Homeownership Program

Parkview's Homeownership Program Offers home buying assistance in King county to individuals with developmental disabilities and family members who will live with them.

Program Overview

There are two major components to Parkview’s program. The first is a home buyer education and counseling component and the second is down payment assistance.

 

Program Eligibility

• Purchase a house or condominium unit in King County.
• Be an individual with a developmental disability or have a family member with a developmental disability (DD) that will live with you.
• Be able to qualify for a mortgage now or sometime in the near future.

Qualifying for the Down Payment Assistance

• Successfully complete Parkview Services’ individualized home buyer education curriculum.
• Successfully complete Parkview Services’ one-on-one pre-purchase budgeting and counseling curriculum.
• Have gross annual income from all sources that is less than 80% of the area median income. Some preference will be given to home buyers who have income below 50% of the area median.
• Be a first time home buyer (you have not owned a home within the last 3 years). There are some exceptions for displaced homemakers or if you purchase in a targeted area.
• Have at least $500 of your own money saved for a down payment. You might be required to have more depending on the particular down payment assistance that you use.
• The person with a developmental disability must have sufficient support services to ensure the health and safety of themselves and their home.

How to Get Started with the Program

• Contact us at homeownership@parkviewservices.org, phone Marc Coté at 206.334.0731, or you may leave a message on our voicemail line at 206.529.4114. Please provide your name, phone, and good times to phone you.

Down Payment Assistance

1. WA State Housing Trust Fund
• Grant received by Parkview for up to $45,000 in assistance
• 0% interest, no payments for 30-years unless you sell or refinance, shared appreciation
  
2. Federal Home Loan Bank Parkview
• Grant received by for up to $14,700 in assistance
• 0% interest, no payments, forgiven after five years
3. City of Seattle
• Grant received by Parkview for up to $45,000 in assistance
• 0% interest, no payments for 37-years unless you sell or refinance, shared appreciation
  
4. HomeChoice Program
• Based on income eligibility, up to $15,000
• 1% interest, no payments for 30-years unless you sell or refinance
5. American Dream Down payment Initiative
   
• Based on income eligibility, up to $10,000
• 3% interest, no payments for 30-years unless you sell or refinance
  
6. Parkview Services
• Based on very unique circumstances, possibly up to $50,000
• 5% interest, monthly payments, 10-year loan

 

 

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