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WSHFC Home Advantage Loan Program

Get down payment assistance of 4% of your new home's loan amount.

Call our Mortgage Loan Center

Helping You Finance Your New Home

If you don't have the funds for a down payment, you're not alone. Your savings don't have to be the barrier between you and the dream of homeownership.

In partnership with the Washington State Housing Finance Commission, BECU offers the Home Advantage Loan program for income-eligible BECU Members preparing to purchase a home.1

Qualified buyers can receive down payment assistance of 4% of the loan amount for their new home. For some buyers, this could mean a down payment on a home with $0 out of pocket.

Program Features

  • Down payment or closing cost assistance of 4% of the home's loan amount in the form of a second mortgage.
  • The second mortgage has no interest and no payments for 30 years.2
  • Flexible, low down payment options.

Program Eligibility

  • Be or become a BECU Member.
  • Options for applicants with no credit score.
  • Complete a free homeownership course—provided by certified BECU mortgage advisors.
  • Income limits apply. Contact us to speak with a mortgage sales professional for more details.

Type of Home Eligibility

  • Single-family residence (one-unit home, condo, or townhouse).
  • Primary residence with the intent to stay for at least three years.
  • Home must be in Washington state.

Contact Our Team to Get Started

You are not alone in this process. Our experienced, local home loan advisors are ready to help you every step of the way, with personalized guidance from pre-qualification to the closing of your new home.

You can call the BECU Mortgage Loan Center at 833-777-0633, visit a BECU location to meet with an advisor in person or make an appointment.

First time buyer?

Get more details and resources on our First-Time Homebuyer Loan page.

Why BECU Offers This Program

We believe home ownership is an effective way to drive intergenerational wealth and financial stability for our members.

Homeownership is still largely unaffordable for many Washington state families. A recent study by the Building Industry Association of Washington finds that homeownership is largely unaffordable for 80% of Washington families.3 Higher interest rates either increase monthly mortgage payments or require a larger down payment to offset.

Through the Home Advantage Down Payment Assistance program, BECU is striving to make homes more affordable to low- and moderate-income earners.

Our Partner in Affordable Home Ownership

We partnered with the Washington State Housing Finance Commission to offer the Home Advantage Down Payment Assistance program. Visit the Home Advantage Program to learn more.

Related Content

1 Mortgage loans are subject to membership, credit approval, and other underwriting criteria; not every applicant will qualify. To qualify for the Washington State Housing Finance Commission (WSHFC) Down Payment Assistance Program (DPA), borrower(s) must be a U.S. citizen, or non-U.S. citizen lawfully present in the United States (includes Permanent Qualified Resident Aliens.) Repeat program users are allowed but may only have one outstanding WSHFC loan at a time. Loans in a trust or closing in a trust are not permitted. Household income must not exceed $180,000. For the purchase of a primary residence in Washington state only. The Home Advantage program includes a second mortgage for 4% of the first mortgage amount in Down Payment Assistance. The DPA second will appear as a second lien on title and repayment is due at the time of sale, transfer, refinance, early payoff of first mortgage, no longer occupy as primary residence, or 30 years; whichever comes first. Minimum DPA amount is $1,000. Eligible properties include: 1-unit single family residence including approved condo, townhome, PUD; or 2-unit (duplex) single-family residence. All borrowers who will be listed on the Note and Deed of Trust must complete the Homebuyer Education Seminar registered through the commission and provide a copy of the completion certificate before reserving funds. Program funds may be reserved using a first-come, first-served reservation system. DPA amount will not exceed actual closing costs or down payment amount, and no cash back will be given to borrower(s). Private mortgage insurance may be required. Property insurance is required, and flood insurance may be required. All federal, state, and local taxes imposed on the acceptance of a grant are solely the responsibility of the applicant. BECU may issue an IRS Form 1099-MISC or W-2 to an applicant where a Form 1099-MISC or W-2 is required by applicable law. Applicants should consult their own accountant(s) or tax advisor(s) to determine tax implications, if any. Certain restrictions apply. Home loan programs, terms and conditions are subject to change without notification. BECU reserves the right to change or cancel this program at any time without notice.

2 Based on a simple interest rate of 0%, a $5,000 loan would have a 0.01% APR (includes a $40 finance charge) and 0 monthly payments of $0.00 with a lump sum balloon payment.

3 Helean, Riley. (2025) “Housing Attainability in Washington in 2025.