In the wake of the recent lending crisis the Washington State is pushing to revive a first time home buyer program that has not been publicized to greatly, House Key State Bond. House Key State Bond is a first time homebuyer program that focuses on educating the potential mortgagee in order for the potential mortgagee to qualify for government subsidies to be used to buy down mortgage points. This is excellent news for Washington residents that are looking to purchase their first home.

House Key State Bond has some requirements as well as restrictions.

1. Homebuyers must attend a free homebuyer education seminar, more.
2. Homebuyers can get receive downpayment assistance, more.
3. Homebuyers must stay within a maximum acquisition cost limit, more.
4. Homebuyers maybe subjected to a recapture tax, more.
5. What are the targeted areas for acquisition cost limits, more.

Why should first time homebuyers choose House Key State Bond over another financing option? House Key State Bond is specifically designed for the first time home buyer. First time homebuyers, on average, have more difficulty qualifying for low interest rates than the move-up buyer or investment homebuyer.

Another reason for first time homebuyers to choose House Key State Bond is the security in the loaned funds. Washington State sells tax-exempt bonds to fun the House Key State Bond program and sales are scheduled to overlap so there is no gap in the funding process. This provides Washington residents with security in the funds.

Click on the links below to learn more about House Key State Bond Programs

Homebuyer Education Seminar - Downpayment Assistance - Targeted Areas - Acquisition Limits - Federal Recapture Tax