Home Opportunity Down Payment Assistance

What is the best thing about Home Opportunity down payment assistance?  The interest rate!  The interest rates for Home Opportunity are approximately 1% lower than other 30 year fixed loan programs.  So if rates stay in the 3.5-4% range, this down payment assistance program would offer a rate around 2.5-3%.  This is PHENOMENAL!

Are these rates better than other down payment assistance programs?  Definitely.  Previous programs offered through Washington State were generally 1% HIGHER than “market” rates.  With Home Opportunity being 1% LOWER than “market” rate, this puts them close to 2% lower in interest rate than previous programs!  On a $250,000 purchase, this would save you about $270 a month!

How much down payment assistance can I qualify for?  With Home Opportunity, there are 6 different down payment assistance structures available.  Of those structures, there are down payment assistance options allowing for up to $45,000 of assistance for first time home buyers.

Do I have to pay the money back?  Yes.  As with most down payment assistance programs for first time home buyers, the funds would have to be paid back eventually.  In some cases the money would be paid back with a monthly payment over a ten year period.  In other cases the money would not need to be paid back until you no longer live in the home or you pay off your mortgage completely.

How do I know if I qualify for Home Opportunity?  If you would like to learn more about the program and the criteria you have to meet, please go to our Calendar/Reservations page and sign up for one of our FREE First Time Home Buyer workshops.  Upon completion of our workshop you will receive a certificate issued by Washington State good for two years, that will give you access to state programs if you meet other income limitations, etc.  Don’t miss out on this phenomenal opportunity!!!


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