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Veterans Downpayment Assistance Loan Program

Washington

Available Assistance

The Veterans Downpayment Assistance Loan Program combines with the Home Advantage first mortgage loan program to offer down payment assistance in the form a second mortgage with a 3 percent interest rate and a ten-year loan term. Eligible households may qualify for a maximum loan amount of up to $10,000.

Eligibility Requirements

The Veterans Downpayment Assistance Loan Program is available to (1.)any person who has received an honorable discharge or a discharge for medical reasons with an honorable record, (2.) members and honorably discharged former members of the Washington National Guard and Reserve, and (3.) never remarried spouses and dependent children of deceased Veterans.All borrowers must be first-time homebuyers or buying in a targeted area* and must qualify for the Home Advantage Program first mortgage. They are also required to attend a commission-sponsored homebuyer seminar prior to reserving funds

Property Guidelines

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