Down Payment Assistance Programs

First-time buyer programs offer financial assistance to qualified borrowers who may need some creative solutions to get into their first home. These programs offer financial assistance to qualified borrowers with:

 

  • Down payment assistance
  • Grants to help with closing costs, down payments, or home improvements
  • Subsidized interest costs
  • Reduced lender’s fees eligibility depending on loan program

 

Required Down payment from the borrower = Zero (0)

 

Eligible Borrowers = Primary Home Purchase only (meaning you have to live there)  but it doesn’t have to be your first home purchase in some cases

 

Income Qualifications = Some programs have income limits.  For example. A married couple can not make more than a combined $97,000 if they want to do the Washington State Bond Program.

 

What does it cost a borrower to purchase a home? Zero (0) in some cases.  In other cases the borrower may have a zero down payment but need to come up with the closing costs.

The down payment assistance programs can be used for 2 key areas depending on your need:  #1. Down payment   #2. Closing Costs and Pre-Paids (taxes and insurance)

 

Call TILA Mortgage today at (206) 766-8888 or fill out our FREE CONSULTATION form to connect with one of our experienced loan officers.  They will talk with you about whether this type of program is something you qualify for and would be a good fit.

 

(206) 766-8888

info@tilamortgage.com

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