Tacoma
Tacoma’s Down Payment Assistance Program
Beginning February 1, 2013, the City of Tacoma is offering a down payment assistance (DPA) to eligible, first time homebuyers purchasing either (1) a foreclosed vacant single family home or (2) a vacant or owner-occupied single family home through a short sale transaction; the home must be located in one of three targeted areas: Hilltop, Eastside and South Tacoma. The homebuyer must occupy the home as their primary residence throughout the life of the loan.
Maximum Qualifying Income
Maximum Loan Amount
Household Size
120% of Area Median Income (AMI)
1
$59,040
2
67,440
3
75,840
4
84,240
5
91,080
6
97,800
7
104,520
8
111,240
The maximum amount of assistance for:
Incomes up to 80% AMI $20,000
Incomes up to 100% AMI $15,000
Incomes up to 120% AMI $10,000
The borrower must meet a minimum contribution and have no more than 6 months of payment reserves in liquid assets at the time of purchase.
We require 10 business days to process a DPA application from the receipt of all required documentation. You must download the Program Guidelines in order to access some of the required forms. Incomplete applications will not be processed until all required documents are received.
Please read the Program Guidelines carefully. If you have additional questions, contact Gary Tiedeman at (253) 591-5219 or via e-mail at: gtiedema@cityoftacoma.org.
