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Information for Single-Family
Lending and
Real Estate Professionals
Program Announcement
February 28, 2018
New 5% Downpayment Assistance Option
Starting March 1, 2018, the Commission is offering a brand-new option for downpayment assistance. Now, with our Home Advantage Conventional loan, homebuyers can get downpayment assistance funds of up to 5% of the first-mortgage loan amount—with no assessment of need.
That means you now have three options for Home Advantage downpayment assistance: 5% of the loan, 4% of the loan, or Home Advantage Needs-Based option (for those under certain income limits).
Details:
Only available with Home Advantage Conventional HFA Preferred Loan with 0% Origination Fee.
Cannot be used in combination with a House Key first mortgage.
Starts March 1, 2018—only loans reserved on or after that date.
Existing reservations may not be changed or re-reserved to the new program.
We're excited to add this new program to your toolkit of great downpayment choices!
Program manual updates have been posted. If you have questions,
please contact Corinna Obar at
corinna.obar@wshfc.org