communities,” said Jim Morehead, president of Bank of America Seattle. “This is the second time HomeSight has been named a Neighborhood Builder and we applaud their work creating pathways for stronger, healthier, and more economically stable futures for individuals and families in our region.”

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Your Top 10 Mortgage FAQs,

   

Your Top 10 Mortgage FAQs

 

Answered by Our Mortgage Lending Team

At HomeSight, our mortgage team loves making clients’ homeownership dreams come true. Buying a home is the biggest investment most people will make, and you’ll have questions. We asked Mortgage Loan Originator Sonda Swanberg to name the 10 questions she gets asked most frequently. We’ve listed them below, along with Sonda’s answers, to familiarize you with the mortgage lending process.

Q: Is there a minimum credit score limit?

A: Yes, HomeSight’s minimum credit score is 620. We use the median of all three scores from the three credit bureaus: Equifax, Experian, and TransUnion. When looking at all three credit bureau scores, we use the median score. For example, if your credit scores are 705, 680, and 715, HomeSight would use 705 as your qualifying credit score.

Q: I have some 30-day lates and collections on my credit report. Am I disqualified?

A: If you have 30-day lates reported on your credit report in the last 12 months, you must wait until there is at least 12 months since your last reported late/missed payment. Lates more than a year old require a Letter of Explanation (LOE) explaining the late or missed payment. All items in collections, including disputed items, must be paid in full or removed from your credit report before moving forward with the loan process.

Q: I haven’t filed taxes for one or more years. Do I need to file before I can apply for a home loan?

A: If you worked in that year and did not file, yes, you must file your return before applying for a mortgage loan. If you did not work or are “tax-exempt,” a short LOE stating the reason you did not file is sufficient.

Q: I filed for bankruptcy and/or my house was foreclosed upon in the last seven years. Must I wait until seven years pass before I can apply for a home loan?

A: No. At HomeSight, the seasoning period for bankruptcy or foreclosure is four years. You can apply after the four-year anniversary of your bankruptcy/foreclosure. Be prepared to write a LOE on the circumstances you had to file for bankruptcy, or your home was foreclosed upon.

Q: Are the Down Payment Assistance (DPA) funds “free” money?

A: No, you must repay the funds you borrow. All our DPA programs are 30 years deferred. This means you do not have to pay back the funds until one of three events occur:

  • You stay in your home for 30 years and make the last mortgage payment, then you will be responsible for the DPA funds. These go against the house as a second (or subsequent) lien.
  • You sell your house and the DPA will be paid for through the sale funds. Your first lien will be paid first, then the DPA funds will be paid. Then, if any funds are remaining, you will be issued a check or direct deposit.
  • You refinance your house. In this case, the equity in the home will pay off the DPA funds. If there is not enough equity to pay off the liens, you might be able to roll them into the new mortgage loan.

Q: Is there a balloon payment associated with these loans?

A: Yes, a balloon payment is a large payment due at the end of the loan period. The DPA funds/liens come due when one of three events occur (see the question above). If you do not have the funds saved to pay off the DPA loans, you can refinance your home, using the equity you’ve earned to pay off the liens, resulting in a new mortgage.

Q: If I am using Down Payment Assistance Program funds, do I need to use any of my own money for the purchase of the home?

A: Yes, we require all our borrowers to come in with a minimum of 1% of the purchase price of the house, or $2500, whichever is greater.

Q: How do I apply for a home loan through HomeSight?

A: You will want to visit www.HomeSightWa.Org/Portal and create an account. Once you complete your profile, you will be able to schedule a counseling appointment – this is a required step – and a lending consultation with a mortgage loan originator. Your lending staff will assist you with your loan application once we receive your required documents.

Q: What documents are required to begin my loan application?

A: Everyone must submit the following:

  • The front and back of your government-issued ID AND your Social Security Card or ITIN letter.
  • Your most recent bank statements going back two months – all pages –including checking, savings, money market, investment and retirement accounts.
  • Your three most recent paystubs, if applicable.
  • Your 2021, 2022, 2023 W2’s and tax returns.

Q: Are there other documents I should have ready?

A: If these documents apply to your situation, please have these handy as well.

  • If you’ve been through a bankruptcy: Bankruptcy paperwork, including discharge papers.
  • If you pay child support: your parenting plan, plus six months of payment statements if collected through DSHS Support Enforcement. If not collected through Support Enforcement, six months of bank statements showing payments.
  • If you are divorced: your divorce decree.

We know you’ll probably have more questions than these during the homebuying journey, and we welcome them. Sign up today for homebuyer education classes or contact HomeSight directly. We look forward to helping you navigate your financial future!

Field Order 15 Fund Expands its Scope to Include Land Purchase Funds

Field order 15 fund expands it scope to include land purchase funds

Funds from the Community Reinvestment Project (CRP) Will Support Innovative, Intentional Solution to Deeply Rooted Homeownership Inequity

 

HomeSight Executive Director Darryl Smith joined Commerce Director Mike Fong at Othello Square in south Seattle Friday for the announcement of the state’s 19 recipients of the Community Reinvestment Program (CRP) grants.

The grant awarded to HomeSight will provide $5 million to expand the Field Order 15 Fund and $2.8 million to provide homeownership down payment assistance and create a new low-interest loan program.

Launched in January in partnership with the Black Home Initiative (BHI), the Field Order 15 Fund provides upfront grant money, eligibility for low-interest lending and technical support for BIPOC developers who are building affordable homes in the communities that need these resources most.

