FIRST TIME HOMEBUYERS THIS ….. THIS ONE’S FOR YOU!

WASHINGTON STATE HOUSING FINANCE COMMISSIONHOMEOWNERSHIP PROGRAMS

The WA State Housing Aurthority has announed it’s new House Key Opportunity program effective August 15, 2012 with interest rates for 1st time homebuyers as follows:

FHA, VA & USDA Rural Development Loans: 2.5% with a 1% Origination fee

Conventional Loans: 2.75% with a 1% Origination fee

The above options are available for a 30-year fixed rate term.

The House Key Opportunity Program is available for a select group of eligible borrowers at the above interest rates when combining with the downpayment assistance programs below on a first come first served basis:

  • Persons using the Commission’s Home Choice Program.
  • Veterans using the Commission’s House Key Veterans Program.
  • School employees using the Commission’s House Key Schools Program.
  • Homebuyers using the Commission’s New Home for You Program.
  • East King County homebuyers using the Commission’s House Key ARCH Program (when available).
  • Purchasers of homes within the city limits of Seattle using the House Key Plus Seattle Program.
  • Purchasers of a Pontedera condominium offered for sale by HomeSight, a nonprofit housing developer serving homebuyers in the Puget Sound Region (down payment assistance up to $10,000 @ a 5% rate amortized over 10 years is available).
  • Purchasers of a property that is foreclosed, in foreclosure or a short sale using the Commission’s down payment assistance (Up to $10,000 with a 3% interest rate and a ten-year loan term is available).

The House Key Opportunity Program is funded with the last remaining tax-exempt mortgage revenue bonds. Because bond funds will be used for this program, all of the House Key IRS guidelines apply. To enroll in a 1st time homebuyer class to take advantage of this great opportunity, give me a call!

 

 www.wshfc.org

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