Homebuyer Down Payment Assistance Program

Program Information:

The Down Payment Assistance Program is a second mortgage loan of up to $24,900 to cover the cost of a down payment and/or closing costs on the purchase of a home within Pierce County, excluding the city limits of Tacoma, Lakewood and Bonney Lake.

The program is administered by the Washington State Housing Finance Commission and combines with the Housing Finance Commission's Home Advantage or House Key first mortgage loan program. There are no monthly payments on the down payment assistance loan. The term of the loan is 30 years at 4% interest and the balance is due and payable at the end of the 30th year or when you:
  • Sell or transfer title of the home; or
  • Fail to maintain status as a principal place of residence.

Program Eligibility:

To be eligible for the Down Payment Assistance Program, you must be a first-time homebuyer, defined as not having owned a home in the last three years, and you must have a combined gross household income below the maximum income limits for your household size. (See table below)

Effective 6/28/2019
Household Size
Maximum Gross Income (Annual)
Maximum Gross Income (Monthly)
8 $84,700 $7058.33
Due to Federal guidelines, the home being purchased must not have been occupied by a tenant within 90 days of the purchase and sale agreement. The home must also meet a maximum sales price. See below.

  • Existing homes maximum sales price = $337,250
  • New Construction maximum sales price = $449,506
In order to participate in the program, homebuyers will need to complete the following steps:
  • Contact a Washington State Housing Finance Commission-approved lender. The approved list can be viewed at http://www.wshfc.org/buyers/premier.htm
  • Attend a free Homebuyer Education Seminar sponsored by the Washington State Housing Finance Commission and receive a certificate of completion of the seminar and attend a one-on-one pre-purchase counseling session just prior to closing on the home. The seminar and counseling will provide you with the information needed to purchase and maintain your first home. The online Homebuyer Education will not meet the seminar requirement for this program. The list of homebuyer education classes can be viewed at http://www.wshfc.org/buyers/education.htm


If you have questions about the Pierce County Down Payment Assistance Program, please contact Dietrich Schmitz of the Washington State Housing Finance Commission at: