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House Key Opportunity is a First Mortgage Loan Program offered by the Washington State Housing Financing Commission (WSHFC). This program offers below market interest rates for a select group of first-time home buyers in Washington and is often combined with a second mortgage for down payment assistance.

House Key Opportunity uses proceeds of tax-exempt bonds to help some first-time home buyers benefit from a lower interest rate. If the financed home is sold within nine years of purchase, the benefit may be recaptured via the Federal Recapture Tax.


How to Qualify for House Key Opportunity

  • This loan program is available for qualifying residents in the state of Washington.
  • You must be a first-time home buyer (someone who has not owned/occupied a primary residence in the past three years).
  • If the home was purchased in a Targeted Area, you are not required to be a first-time home buyer.
  • You must meet income and acquisition cost limits* and be purchasing a never-occupied or newly constructed home OR qualify for a down payment assistance program**.
  • Participants must attend a free Home Buyer Education Seminar and receive a certificate of completion.
  • Properties must be inspected, unless a 1-year warranty is provided by the builder.

Additional Resources

WSHFC House Key Opportunity
Home Buyer Education Seminars
Act now! Funding for this program is limited*** and available on a first come, first served basis. These funds are expected to run out quickly and low rates are only available until the reserved funds are gone. Contact one of our Vancouver mortgage bankers today to find out if you may be eligible for the House Key Opportunity loan program.

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*Income limits apply based on the size of the household with the first mortgage. Additional income restrictions may apply with the down payment assisted second mortgage.

**For a full list of qualifying down payment assistance programs, refer to the WSHFC website.

***Funds available beginning June 24, 2015 and expected to run out quickly. Short wait list will be taken once fully reserved. Further fees may apply. Contact Summit Mortgage Corporation for further information.