Some day it seems I’m the only one talking about zero down loan that’s not a VA (Veteran Affairs) loan. In the state of Washington we have some great programs to help first time home buyers buy their first home. The Washington State Housing Finance Commission not only offers the zero down USDA loan but also offers down payment assistance. http://wshfc.org/index.htm For many people, the cash downpayment required to buy a home is a significant hurdle. We lower this barrier by offering downpayment assistance loans for homebuyers who use WA mortgage programs (Home Advantage andHouse Key).
How can I get this assistance?
The downpayment assistance is only for homebuyers who use the WA home loan programs, either Home Advantage or Opportunity. If your household income is under the program limits (up to $97,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible.
Step #1- take a Home buying seminar from a realtor like me. A realtor that has gone through the state’s special training.
Step #2 sit down with a Commission trained mortgage lender to discuss your finances, credit and how much you can afford.
Step #3 GO HOUSE SHOPPING!!
And when working with the Housing Finance Commission you might be eligible for a lower mortgage interest rate. http://wshfc.org/buyers/homeadvantage.htm