HomeChoice Downpayment Assistance Loan System

HomeChoice Downpayment Assistance Loan System

HomeChoice is a downpayment support, second home mortgage program for qualified borrowers who possess an impairment or that have a relative having a disability coping with them. Funds as much as $15,000. HomeChoice combines with House Key and Residence Advantage first home loan programs. One-on-one guidance is needed.

STARTING OUT

The first faltering step is to fulfill with HomeChoice Lender in your area that is trained regarding the HomeChoice system. The HomeChoice Lender will figure out then refer you to a freeHomebuyer Education Seminar and a HomeChoice trained Service Provider if you are eligible for the HomeChoice second mortgage program and will. For additional trained lenders or providers, please emailDietrich. Schmitz@wshfc.org or call 206-464-7139 or 800-767-4663.

SYSTEM DESCRIPTION

The HomeChoice 2nd Mortgage system is just a Downpayment Assistance Program for low- to-moderate income individuals with a impairment or that have a relative by having a disability coping with them and be eligible for a Home Advantage very first home loan system. A 1.00per cent rate of interest from the Downpayment Assistance loan system for first-time homebuyers (borrowers who possessn’t owned and occupied their primary residence into the previous 36 months). In the event that you purchase in a targeted area there is no need to become a first-time homebuyer.

MAXIMUM INCOME LIMITS at the time of 5/6/2019*

Other Counties $86,300

* Other demands may use. Please consult with your service or lender provider to validate the restrictions. HomeChoice borrowers additionally must finish A commission-sponsored homebuyer education seminar ahead of booking of funds.

ADVANTAGES

This system offers up to $15,000 per home in a 1.00per cent interest, re re re payment deferred mortgage that is second. 2nd mortgages are due whenever house comes, or if house is refinanced or after three decades. Continue reading “HomeChoice Downpayment Assistance Loan System”