Loans

Deferred Loan Program

Up to $34,000, no interest, and no payments until you sell the home.

Matching Funds Loan Program

Up to $34,000, no interest, with matching funds from the homeowner for a total of $68,000.

The Deferred and Matching Funds Loan Programs may be combined for a total of $102,000.

Eligibility

You are eligible for either loan program if you:

• Own and live in your home
• Live in King County, outside the City of Seattle, Bellevue, Kent, Federal Way and Auburn
• Do not have more than $40,000 in assets (except equity in home, personal vehicles, and personal retirement accounts)
• People with a disability are exempt from the asset limit
• Have some home equity in the home
• Have eligible household income

 

Household Size	Income Limit
1	$77,700
2	$88,800
3	$99,900
4	$110,950
5	$119,850
6	$128,750
7	$137,600
8+	$146,500

 

 

 

 

 

 

 

Repayment

The loans are to be paid back at the time of the homeowner's sale or transfer of the property, or when the home is no longer the primary residence. The loan is secured by a mortgage or other security interest to King County on the homeowner's property. Payment on the obligation will be made to the King County HCD, and becomes available for future appropriation pursuant to the King County Consortium's Consolidated Plan.

How to apply

Call 206-263-9095 between 8 a.m. and 3 p.m. Monday through Friday. To expedite the application process, you can have the following documents and information available for your intake appointment: 

• Your most recent IRS Tax Returns
• Copies of 2 most recent paystubs
• Recent Social Security award letter (if applicable)
• 2 most recent bank statements from all bank accounts
• Documentation of any additional income
• Most recent mortgage statement (Mortgage payments must be current)
• Copy of Declaration page of current homeowner's insurance
• Copies of all investment statements, including any retirement accounts, pensions, or annuties
• If you are a veteran, documentation of service is necessary