Home Advantage Downpayment Assistance (DPA)
Washington State Housing Finance Commission (WSHFC), via HereToHome.org
Amount: A 0% interest, deferred second mortgage equal to 3%, 4%, or 5% of the first mortgage loan amount. No monthly payments; repaid only when the home is sold, refinanced, or the first mortgage is paid off (or at 30 years).
Type: Deferred second mortgage (silent/soft loan), paired with the Home Advantage first-mortgage loan
Statewide household income limit of $215,000 (verified on WSHFC's official FAQ); does NOT require first-time homebuyer status; requires use of a Home Advantage or House Key Opportunity first mortgage; completion of a WSHFC-approved homebuyer education course; WSHFC no longer sets a hard minimum credit score (removed June 2023) but participating lenders generally still look for around 620+ and DTI of 45-50%.
Home Advantage Needs-Based DPA
Washington State Housing Finance Commission (WSHFC)
Amount: Up to $10,000 as a second mortgage at 1% simple interest, deferred with no monthly payments until sale/refinance/payoff.
Type: Deferred second mortgage (low-interest, need-based)
Household income limits of $164,400 (King/Snohomish counties) or $126,800 (other counties); home purchase price capped under $250,000; does not require first-time buyer status; requires WSHFC first mortgage and homebuyer education.
House Key Opportunity DPA
Washington State Housing Finance Commission (WSHFC)
Amount: Up to $15,000 as a second mortgage at 1% simple interest, deferred, no monthly payments.
Type: Deferred second mortgage
Must be a first-time homebuyer OR purchasing in a designated Target Area; income limits vary by county and household size, ranging roughly $67,450-$116,650; requires homebuyer education.
Covenant Homeownership Program
Washington State Housing Finance Commission (WSHFC), created by the WA legislature (RCW 43.181) — currently under a HUD fair-housing investigation opened around March 2026, but confirmed still active and funded as of mid-2026
Amount: 0% interest deferred loan up to 20% of home purchase price, capped at $150,000, usable for down payment and closing costs; can be forgiven after 5 years for households earning under 80% of Area Median Income.
Type: Deferred/forgivable second mortgage, race-conscious reparative program
Household income at or below 120% of county Area Median Income; applicant (or spouse/co-buyer) must be a first-time homebuyer under the Covenant Act's broad definition; applicant or a parent/grandparent must have resided in Washington before 1968 and be Black, Hispanic, Indigenous, Native Hawaiian/Pacific Islander, or another group identified in the state's Covenant Homeownership study (addressing historical racially restrictive housing covenants).