A first-time buyer’s side-by-side shopping plan
Start with an ordinary purchase estimate and an assistance estimate for the same property and purchase price. Ask the participating lender to explain the first mortgage, any assistance balance, the payment now and the amount that would need to be repaid at a sale or refinance. Do not evaluate assistance using its advertised amount alone.
Keep a short file containing the written program terms, your education status, the lender’s confirmation of participation and a list of remaining conditions. Before making an offer that depends on assistance, ask which items are still unverified and when funding can actually be committed.
Your local city or county may be a useful place to research additional options, but a link to a program is not confirmation that you qualify or that funding remains available. Mortgage Lending Group LLC does not originate WSHFC programs. This information is educational. Use the Commission’s participating-lender resources for WSHFC financing; Enrique can separately help compare other purchase options.
Start with the official program information
Review the Commission’s homebuyer resources and ask a participating lender which options are currently available. Programs can differ in eligibility, funding, homebuyer education, and how assistance is repaid. This guide does not promise funding or a particular assistance amount.
Bring these questions to your loan officer
- Which income definition and household members count for this program?
- Does my property location or purchase price affect eligibility?
- Is homebuyer education required, and when must I complete it?
- Is the assistance a grant, a forgivable loan, or a loan I must repay?
- What happens when I sell, refinance, move out, or pay off the first mortgage?
- What are my combined payment, cash to close, and remaining savings?
Compare the complete financing package
An assistance amount by itself cannot tell you which option is most useful. Compare the first mortgage, any second loan, fees, repayment terms, and the cash you retain after closing. Request the current written program terms before making a decision.
Keep an ordinary purchase scenario alongside the assistance scenario. Seeing both on the same page can help you decide how much a smaller upfront contribution is worth over the period you plan to own the home.
A few common questions
No. Read the specific terms. Ask whether repayment is required, whether interest accrues, and which events can trigger repayment.
No. Your loan officer must confirm the current program rules, availability, lender participation, and your documented circumstances.
YOUR NEXT DECISION
Turn this answer into a plan.
What should I prepare before shopping?
Start with a comfortable payment, cash available after closing and the documents your lender needs. Then connect the loan options to the property you are considering.
Read the original sources
Program rules and lender requirements can change. Confirm current terms before acting.