WSHFC | Home Advantage Program

HOMEOWNERSHIP
• Home Advantage
• Opportunity
• MCC Reissuance
• Homebuyer Education
• Premier Lenders
• Downpayment Assistance
• Homeowners Guide
• Counseling Providers 
  

Working Together:

Home Advantage helps qualified households in
Washington State realize the dream of Homeownership!

Home Advantage Rates | House Key Opportunity Rates

Given the fluidity in the markets, we may not be able to offer some rate options every day. See here for further details. Please check the effective date and time on the rate sheet, use Google Chrome, and be sure to refresh your browser as well as clear your cache.

PLEASE NOTE: Effective 5/18/2020 – New credit score requirement for some Home Advantage Gov’t loans. See this program announcement.

NOTICE: Rates subject to change without notice. WSHFC staff will make every
reasonable effort to post daily rates by 9:00am Monday – Friday PST.
Rates posted after 4:00pm PST, over holidays, and weekends are sample
rates from the previous business day and are not to be relied upon for
reservations. Homebuyers interested in applying for financing should
contact one of the Commission’s Participating Lenders. The Commission
does not lend money directly to consumers. Participating Lenders
pre-qualify consumers and originate all mortgage loans. This is not an
advertisement for credit as defined in Regulation Z. Contact a
Commission Participating Lender for Annual Percentage Rate (APR). This
is not a commitment to lend.  Further fees may apply. Contact your
participating loan officer for more information. Interest rate buydowns
are prohibited. Visit heretohome.org for more information.

Click to view the Historical Home Advantage Rates

Fannie Mae “HFA Preferred” and Freddie Mac “HFA Advantage” Pricing Has Changed

Beginning February 12, 2020, Freddie Mac has made changes to HFA Advantage that mirrors the changes Fannie Mae made to HFA Preferred on September 5, 2019. . Pricing benefits are limited to borrowers with incomes at or below 80% AMI. Our rate sheets reflect this change with higher pricing for borrowers above 80% AMI for both Fannie and Freddie. For more details, see our November 21, 2019 Program Announcement.

Click here to see 2020 80% Area-Median Income Limits

Home Advantage Brochure
(PDF) |
Frequently Asked Questions

HOW TO GET STARTED

 Attend
a Free Homebuyer Education Seminar. It will provide you with the steps to buying your first home. You
will receive a certificate upon completion of the class, valid for two years. This
will be a requirement of your loan process.
 Contact
a Commission-Trained Loan Officer.
They can find the right loan type that will work with our programs
to see if you qualify. They
also know the income limits we require. 
 Once
you know how much you qualify for, it is time to look for a home.
Your lender and real estate professional will work with you to
locate and finance a home.

ADDITIONAL HELP WITH HOMEOWNERSHIP

Washington State Dept. of Financial
Institutions protects Washington homeowners and buyers.  Free state
sponsored counseling is available to Washington residents who are facing
foreclosure, thinking of buying a home, or considering refinancing. 
To speak with a counselor, call the Washington Homeownership Information
Hotline at 1.877.894.HOME (1.877.894.4663).

HOME ADVANTAGE FIRST MORTGAGE LOAN

Do you qualify?

If you’ve attended
and obtained a certificate from a Commission-sponsored
homebuyer education seminar within the last
two years;
If you meet the program
income limits listed below; and…
If you meet with a
Commission trained loan officer and determine
that you qualify for a mortgage loan according to FHA, VA, Conventional,
Rural Housing Services (RHS),
Then… you may qualify!

HOME ADVANTAGE PROGRAM PARTICIPATING LENDERS

These Participating Lenders have a proven track record of originating
and closing Home Advantage loans. 

See Premier Participating Loan Officers.

1st Security Bank of Washington Absolute Mortgage Academy Mortgage Alaska USA Mortgage AmCap Mortgage American Pacific Mortgage Axia Home Loans Bank of the Pacific Banner Bank Bay Equity LLC Cardinal Financial Caliber Home Loans Cherry Creek Mortgage Churchill Mortgage Citywide Home Loans CMG Mortgage Commerce Home Mortgage Community First Bank Cornerstone Home Lending CrossCountry Mortgage CStone Mortgage DAS Acquisition DHI Mortgage Diamond Residential Mortgage Directors Mortgage Eagle Home Mortgage Envoy Mortgage Evergreen Home Loans Fairway Independent Mortgage Finance of America First Centennial Mortgage First Continental Mortgage Flagstar Bank Freedom Mortgage Gateway First Bank Guaranteed Rate Geneva Financial Global Credit Union Goldwater Bank Guild Mortgage Heritage Bank HomeBridge Financial Services

HomeSight HomeStreet Bank Integrity Mortgage International City Mortgage Land Home Financial Services Landmark Professional Mortgage LeaderOne Financial LendUS LoanDepot Mann Mortgage Mortgage Master Service Corporation Mortgage Solutions of Colorado Mountain West Bank Movement Mortgage Nations Reliable Lending New American Funding Northpointe Bank Numerica Credit Union On Q Financial Opes Advisors Pacific Residential Mortgage Paramount Residential Mortgage Group Penrith Home Loans Peoples Bank Premier Mortgage Resources Primary Residential Mortgage Prime Lending Priority Home Lending Procura Mortgage Sierra Pacific Mortgage Company Stearns Lending Summit Funding Summit Mortgage Corporation Sunflower Bank Synergy One Lending Top Flite Financial Umpqua Bank US Bank Wallick & Volk Washington Trust Wheatland Bank Willamette Valley Bank

QUESTIONS REGARDING PARTICIPATING LENDERS

The Commission welcomes new participating
lenders into our programs. 
Please contact Corinna Obar at [email protected]
or 206-287-4414.

INCOME LIMITS

Borrowers must not exceed the Maximum Annual Income Limit:  Statewide $145,000

WHEN WILL THESE FUNDS BECOME AVAILABLE?

Funds for the Home Advantage program are continuously available and are
subject to market rates and conditions. If you have questions about the
Home Advantage Program, please call us at 800.767.4663 or email
[email protected] or
[email protected]

WHEN CAN MY LOAN OFFICER LOCK MY RATE?

Your loan officer can lock your rate after you have a fully executed
purchase and sale agreement and after you have taken a Commission sponsored
homebuyer education seminar.  Please check with your lender regarding
locking your loan as loans must be delivered prior to lock expiration and
each lending institution will have their own internal guidelines. 
If a reservation of funds is made before you take a Commission sponsored
homebuyer education seminar, the current reservation will be considered
invalid and will be subject to worst case pricing. No exceptions. 

 

   

 DISCLAIMER: The sponsorship by the Commission of a homebuyer
education seminar does not endorse a person, business practice, product
or service other than those of the Commission.