Fairway For

DOWNPAYMENT ASSISTANCE

For many people, the cash downpayment required to buy a home is a significant hurdle.

 

The Washington State Home Finance Commission lowers this barrier by offering downpayment assistance loans for homebuyers who use their mortgage programs.

There are many downpayment assistance programs available, so call or email me today to find out which one you qualify for. 

AVAILABLE PROGRAMS IN WASHINGTON

Up to 4% of the first mortgage total or gross loan amount, for borrowers using our Home Advantage loan or up to 5% using our conventional HFA Preferred or HFA Advantage loan.

HOME ADVANTAGE DPA

NEEDS BASED OPTION

Up to $10,000, for borrowers using our House Key Opportunity loan.

DOWNPAYMENT ASSISTANCE FAQ'S

How can I get this assistance?
Our downpayment assistance is only for homebuyers who use our home loan programs, either Home Advantage or Opportunity. If your household income is under the program limits (up to $145,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible.

 

How much assistance can I get?
It varies by program (see the list above), but $10,000 is the average amount for a typical homebuyer.

 

So, it’s a loan that I pay back?
Yes. The interest rate is very low, from 0% to 4% depending on the program. It is wrapped into your main home mortgage, so you don’t have two bills to pay. Also, most of our downpayment loans are payment deferred—meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out of or refinance the property.

Get In 

CONTACT WITH US

SARAH RILEY

Branch Manager

NMLS #180007

14405 SE 36th St., Suite 300
Bellevue, WA 98006

425.306.0939

rileyhometeam@fairwaymc.com

More Info

THE RILEY

HOME TEAM

Sarah Riley

Branch Manager

NMLS #180007

14405 SE 36th St., Suite 300
Bellevue, WA 98006

425.306.0939

rileyhometeam@fairwaymc.com

YOUR NEW

HOME AWAITS.

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*Pre-approval is based on a preliminary review of credit information provided to Fairway Independent Mortgage Corporation which has not been reviewed by Underwriting. Final loan approval is subject to a full Underwriting review and support documentation including, but not limited to, applicants' creditworthiness, assets, income information, and a satisfactory appraisal.

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Complaints may be directed to (877) 699-0353 or Email us: customerservice@fairwaymc.com

Copyright ©2019 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.

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