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Home Advantage Downpayment Assistance

Statewide, Washington

Last verified
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Assistance

4%

Of the purchase price, as the program sets it

Income limit

$215,000

The household income limit the program publishes

Repayment

Deferred

No payments until the home is sold or refinanced

What is Home Advantage Downpayment Assistance?

Home Advantage Downpayment Assistance is a deferred second loan for homebuyers in Statewide, Washington.

  • Home Advantage Downpayment Assistance is WSHFC's flagship statewide DPA program, structured as a 4%-of-first-mortgage 0% deferred second mortgage. It is the most widely used WSHFC DPA option, available to all buyers using a Home Advantage first mortgage with qualifying income up to $215,000. No first-time homebuyer requirement.
  • WSHFC's flagship down payment assistance program. Provides up to 4% of the first mortgage loan amount as a deferred-payment second mortgage at 0% interest. No monthly payments.
  • principal due in full at sale, refinance, transfer, or end of first-mortgage term. Available statewide to buyers using a WSHFC Home Advantage first mortgage. No first-time homebuyer requirement. Income limit of $215,000 (qualifying income, not household income). The most flexible and widely used WSHFC DPA option.
  • Funding comes from WSHFC Home Advantage program (TBA / capital markets execution).

How much assistance does it provide?

Home Advantage Downpayment Assistance provides assistance worth 4% of the purchase price, as set by the program.

  • Buyer contribution: No minimum borrower contribution required by WSHFC; agency overlays apply.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Home Advantage Downpayment Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Due in full at sale, refinance, transfer of title, end of 30-year first-mortgage term, or when property is no longer borrower's primary residence.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Home Advantage Downpayment Assistance is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO (varies by loan product)
  • A completed homebuyer education course, through WSHFC-sponsored Commission-Sponsored Homebuyer Education Seminar (5-hour course, free, online or in-person)
  • Residency: Property must be in Washington State and occupied as primary residence
  • Citizenship or immigration status: U.S. citizen or qualified non-citizen per agency loan-product guidelines
  • Borrower's qualifying income must not exceed $215,000 (effective 2025; updated periodically). No first-time homebuyer requirement. Must complete WSHFC Commission-Sponsored Homebuyer Education Seminar before signing purchase contract. Must use a Home Advantage first mortgage from WSHFC. Property must be in Washington State and occupied as primary residence. Flat statewide income cap; not pegged to AMI.

The program excludes

  • Households above $215,000

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Home Advantage Downpayment Assistance limits household income to $215,000.

  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Home Advantage Downpayment Assistance caps the purchase price as follows: No WSHFC-imposed sales price cap; subject only to FHA/VA/USDA county loan limits or conforming conventional limits.

  • Eligible property types include Single-family detached, townhomes, condos (agency-approved), PUDs and manufactured housing per agency guidelines.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

Home Advantage Downpayment Assistance names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native buyers, educators, law enforcement officers, firefighters, healthcare workers, and buyers with disabilities among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Home Advantage Downpayment Assistance serves buyers purchasing in Statewide, Washington.

How do you apply?

Applications for Home Advantage Downpayment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through WSHFC-sponsored Commission-Sponsored Homebuyer Education Seminar (5-hour course, free, online or in-person).

  2. Contact the administering agency to reserve funds

    Funds are reserved through Lender reserves DPA along with Home Advantage first mortgage rate via WSHFC online lender portal, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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