Purchase Assistance
Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time home buyers through low interest loans.
This purchase assistance can increase your buying power and help you build equity faster through:
- Low down payments (as low as 1%), actual figures vary based on specific purchase transactions and details
- Affordable monthly payments for the life of the loan.
Purchase Assistance
Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time home buyers through low interest loans.
This purchase assistance can increase your buying power and help you build equity faster through:
- Low down payments (as low as 1%), actual figures vary based on specific purchase transactions and details
- Affordable monthly payments for the life of the loan.
To qualify, you must meet the following requirements:
- Be a first-time homebuyer – defined as someone who has not owned a home in the past three years.
- Complete HomeSight’s homebuyer education class and financial counseling.
- Upon loan approval by HomeSight, purchase a home in the designated area based on purchase assistance program.
Create a profile in our Homebuyer Portal to begin the approval process:
Loan Products you can receive through homesight
- City Of Seattle: The City of Seattle provides up to $76,000 in Down Payment Assistance. This is a 3% deferred loan for 30 years for borrowers buying within Seattle city limits.
- King County: This loan provides Down Payment Assistance of up to $45,000. This is a 3% deferred loan for 30 years for buyers purchasing in Auburn, Federal Way, Tukwila, and unincorporated areas of King County. Other restrictions apply.
- Snohomish County: Snohomish County provides Down Payment Assistance of up to $50,000. This is a 3% deferred loan for 30 years for borrowers buying within Snohomish County.
- WSHFC Down Payment Assistance: Washington State Housing Finance Commission (WSHFC) provides Down Payment Assistance of $15,000 for eligible borrowers. This is a 1% deferred loan for 30 yrs. WSHFC also provides up to $15,000 for people with disabilities of either the borrower or a member of the household. Special counseling is required for these individuals.
- Statewide:The remaining areas of Washington can receive up to $35,000 at 3% deferred for 30 years.
- Social Justice Down Payment Assistance (BIPOC DPA) – Can be layered with all other DPA programs:HomeSight has been allocated $3 million to use as down payment assistance for Indigenous and BIPOC customers. Loan amounts are $10,000, 0% deferred for 30 years.
- Sam Smith “Hi Neighbor” Homeownership Fund (Specific for African American borrowers only): Recognizing the growing racial inequalities in homeownership and taking a bold step towards a solution, HomeSight created The Sam Smith “Hi Neighbor” Homeownership Fund. This deferred loan product is designed for Black/African American moderate-income borrowers living in Washington State. Eligible borrowers can receive up to $20,000 to use towards their home purchase costs, loans can be combined with other HomeSight purchase assistance programs to help homebuyers successfully purchase their first home. Partnered with Windermere, US Bank, and NAREB.
- VISTA Loans: ITIN (Individual Taxpayer Identification Number) loans are for borrowers who were issued an ITIN number by the IRS as opposed to a social security number. This loan is for alternative credit and ITIN borrowers who are allowed to work and pay taxes. The HomeSight program includes borrowers with limited credit. Borrowers must have 5% down payment. Rates are 2% above the WSHFC rate. *VISTA loan applicant can use any of the DPA programs they can qualify for.
- Sharia Loan compliant for Muslim Borrowers: Please reach out to us for more information on this product
- Community Lift Loan: a new incentive for first-time homebuyers who make 80% of the Area Median Income (AMI), the Community Lift Loan offers a 4.5% interest rate for income-qualified buyers in five Washington counties: Clark, King, Pierce, Snohomish, Spokane, and Yakima.
The Buyer Readiness Fund: offers qualified buyers up to $25,000 to pay down debt so they can purchase a home.
HomeSight Loan Originators Contact Info
Click on the links below to find out about purchase assistance programs available by area.