The grant expands the program to enable BIPOC developers to purchase the land on which they’ll be building, allowing developers to take the next step in the process, and opening previously closed doors for home developers.

The CRP is a community-designed plan to uplift those disproportionately harmed by the war on drugs. The aim is to advance equitable economic development by helping target communities acquire and secure assets and work together to achieve goals.

Smith, speaking at the press conference, said: “Racial disparity in homeownership wasn’t created by accident and it won’t be fixed by accident. HomeSight and BHI partners are grateful for this investment, which will lower barriers for builders who are invested in our goal to improve homeownership rates for the BIPOC community. These builders need and deserve a seat at the table and a voice in the solution to the affordable housing shortage.”

BIPOC homebuilders make up half a percent of real estate developers nationwide.

“The Field Order 15 Fund is an innovative approach to reducing racial disparities in the region’s housing market, which is the key driver behind BHI,” said Michael Brown of BHI. “Washington is experiencing a housing shortage that’s disproportionately impacting BIPOC communities. Working with HomeSight, we’re taking an equitable approach to building inventory and creating more BIPOC homeowners.”

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National Mortgage Professional Month – Scott Kim

NATIONAL MORTGAGE PROFESSIONAL MONTH: SCOTT KIM

National mortgage professional month

This National Mortgage Professional Month celebrates those who advocate for Diversity, Equity, and Inclusion. HomeSight, known for its mission-driven mortgage professionals, asked Director of Portfolio Scott Kim how he’s worked toward becoming a leader in the mortgage and housing sector while championing these values.

SCOTT KIM

Meet HomeSight’s Director of Portfolio  Scott Kim

Scott Kim, oversees the loan portfolio, homebuyer education, lending origination teams. What drives him? “If I can help a few families like mine, I’ve accomplished my mission, along with HomeSight’s,” he says.

Scott’s family immigrated to the U.S. when he was five years old. They lived in a single room for 18 months while his parents saved for an apartment deposit. After eight years of budgeting and sacrifice, they achieved homeownership.

“I can’t help but wonder how much sooner we could’ve purchased our home if we had access to an organization like HomeSight,” Kim said. Scott Kim’s personal connection to HomeSight fuels his passion and ability to connect with clients.

“HomeSight is a unicorn in the Washington State mortgage industry,” Kim said. “Other organizations support homeownership for low- to moderate-income LMI borrowers, but not at HomeSight’s level. We provide $50,000, $100,000, or even over $200,000 in down payment assistance. I don’t know of another organization in Washington State doing this.”

Scott Kim describes his journey at HomeSight as challenging yet rewarding. One memorable project involved assisting a first-time buyer with a HomeSight development resale, guiding her through the process and handing over the keys.

“The genuine appreciation and emotions I felt from the buyer were one of the most rewarding experiences of my life,” Kim said.

Scott Kim (left) at the HomeSight booth at Housing Washington 2024, the local statewide annual affordable housing conference.
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Essential Tips to Kickstart Your Homebuying Journey

Essential Tips to Kickstart Your Homebuying Journey

The process of buying a home can feel overwhelming, but here are some tips to help you get started on your homebuying journey.

Q: I want to buy a home. How do I start?

A: HomeSight’s homebuyer counselors will create a personalized road map for you. Ready, Set, Go for your financial dreams today!

Your first step to buying a home is signing up for free homebuyer counseling. Homebuyer counselors specialize in helping families achieve their dreams of homeownership by giving clients personalized financial planning services.

HomeSight’s HUD-certified counselors Pat Montgomery and Wanda Maldonado listen, advise, and help clients make informed decisions about finances and home purchasing abilities. The best part? It’s all free. There’s no cost to our clients. As a nonprofit Community Development Financial Institution (CDFI), it’s what HomeSight does.

Below, we’ve compiled Pat and Wanda’s general tips and advice for homebuying. It’s a general gameplan that includes their most common FAQs. To make your own, personalized financial plan for the future, make an appointment with Pat or Wanda by creating an account here. Our HUD counselors will help you achieve your goals!

Ready: Take Charge of Your Credit

  • Minimum credit score: Pat and Wanda frequently tell clients to aim for a minimum credit score of 620, as it can significantly improve your chances of qualifying.
  • Manage your credit use: Credit use is a key factor in your credit score. Aim to keep your credit use below 30 percent. This means using less than one-third of your total credit limit. For example, if your credit limit is $10,000, try to keep your balance below $3,000.
  • Clean up your credit report: A clean credit report is crucial. Ensure your credit report is free of collections, charge-offs, or public records like bankruptcy or unpaid taxes. Remove any charge-offs and collections promptly. Also, challenge any errors on your credit report to ensure it accurately reflects your financial situation.

Set: Prepare Financially

  • Keep at it: Improving your credit is an ongoing process that requires diligence and proactive management. Just as you can’t stay in shape by doing one pushup, you must stay vigilant and attentive to your finances and credit.
  • Start saving: When preparing to buy a home, it’s recommended you have enough money on hand for the down payment, plus one percent of the home’s sale price, for inspection and appraisal expenses that may come up. Pat and Wanda can help you determine what you can afford and how much you’ll need to save to reach your goals.

GO: Get started!

  • Plan for graduation: Once you have created your plan and started to reach your essential mile markers, Pat and Wanda will prepare you to graduate into HomeSight’s lending program, which can offer purchase assistance and specialized loans. There’s no cap and gown: just the knowledge and confidence you need to create a secure, financially sound future. To get started with counseling today, by visiting HomeSightWA.org.
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