Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time home buyers in the form of a low interest loan. This Purchase Assistance can increase your buying power and help you build equity faster through:
■Low down payments (as low as 1%)
■No mortgage insurance payments
■Affordable monthly payments for the life of the loan
To qualify , you must meet (at the minimum) the following requirements:
■Be a first-time home buyer. Definition of a first-time home buyer is someone who has not owned a home in the past three (3) years. There are a few exceptions based on individual circumstances, so please contact HomeSight if you have questions.
■Complete HomeSight’s homebuyer education curriculum and a homebuyer action plan items associated with a HomeSight financial assessment.
■Upon loan approval, purchase a home in target areas within Seattle City limits, selected King County municipalities, or within Snohomish County limits.
Remember, these are the qualifications of the Purchase Assistance. The first mortgage may have different parameters. The more restrictive guidelines will prevail.
■City of Seattle
■South King County
If you have questions about HomeSight’s Purchase Assistance program, sign up for our HomeSight Program Class.