I have the privilege at the moment of working with a wonderful young couple buying their very first home. They've done everything right. Saved up some money, paid down their debt, learned about houses, and understand that one's first house can't be a mansion on a hill.
In combination with FHA, the City of Tacoma has a downpayment assistance program that, at the moment, provides up to 6% of the purchase price for use with down payments and closing costs. In addition, Washington State also provides a method for interest rates to be bought down at minimal cost, helping keep house payments within reach. My young clients were able to lock in their rate at 5.75% fixed for 30 years. They're thrilled to death! And I'm so excited for them.!
For more information about each of these programs, visit:
Tacoma Down Payment Assistance Program:
http://www.cityoftacoma.org/Page.aspx?hid=1073
Washington State Housing Finance Commission HouseKey program:
http://www.wshfc.org/buyers/index.htm
Your Dedicated Realtor & Active Rain Blogger, working the Auburn, Kent, Renton, Maple Valley, Federal Way, Covington, Puyallup, Sumner, Bonney Lake, Lake Tapps, and north/northeast Tacoma areas.
