Affordable Housing in Washington was dealt a serious blow this week when the Washington State Housing Finance Commission (WSHFC) issued a statement announcing the restriction of funds for their popular House Key program. We have put a lot of first-timers into homes in recent years with this great program, but apparently some other state agencies have used up all the available bond money for other programs.
According to the announcement there is some hope that the full funding may return in the fall. We sure hope so. In the meantime, they have lowered the income limits on who can qualify to 80% of the Counties median income.
One positive and timely note, I understand the US Senate is going to try to push through a bill next week expanding FHA paramaters to allow for 100% financing, that would sure help.
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