HomeChoice Downpayment Assistance Loan System

HomeChoice Downpayment Assistance Loan System

HomeChoice is a downpayment help, 2nd home mortgage system for qualified borrowers who possess a impairment or that have a relative having a impairment managing them. Funds as much as $15,000. HomeChoice combines with House Key and Residence Advantage very first home mortgage programs. One-on-one guidance is necessary.

STARTING OUT

The first rung on the ladder is to fulfill with HomeChoice Lender in your town which has been trained from the HomeChoice program. The HomeChoice Lender should determine then refer you to a freeHomebuyer Education Seminar and a HomeChoice trained Service Provider if you are eligible for the HomeChoice second mortgage program and will. For extra trained lenders or providers, please emailDietrich. Schmitz@wshfc.org or call 206-464-7139 or 800-767-4663.

PROGRAM DESCRIPTION

The HomeChoice 2nd Mortgage system is a Downpayment Assistance Program for low- to-moderate earnings people who have a impairment or who possess a relative having an impairment coping with them and be eligible for Home Advantage very first home loan system. A 1.00per cent rate of interest regarding the Downpayment Assistance loan system for first-time homebuyers (borrowers who possessn’t owned and occupied their main residence when you look at the previous 36 months). In the event that you purchase in a targeted area you don’t have to be always a first-time homebuyer.

MAXIMUM MONEY LIMITS at the time of 5/6/2019*

All The Counties $86,300

* Other demands may use. Please consult your service or lender provider to validate the limitations. HomeChoice borrowers also must complete a homebuyer that is commission-sponsored seminar just before booking of funds.

ADVANTAGES

This program offers as much as $15,000 per home in a 1.00per cent interest, re re payment deferred mortgage that is second. 2nd mortgages are due whenever house comes, or if perhaps house is refinanced or after three decades. Read more