Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time home buyers in the form of a low interest loan. This purchase assistance can increase your buying power and help you build equity faster through:
- Low down payments (as low as 1%), actual figures vary based on specific purchase transactions and details,
- No mortgage insurance payments, and
- Affordable monthly payments for the life of the loan.
To qualify, you must meet (at minimum) the following requirements:
- Be a first-time homebuyer—except for our Community Recovery Loan—as defined by someone who has not owned a home in the past three (3) years. However, there are a few exceptions based on individual circumstances, so please contact HomeSight if you have questions,
- Complete HomeSight’s homebuyer education class and homebuyer action plan items associated with a HomeSight homebuyer development session (financial counseling), and
- Upon loan approval, purchase a home in target areas within Seattle city limits or in King, Pierce or Snohomish Counties.
Click on the links below to find out about purchase assistance programs available by area. Remember, these are the qualifications of the purchase assistance. The first mortgage may have different parameters. The more restrictive guidelines will prevail.
For a limited time! HomeSight is participating in NeighborhoodLIFT, a national program from Wells Fargo and NeighborWorks® America. It provides eligible home buyers with matching funds up to $7,500 to use toward down payment and closing costs on qualified homes. Interested? Learn more.