2.5% ~ 30 YEAR FIXED WITH 1% ORIGINATION AND NO POINTS FOR FHA, VA AND USDA*
2.75% ~ SAME FOR CONVENTIONAL*
*RATES POSTED ON 8/15/12 BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION.
1) Borrower’s must attend a first time homebuyer’s seminar
2) Must be a first time Homebuyer, which is defined as someone who has not owned a home in the past 3 years or if you purchase in a targeted area you do not have to be a first time homebuyer.
3) Income limits apply but are very generous in limits.
ZERO DOWN OPTIONS AVAILABLE AS WELL ~
1) Short sales and Foreclosed properties up to 10k with 3% rate for 10 years.
2) New Home for You Program – New constuction only!! Up to 10k, 3% rate and 10 year term. (680 credit score)
3) House Key Schools – teachers and employees of community or tech colleges and K12 Public or private schools that are accredited or recognized by the State of WA. Up to 10k, 3% for 10 years.
4) House Key Vets – for Veterans who served our country. Up to 10k, 3% rate and 10 year term.
5) House Key Seattle – for people living within the city limits of Seattle. Up to $45k with payments deferred for 30 years at 3% simple interest. There is a shared appreciation required for the first 9 years. (home must not have been occupied by a tenant within 90 days of the purchase and sales agreement.
6) Homechoice Second Mortgage – for borrowers who have a disability or how have a family member with a disability living with them. Up to $15k, 1% interest, payment deferred and is due when home is sold, refinanced or after 30 years.
