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Down Payment Assistance
The Down Payment Assistance Program makes funding available to assist lower-income households that qualify for a mortgage but lack resources for their down payment.

The program provides loans of up to 3.5% of the sale price on FHA insured loans and up to 5% of the sale price on conventional loans for down payment or loan closing costs. The 30-year deferred loan has a 0% interest rate and is placed as a second subordinate lien on the property. No monthly payments are required, but the loan is due if the homeowner sells the home or does not occupy it at as their principal residence.


To be eligible: 
  • You must meet HUD’s Income Guidelines
  • The sales price of the home cannot exceed $213,750 for existing housing or $265,990 for new construction 
  • The property must be in Pierce County, but outside the city limits of Tacoma, Lakewood and Bonney Lake 
  • Applicants must work with local lenders to obtain an FHA or conventional first mortgage 
  • The home must pass a Federal Housing Quality Standards (HQS) inspection

Contacts
Shannon Shuman
Ph: (253) 798-6905

Laura Charbonneau
Ph:  (253) 798-4344

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