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Information for Single-Family Lending and Real Estate Professionals
Program Announcement
August 31, 2021
NEW 5% Downpayment Assistance Option!
Dear Lending, Real Estate and Non-Profit Partners:
Starting September 1, 2021, the Commission is offering a brand-new option for downpayment assistance. Now, with our Home Advantage FHA 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 FHA Loan with 0% Origination Fee.
Starts September 1, 2021 - with reservations made on or after that date.
Existing reservations may not be changed or re-reserved to the new program.
Cannot be used with the House Key first mortgage.
We're excited to add this new program to your toolkit of great downpayment choices.
Updates to the Home Advantage manual have been posted. The new program will be noted on our rate sheet.
If you have questions, please email Corinna Obar at Corinna.Obar@wshfc.org.