Homeownership center

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- as 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 Customer Portal to begin the approval process:

Loan Products you can receive through homesight

The City of Seattle provides up to $55,000 in Down Payment Assistance. This is a 3% deferred loan for 30 years for borrowers buying within Seattle city limits. HomeSight matches with $25,000 to make a total contribution of $80,000.

King County provides Down Payment Assistance of up to $45,000. This is a 4% deferred loan for 30 years for buyers purchasing in Auburn, Federal Way, Tukwila, and unincorporated areas of King 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. It starts in year 8 and reduces 2% per year until over – anywhere from year 15 to year 22.

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.

The remaining areas of Washington can receive up to $25,000 at 3% deferred for 30 years.

We offer an additional $25,000 on top of other Down Payment Assistance Programs. This is a 3% deferred loan for 30 years to borrowers who are under 60% of the HUD area median income.

ITIN (Individual Taxpayer Identification Number) loans are loans to 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 paperwork to become a legal resident could be in process but not completed yet. The HomeSight program includes borrower’s with limited credit. Borrowers must have 5% down. Rates are 2% above the WSHFC rate.

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.

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 $12,000 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.

Click on the links below to find out about purchase assistance programs available by area.