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Washington First Time Home
Buyer
 Washington
State is one of the fastest growing areas in the West. The prices are little
high for a first time home buyer but the property taxes can be very reasonable
in many areas. A starter home or condo can cost you $250,000-$350,000 and you
may want to consider a 30 year fixed 2-1 buydown or 80-20 interest only loan to
keep your monthly payment down. I visited Bellevue, Washington in 2006 and I
can't get over how beautiful the snow caps were on mountain I observed from the
plane upon landing at the Seattle airport and the gorgeous sunset on a nearby
lake on the way to my hotel. Bellevue, Washington was ranked #21 on Money
Magazine's best places to live in 2006.
Real Estate Stats
| Fastest Growing Areas
Projected price change for 2007 |
Median Home Price |
| Tacoma, WA 4.0% |
$252,740 |
| Seattle-Bellevue, WA 2.8% |
$368,660 |
| Vancouver, WA 2.3% |
$279,340 |
Special
Programs
 Home Opportunities First Time Home Buyer Program Opens Doors for a New York
Fireman, Police Officer, Paramedic, Teacher, and health care worker such as Nurse.
This program features 100% financing with no income restrictions and the credit
score requirement is only 600. Also, you can have stated secondary income from
side job which you don't have to verify. In addition, higher than normal debt to
income ratios are allowable, up to 50%. Finally, we are offering a $500 credit
toward closing costs.
Bond Programs
National Homebuyers Fund-NHF
Special rates on zero down MyCommunity loan program and low rate 2nd mortgage to
pay for down payment and closing costs. Contact Gerald Tribuzio at
847-516-5743 for details on program and rate quote.
For more info, check out ACCESS Program at
http://www.nhfloan.org/nhf/products_accessintro.htm
FHA Loans
You may want to consider an FHA loan which requires 3% down payment but
there are maximum loan limits which are stated for some of the counties below.
You don't need excellent credit to qualify and you can utilize down payment
assistance to qualify. Please visit
FHA mortgage limits
if your county doesn't appear below. Finally, if you intend to purchase a condo
then the building must already be on the
FHA approved list.
| City/MSA Name
|
County Name
|
One-Family |
Two-Family |
Three-Family |
Four-Family |
| NON-METRO
|
ADAMS |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| LEWISTON, ID-WA (MSA)
|
ASOTIN |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
|
KENNEWICK-RICHLAND-PASCO, WA (MSA) |
BENTON |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| WENATCHEE, WA (MSA)
|
CHELAN |
$213,750 |
$256,248 |
$309,744 |
$384,936 |
| PORT ANGELES, WA
(MICRO) |
CLALLAM |
$225,150 |
$256,248 |
$309,744 |
$384,936 |
|
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) |
CLARK |
$284,600 |
$320,550 |
$389,452 |
$449,400 |
| NON-METRO
|
COLUMBIA |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| LONGVIEW, WA (MSA)
|
COWLITZ |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| WENATCHEE, WA (MSA)
|
DOUGLAS |
$213,750 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
FERRY |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
|
KENNEWICK-RICHLAND-PASCO, WA (MSA) |
FRANKLIN |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
GARFIELD |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| MOSES LAKE, WA
(MICRO) |
GRANT |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| ABERDEEN, WA
(MICRO) |
GRAYS HARBOR |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| OAK HARBOR, WA
(MICRO) |
ISLAND |
$278,800 |
$314,016 |
$381,550 |
$440,250 |
| NON-METRO
|
JEFFERSON |
$319,200 |
$359,520 |
$436,800 |
$504,000 |
|
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION |
KING |
$362,790 |
$411,950 |
$500,500 |
$577,500 |
|
BREMERTON-SILVERDALE, WA (MSA) |
KITSAP |
$361,000 |
$406,600 |
$494,000 |
$570,000 |
| ELLENSBURG, WA
(MICRO) |
KITTITAS |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
KLICKITAT |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| CENTRALIA, WA
(MICRO) |
LEWIS |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
LINCOLN |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| SHELTON, WA
(MICRO) |
MASON |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
OKANOGAN |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
PACIFIC |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
PEND OREILLE |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| TACOMA, WA
METROPOLITAN DIVISION |
PIERCE |
$362,790 |
$411,950 |
$500,500 |
$577,500 |
| NON-METRO
|
SAN JUAN |
$362,790 |
$454,750 |
$552,500 |
$637,500 |
| MOUNT
VERNON-ANACORTES, WA (MSA) |
SKAGIT |
$283,983 |
$319,855 |
$388,609 |
$448,395 |
|
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) |
SKAMANIA |
$284,600 |
$320,550 |
$389,452 |
$449,400 |
|
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION |
SNOHOMISH |
$362,790 |
$411,950 |
$500,500 |
$577,500 |
| SPOKANE, WA (MSA)
|
SPOKANE |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| NON-METRO
|
STEVENS |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| OLYMPIA, WA (MSA)
|
THURSTON |
$261,824 |
$294,897 |
$358,286 |
$413,407 |
| NON-METRO
|
WAHKIAKUM |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| WALLA WALLA, WA
(MICRO) |
WALLA WALLA |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| BELLINGHAM, WA (MSA)
|
WHATCOM |
$285,000 |
$321,000 |
$390,000 |
$450,000 |
| PULLMAN, WA
(MICRO) |
WHITMAN |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
| YAKIMA, WA (MSA)
|
YAKIMA |
$200,160 |
$256,248 |
$309,744 |
$384,936 |
VA Loans
A VA loan is designed for a veteran or active military personnel. Zero down
payment is required and the loan limit is now $417,000. WestAmerica Mortgage Company
is a VA Endorsed Lender and we can get you pre-approved and email you a
preapproval letter in minutes. You can have less than perfect credit and still
qualify for a great rate so take advantage of your VA loan eligibility today.
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