Pierce County Down Payment Assistance Up to 6% Borrowers Max $1000 out of pocket

Services for Real Estate Pros with The Legacy Group

Obtaining a Down Payment can be one of the biggest challenges homebuyer's face today.

I've used Pierce County Down Payment Assistance for my clients many times...it's a great program, it's easy to obtain and the Pierce County Employees are awesome to work with.

Here are some of the features of this program.

  • Loan up to 6% of the Sales Price of $362,790
  • 30 Year Deferred Loan w/1% interest rate-NO PAYMENTS
  • 2nd Lien Loan, accrued interest due upon sale of home, or if occupancy changes from Primary Residence
  • Applicant must be under 80% of Hud Median Income per Household size.
  • All gross income from household members over 18 is used to calculate max income (max income can reach as high as $69,900 per year.
  • Buyer must contribute $1000 out of pocket...includes cash to close, lender's fees, earnest money deposits, or other costs associated with purchase of property...(HOME INSPECTION)?
  • Must be First Time Homebuyer as defined by HUD-No ownership in the last 3 years (exceptions for displaced homemakers)
  • Property must be in Pierce County, but outside the City of Tacoma and City of Lakewood limits.
  • Single Family, Condo and Manufactured Homes qualify per Pierce County.

This down payment assistance can be used in conjunction with FHA/VA/Conventional and RHS approved loan. Check with lender on loan program guidelines.

Here is the link to the Pierce County Website. http://www.co.pierce.wa.us/pc/abtus/ourorg/comsvcs/housing/html/1DownPay.htm

 Check it out...awesome program!

Brooke Villano-Escrow Sales Manager

Andover Park Escrow


Comments (1)

Chuck Leighty

Hello Brooke, I think I might have worked with you on a deal when I first started R.E. Did you used to work at Wells Fargo in Puyallup? Anyway, would you be able to give me more info on the Pierce County Down Payment Assistance Program?

Thank you,

Chuck Leighty

John L. Scott PCR


Sep 26, 2009 08:29 AM