Borrowers must attend a WSHFC-sponsored homebuyer seminar prior to requesting funds
Borrower must receive 1-on-1 pre-purchase housing counseling from an approved housing counselor prior to closing the loan and must attend 1-on-1 post purchase counseling 3-6 months after the close of the loan
Funds may be used for down payment assistance and/or 100% of closing costs including prepaids
Property value must not exceed the House Key State Bond Limit of $300,000
Mortgage Lenders must provide a copy of HUD's "Lead Paint Safety" Field Guide (6/1999) (HUD #1779-LHC) to appraisers and instruct them to specifically address the condition of the paint and note any areas of deterioration. Mortgage Lenders are also required to have the appraiser complete HUD's Housing Choice Voucher Program Inspection Checklist form HUD-52580 (3/2001) to ensure the property meets HUD's Housing Quality Standards.
Subject property must be vacant or owner-occupied by Seller.
Formal disclosure to Seller with the "Disclosure of HOME Program Requirements" form (#HKBREMERTON.8) is used to provide notice to the Seller of these requirements.
Manufactured homes must be June 1976 or newer and meet HUD guidelines.
The borrower's lender will apply for House Key Plus Bremerton Down Payment Assistance through the Washington State Housing Finance Commission. Lenders must be able to originate House Key Loans. The City of Bremerton is not able to directly accept any applications.