First-Time Home Buyer Programs

FHA / VA / USDA

If you're a homebuyer seeking a low-to-no down payment option, it's time to explore government-backed mortgage programs. These products are designed for low-to-moderate income borrowers and offer more flexible qualifying requirements.

• FHA: As low as 3.5% down
• VA: 0% down for eligible veterans
• USDA: 0% down in eligible rural areas

$3K Down Loan Program

A community-focused mortgage that can help more urban homebuyers achieve the dream of owning a home in a specific community. Explore unique loan programs designed for their neighborhoods with reduced down payment contribution required.

• Only $3,000 down payment required

State Agency Programs

Each state offers programs through their housing finance agencies that can help families increase their home purchasing power with down payment assistance, favorable interest rates, and tax credits to make monthly payments more affordable.

$1K Down DPA Program

A conventional loan program for first-generation homebuyers — covers 3% down payment and closing costs. You only need $1,000 out of pocket to get started. The assistance is recorded as a silent 2nd lien, payable when you sell — and fully forgiven after 15 years.

• Only $1,000 out of pocket
• All borrowers must be first-time, first-generation buyers
• 620+ credit score (700+ recommended)
• Refinance without repayment
• 2nd lien fully forgiven after 15 years
• Status: SSN only

ITIN Program

A special conventional loan program designed for buyers who qualify with ITIN or Social Security number. Get into a home with just 3% down and no private mortgage insurance (PMI).

• No PMI
• 3% down payment
• Conventional loan
• 660 credit score required
• Status: ITIN, SSN, DACA, or Work Permit accepted

ITIN Program #2

A home loan for buyers using an ITIN. You can buy up to 10 houses with this program. ITIN and SSN may be combined on the application. No mortgage insurance required.

• Buy up to 10 houses
• Minimum 5% down payment
• 660+ credit score required
• No mortgage insurance required
• 2 most recent tax returns filed with ITIN
• W-2s and 2 most recent pay stubs required
• Status: ITIN and SSN accepted

100% First-Time Buyer

100% loan-to-value financing for first-time homebuyers with 30- and 40-year term options. Only $1,000 down required and no mortgage insurance — making homeownership more accessible than ever.

• 100% loan-to-value financing
• Only $1,000 down payment
• No mortgage insurance required
• 660+ credit score required
• Owner-occupied primary residence only
• 30- and 40-year term options

Covenant Homeownership Program

A Washington State program providing down payment and closing cost assistance for first-time homebuyers. Created by the Legislature in 2023 to address historical housing discrimination, it offers financial support to eligible families with ties to Washington before 1968.

• First-time homebuyer (no home owned in past 3 years)
• You or a parent/grandparent/great-grandparent lived in WA before April 1968
• Income at or below 120% of Area Median Income
• Existing home purchase only (no new construction)
• Works with FHA, VA, USDA, HUD 184, or conventional loans
• Free homebuyer education class required
• Can be combined with other assistance programs

Documentation of residency and race/ethnicity of the person who lived in Washington before April 1968 is required. Housing counselors, Commission staff, and program partners are committed to helping homebuyers gather this documentation.

KCHA's Keys Program

KCHA's Dreams to Keys program helps current Public Housing or Housing Choice Voucher (HCV) tenants use their voucher toward a mortgage payment instead of rent — building equity while keeping payments affordable.

• Must be a first-time homebuyer
• Good standing with KCHA for 12+ months
• Only 3% down payment required
• Must complete HUD-certified homebuyer counseling
• Continuous employment for 12 months (or SSI if senior/disabled)

Bank Statement Loan

Designed for self-employed borrowers, business owners, freelancers, gig workers, and 1099 contractors. Instead of W-2s and tax returns, lenders use 12–24 months of bank statements to calculate qualifying income based on your actual cash flow.

• 2+ years self-employed
• 12–24 months of bank statements
• Minimum 620 credit score
• 10–25% down payment
• ITIN holders welcome — no SSN required