First-time home buyer programs in Washington: where to look

The state programs

The Washington State Housing Finance Commission runs these through lenders it has approved. The Commission’s own pages are the place for current details:

• Home Advantage and House Key Opportunity: the Commission’s two home loan programs. Homebuyer overview
• Down payment assistance: the Commission says each of its loans comes with it. Down payment assistance
• Covenant Homeownership Program: a separate state program with its own eligibility. Covenant Homeownership Program

Start with the free class

The Commission sponsors free homebuyer education classes, in person and online. Taking one early costs nothing and answers a lot of first questions. If you use one of the Commission’s programs, ask your lender whether the class is required for it.

Other help people overlook

• VA loans for eligible service members, veterans and some surviving spouses. See how VA home loans work.
• USDA loans for homes in eligible rural areas, which includes parts of Spokane County outside the cities. Eligibility depends on the address.
• Seller help with closing costs, which is negotiated in your offer.

What “first-time buyer” means

It does not always mean you have never owned a home. Some programs count you as a first-time buyer if you have not owned for a set period. Ask before you rule yourself out.

Questions to ask any lender

• Which assistance programs do you offer, and which could I qualify for?
• Does the assistance have to be repaid, and when?
• How does it change my rate, my payment and my cash to close?
• Is a homebuyer class required, and which one?
• Does it limit which homes or areas I can buy in?

Where I come in

Tell me your income, your savings and where you want to live, and I will tell you which kinds of help are worth pursuing for you and which are not. If a program you want is one I do not offer, I will say so and point you to the Commission’s Find a Lender page. And if you are still saving, the Down Payment Playbook is free.

General information, not a commitment to lend. Program rules, limits and availability change; the program’s own page and your lender confirm what applies to you.