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Please inquire with a HomeSight representative for current rates and terms. Purchase location and Income guidelines apply. |
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Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time home buyers in the form of a low interest loan. To qualify, you must meet (at the minimum) the following requirements: a) 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. b) Complete HomeSight's homebuyer education curriculum and financial assessment(s). c) Upon loan approval, purchase a home in target areas within Seattle City limits, selected King County municipalities, or within Snohomish County limits.
HomeSight is a HUD certified counseling agency.
After you have completed our introductory class, "The American Dream: Fundamentals of Homeownership, you will have the opportunity to meet with one of our counselors to do a personal Financial Assessment. You can schedule your appointment immediately after class or call HomeSight at (206) 723-4355 to schedule an appointment.
We require all parties purchasing the home attend this meeting, fill out a HomeSight Counseling Application form, and provide the required documents.
At your Assessment, your counselor will order a three-bureau credit report and determine your credit standing. All documents are reviewed, affordability determined, purchase assistance eligibility determined, and home buyer and credit action plans are created (plans vary according to applicant needs). The initial appointment is approximately 1.5 hours, follow-ups may vary. There is a fee for the tri-merge credit report.
Next, your counselor will monitor your monthly progress towards completion of the home buyer action plan. At this time, you will be ready to take the Financial Series.
Children are welcome to attend your counseling sessions. |
