HOMEOWNERSHIP
• Covenant Homeownership Program
• Home Advantage
• Opportunity
• MCC Reissuance
• Homebuyer Education
• Premier Lenders
• Downpayment Assistance
• Homeowners Guide
• Counseling Providers
Working Together:
Home Advantage helps qualified households in
Washington State realize the dream of Homeownership!
Home Advantage Program
Got questions? Need help selecting a program? Having trouble completing a reservation?
We’re here to help with all of that and more! For a quick response please email us at info@heretohome.org or call 1-800-767-4663 and ask to speak with a Program Compliance Administrator in the Homeownership Division.
Home Advantage Rates | House Key Opportunity Rates
Given the fluidity in the markets we may not be able to offer some rate options every day.
Please check the effective date and time on the rate sheet, use Google Chrome, and be sure to refresh your browser as well as clear your cache.
Click to view the Permanent Rate Buydown Request form for Home Advantage
NOTICE: Rates subject to change without notice. WSHFC staff will make every
reasonable effort to post daily rates by 9:00am Monday - Friday PST.
Rates posted after 4:00pm PST, over holidays, and weekends are sample
rates from the previous business day and are not to be relied upon for
reservations. Homebuyers interested in applying for financing should
contact one of the Commission's Participating Lenders. The Commission
does not lend money directly to consumers. Participating Lenders
pre-qualify consumers and originate all mortgage loans. This is not an
advertisement for credit as defined in Regulation Z. Contact a
Commission Participating Lender for Annual Percentage Rate (APR). This
is not a commitment to lend. Further fees may apply. Contact your
participating loan officer for more information. Interest rate buydowns
are prohibited. Visit heretohome.org for more information.
Click to view the Historical Home Advantage Rates
Fannie Mae “HFA Preferred” and Freddie Mac “HFA Advantage” Pricing Has Changed
Beginning February 12, 2020, Freddie Mac has made changes to HFA Advantage that mirrors the changes Fannie Mae made to HFA Preferred on September 5, 2019. . Pricing benefits are limited to borrowers with incomes at or below 80% AMI. Our rate sheets reflect this change with higher pricing for borrowers above 80% AMI for both Fannie and Freddie. For more details, see our November 21, 2019 Program Announcement.
Click here to see 2023 80% AMI Limits - Conventional Loans
Home Advantage Brochure (PDF) | Frequently Asked Questions
HOW TO GET STARTED
Attend
a Free Homebuyer Education Seminar. It will provide you with the steps to buying your first home. You
will receive a certificate upon completion of the class, valid for two years. This
will be a requirement of your loan process.
Contact
a Commission-Trained Loan Officer.
They can find the right loan type that will work with our programs
to see if you qualify. They
also know the income limits we require.
Once
you know how much you qualify for, it is time to look for a home.
Your lender and real estate professional will work with you to
locate and finance a home.
ADDITIONAL HELP WITH HOMEOWNERSHIP
Washington State Dept. of Financial Institutions protects Washington homeowners and buyers. Free state sponsored counseling is available to Washington residents who are facing foreclosure, thinking of buying a home, or considering refinancing. To speak with a counselor, call the Washington Homeownership Information Hotline at 1.877.894.HOME (1.877.894.4663).
HOME ADVANTAGE FIRST MORTGAGE LOAN
Do you qualify?
If you've attended
and obtained a certificate from a Commission-sponsored
homebuyer education seminar within the last
two years;
If you meet the program
income limits listed below; and...
If you meet with a
Commission trained loan officer and determine
that you qualify for a mortgage loan according to FHA, VA, Conventional,
Rural Housing Services (RHS),
Then... you may qualify!
HOME ADVANTAGE PROGRAM PARTICIPATING LENDERS
These Participating Lenders have a proven track record of originating
and closing Home Advantage loans.
See Premier Participating Loan Officers.
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1st Security Bank of Washington American Pacific Mortgage Axia Home Loans Banner Bank Bay Equity LLC Canopy Mortgage Cardinal Financial Churchill Mortgage CMG Mortgage Community First Mortgage Cornerstone Home Lending CrossCountry Mortgage DAS Acquisition DHI Mortgage Diamond Residential Mortgage Directors Mortgage Envoy Mortgage Everett Financial Evergreen Home Loans Fairway Independent Mortgage Guaranteed Rate Global Federal Credit Union Guild Mortgage Highlands Residential Mortgage HomeBridge Financial Services HomeSight HomeStreet Bank International City Mortgage Ixonia Bank LeaderOne Financial |
LoanDepot Lower LLC Luminate Home Loans Mann Mortgage MLD Mortgage Movement Mortgage Mutual of Omaha Mortgage New American Funding NewRez NFM Lending Northpointe Bank Nova Financial On Q Financial Paramount Residential Mortgage Group Premier Lending Premier Mortgage Resources Primary Residential Mortgage Prime Lending Priority Home Lending Revolution Mortgage Summit Funding Summit Mortgage Sunflower Bank Synergy One Lending T2 Financial Umpqua Bank US Bank Wallick & Volk Wheatland Bank Willamette Valley Bank |
QUESTIONS REGARDING PARTICIPATING LENDERS
The Commission welcomes new participating
lenders into our programs.
Please contact Corinna Obar at corinna.obar@wshfc.org
or 206-287-4414.
INCOME LIMITS
Borrowers must not exceed the Maximum Annual Income Limit: Statewide $180,000
WHEN WILL THESE FUNDS BECOME AVAILABLE?
Funds for the Home Advantage program are continuously available and are subject to market rates and conditions. If you have questions about the Home Advantage Program, please call us at 800.767.4663 or email info@heretohome.org or Corinna.Obar@wshfc.org.
WHEN CAN MY LOAN OFFICER LOCK MY RATE?
Your loan officer can lock your rate after you have a fully executed purchase and sale agreement and after you have taken a Commission sponsored homebuyer education seminar. Please check with your lender regarding locking your loan as loans must be delivered prior to lock expiration and each lending institution will have their own internal guidelines. If a reservation of funds is made before you take a Commission sponsored homebuyer education seminar, the current reservation will be considered invalid and will be subject to worst case pricing. No exceptions.
Disclaimer: The Commission does not endorse a person, business practice, product or service other than those of the Commission.