Covenant Down Payment Assistance

Covenant Down Payment Assistance是面向Statewide，Washington购房者的延期第二贷款。 The Covenant Down Payment Assistance program is the nation's first state-funded reparative homeownership program, established by Washington's Covenant Homeownership Act (HB 1474, 2023) to remedy the harm of historic racially restrictive covenants. It provides up to 20% of the home purchase price (up to $150,000) as a 0% deferred second mortgage to qualifying first-time homebuyers who can document descent from a Washington resident harmed by racial covenants prior to April 11, 1968. Funded by a document-recording surcharge. Up to $150,000 in down payment assistance for eligible homebuyers descended from individuals harmed by Washington State's historic racially restrictive real estate covenants. Established under Washington's Covenant Homeownership Act (HB 1474, 2023), the program addresses historic race-based housing discrimination by funding down payments for Black/African American buyers (and other eligible groups identified through state research) whose ancestors lived in Washington before April 11, 1968 (the federal Fair Housing Act). Structured as a 0% interest, deferred-payment second mortgage with no monthly payments. due at sale, refinance, or transfer. Funded by a document-recording fee surcharge. 资金来自Washington State document-recording fee surcharge established by Covenant Homeownership Act (HB 1474, 2023); administered by WSHFC。

Covenant Down Payment Assistance为延期还款，在房屋出售、再融资或第一抵押贷款还清之前无需付款。 触发还款的情形：Due upon sale, refinance, transfer of title, or when property is no longer borrower's primary residence。 该援助以2nd Lien顺位留置权登记。 免除和还款条款由项目设定，并可能变化——申请前请在项目官方网页上确认。

Covenant Down Payment Assistance面向首次购房者和将房屋作为主要住所自住的购房者。 此处的“首次”有例外情况：First-time homebuyer required (no ownership interest in principal residence in prior 3 years); buyer or buyer's parent/grandparent must have been a Washington resident on or before April 11, 1968。 关于信用，该项目说明：620 minimum FICO; varies by underlying first mortgage product。 须参加购房者教育课程，由WSHFC-sponsored Commission-Sponsored Homebuyer Education Seminar (5-hour course)提供。 居住要求：Property must be located in Washington State and occupied as primary residence; borrower or lineal ancestor must have been a Washington resident on or before April 11, 1968。 公民身份或移民身份：U.S. citizen or qualified non-citizen per agency loan-product guidelines。 Created by Washington State's Covenant Homeownership Act (HB 1474, signed 2023). Eligibility requires: (1) borrower or borrower's lineal ancestor was a Washington resident on or before April 11, 1968, AND (2) the ancestor was a member of a group historically excluded from homeownership by racially restrictive covenants in Washington (per WSHFC's eligibility methodology, Black/African American applicants meeting the residency tests are the primary qualifying group; other groups identified by the state research study may also qualify). The program is designed to remedy past racial discrimination and is open only to those who can document that their family was harmed by race-based housing exclusion in Washington. Documentation of ancestral residency is required (e.g., census records, deeds, vital records). First-time homebuyer required. WSHFC Commission-Sponsored Homebuyer Education Seminar required. Must be paired with WSHFC Home Advantage first mortgage.

Covenant Down Payment Assistance将家庭收入限制在$188,500。 该限制适用于家庭总收入，而不仅是借款人的收入。 地区收入中位数由HUD公布并每年更新，因此在依据某个数字之前，请查看该县的最新表格。

Covenant Down Payment Assistance的房价上限如下：Subject to Home Advantage program sales price limits by county; no separate Covenant cap。 符合条件的房屋类型包括Single-family detached, townhomes, condos (agency-approved), PUDs。 新建房屋符合条件。 预制房屋符合条件。

Covenant Down Payment Assistance在其服务群体中提到了退伍军人、现役军人、预备役人员和国民警卫队成员、遗属配偶、美洲印第安人和阿拉斯加原住民购房者、教育工作者、执法人员、消防员、医护人员和残障购房者。 在此列出仅表示项目提到了该群体，并不表示仅凭群体身份即可使申请人符合条件——其余资格规则仍然适用。

Covenant Down Payment Assistance服务于在Statewide，Washington购房的购房者。

Covenant Down Payment Assistance的申请通过管理该项目的机构办理，该机构在其网站上公布现行条款和申请步骤。 资金通过Lender reserves via WSHFC's online lender portal alongside Home Advantage first mortgage reservation; eligibility prescreening required预留。 Hey Prescott不是贷款机构，也不受理申请；本页介绍该项目，方便购房者向贷款机构或住房咨询师咨询。