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Information for Single-Family
Lending and
Real Estate Professionals
Program
Announcement
July 1, 2014
Home Advantage 1% Deferred Option Up to $10,000 Now Available
The Commission is pleased to announce another option in conjunction with a Home Advantage first mortgage as a pilot program.
Dates of Availability
Loan reservations will be accepted for this additional option with Home Advantage beginning 07/01/2014. This downpayment assistance loan must be used in conjunction with a Home Advantage first mortgage. This downpayment assistance option is needs based and offers up to $10,000 in downpayment assistance with a 1% deferred simple interest rate with no monthly payments, subject to availability. Please see the manual on our Website at wshfc.org/sf/downloads.html for complete terms and conditions. Further restrictions apply including lower income limits. Program funds are subject to availability.
Your borrowers can still continue to access Home Advantage downpayment assistance funds up to 4% of the total loan with no assessment of need. If this option does not provide enough in downpayment assistance, you may want to consider our second option which is based on need for all borrowers.
This program cannot be used in conjunction with a House Key first mortgage.
Manual updates have been posted: wshfc.org/sf/downloads.html