Tacoma Down Payment Assistance

Here at PrimeLending we pride ourselves on offering Mortgages Without Obstacles and that is why we work so hard to find programs that help local families accomplish their dream of owning a home.  Our wide selection of products allows us to custom fit the perfect mortgage for you and your families needs.

The City Of Tacoma offers a Down Payment Assistance program to help first time buyers* obtain the funds to purchase that first home. Through this program potential buyers who are able to qualify for traditional FHA financing but can not come up with the 3.5% down payment are provided financial assistance funded by the City Of Tacoma to be used for their down payment.  It is important to note that the home must be located within eligible areas of the city.  To learn more about what areas are eligible Contact Me today.

The City Of Tacoma makes available a loan in the amount of 3.5% of the sales price** to be used towards the down payment and/or closing costs in a purchase transaction. The loan is at a term of 30 years and a rate of 0%!  No payment are required unless the home is sold or the homeowner no longer occupies the home as a primary residence. 

Buyers must be able to qualify for a traditional FHA loan and meet HUD's Income Guidelines to qualify. Contact me today to get pre-qualified to purchase your new home!

You may find more information by following the link below.

http://www.cityoftacoma.org 

* A first time homebuyer as defined by HUD-FHA which is not having owned a home in the last 3 years.

** The program provides a loan up to 3.5% of the sales price for down payment or loan closing costs on a home valued at 362,790 or less.

*** The buyer must contribute at least $1,000 towards the purchase to qualify.