The ARCH East King County Downpayment Assistance Loan Program helps qualified borrowers purchasing a home or condominium within an ARCH member city. It provides up to $30,000 in down payment assistance at 4 percent simple interest. 

FHA Mortgage Loan Rates

January 23, 2018
FHA Rates for January 23, 2018
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
FHA.com is a private company, is not a government agency, and does not make loans.

ARCH East King County Downpayment Assistance Loan

Financial Assistance for Homebuyers in Washington

The ARCH East King County Downpayment Assistance Loan Program combines with the Home Advantage first mortgage loan program to help qualified borrowers purchasing a home or condominium within an ARCH member city. It provides up to $30,000 in down payment assistance at 4 percent simple interest. The borrower’s down payment requirement is 2 percent of the purchase price. Up to ½ of the 2 percent can be from gift funds.

There are no monthly payments for this loan, and the balance is due in the following circumstances:
  • The borrower sells the home.
  • The borrower refinances the home.
  • The home is transferred.
  • The borrower fails to maintain the property as principal place of residence.
  • When the home is paid off (on or before 30 years).
Eligibility Requirements
  • Applicants do not need to be first-time homebuyers.
  • The home being purchased must be the principal residence and owner-occupied.
  • Due to federal guidelines, the home must not have been occupied by a tenant within 90 days of the purchase and sale agreement.
  • Borrowers must attend and complete a free Homebuyer Education Seminar sponsored by the Washington State Housing Finance Commission.
  • Borrowers must also attend a free one-on-one, pre-purchase counseling session. Online Homebuyer Education will not meet the seminar requirement for this program.
Income Limits
1 person household: $48,550
2 person household: $55,450
3 person household: $62,400
4 person household: $69,300
5 person household: $74,850
6 person household: $80,400
7 person household: $85,950
8 person household: $90,300

The purchase price limit for new and existing constructions is $354,000.

Note: these figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.

Eligible Cities
Beaux Arts Village, Bellevue, Bothell, Clyde Hill, Hunts Point, Issaquah, Kenmore, Kirkland, Medina, Mercer Island, Newcastle, Redmond, Sammamish, Woodinville and Yarrow Point.

Down Payment Grants in Washington

The ARCH East King County Downpayment Assistance Loan Program helps qualified borrowers purchasing a home or condominium within an ARCH member city. It provides up to $30,000 in down payment assistance at 4 percent simple interest. 

The Washington State Housing Finance Commission offers residents of Bellingham the Bellingham Downpayment Assistance program with up to $40,000 in down payment and closing cost assistance. Payment can be deferred for 30 years at 3% simple interest.

The Washington State Housing Finance Commission offer homebuyers the Home Advantage Down Payment Assistance Loan Program, a second mortgage with a zero percent interest rate and payment deferred for 30 years that combines with the Home Advantage first mortgage.

HomeChoice is a down payment assistance program offered by the Washington Housing and Finance Commission. It combines with the House Key and Home Advantage first mortgage loan programs. 

The Washington State Housing Finance Commission's House Key Veterans program offers down payment assistance in the form of a second mortgage loan to Washington State veterans who have served our country.

The Washington State Housing Finance Commission offers a down payment assistance program called Opportunity, a second mortgage loan program with a 1 percent interest rate, with the payment deferred for 30 years. 

This program is for qualified borrowers purchasing within the Pierce County limits, outside of the Tacoma, Lakewood, Bonney Lake, Auburn, and Pacific city limits. The loan amount goes up to $24,900, with payments deferred for 30 years, at 4 percent simple interest.

Under this program, qualified borrowers purchasing within the city limits of Seattle are allowed up to $45,000 in assistance with payments deferred for 30 years, at 3 percent simple interest. Funds may be used for down payment and closing costs.

Qualified borrowers within Tacoma city limits are allowed up to $20,000 in down payment and closing cost assistance with payments deferred for 30 years, at 4 percent simple interest. The borrower’s minimum down payment requirement is $500.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!