For many Clark County residents, the cash down payment required to buy a home is a significant barrier to homeownership. We recognize this hurdle and help by partnering with the Washington State Housing Finance Commission (Commission) to offer down payment assistance loans for qualifying homebuyers who use the Commission’s mortgage programs (Home Advantage and House Key).
This program is made available through American Rescue Plan – Coronavirus State and Local Fiscal Recovery Funds.
Is this program right for you? Fill out our quick online form to get started.
Just fill out this quick online form, and a staff member from the Washington State Housing Finance Commission will contact you to help you get started.
Eligible homebuyers work with a lender to get prequalified for a Housing Finance Commission home loan. When you are ready to buy, the lender reserves the downpayment assistance along with the home loan.
- Take a free homebuyer education class. Classes are five hours, offered both in-person and virtually, and teach everything you need to know about buying a home. You can find one here: Virtual classes in Vancouver | In-person classes in Vancouver
- Have a one-on-one pre-purchase counseling session. These sessions are provided by approved housing counselors and give you an in-depth review of your personal financial situation, so that you go into homeownership with the best chance of long-term success.
- Household income under $95,850 (this is 90% of the median income for a family of four in Clark County as of January 2023)
- Haven’t owned a home in the past three years
- Will live in the home as a primary residence (no investment properties)
- Credit score at least 620
The interest rate is 2% simple interest with deferred payment—meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out, or refinance the property.
Ask your lender—or, fill in this quick form with information about your location, household size and income. One of the Commission’s Homeownership staff will reply with recommendations just for you.