Tacoma’s Down Payment Assistant Program

The City of Tacoma offers down payment assistance to first time low income home buyers who qualify for the program. The Down Payment Assistance loan amount can be up to $20,000 and can be used to pay for down payment, closing costs, and buying down the interest rate.  This is an excellent opportunity for home buyers who do not have the full down payment necessary to purchase a home, but can afford to make the monthly payments.

The assistance may be a 20 year deferred, 0% interest loan, or a 5 year deferred loan with no payments, then have small payments beginning in the 6th year with a balloon payment in the 20th year.

The property must be located within the boundaries established by the TCRA (Tacoma Community Redevelopment Authority). This area consists of most everything located South of 6th Avenue, the East side of Tacoma and the South End to the Tacoma City Limits. 

Home-buyer must be a “first-time home-buyer”, attend a home-buyers class and meet income limits.

Buyers must still get pre-qualified for a loan through their Mortgage company.

For more information on this loan or to find houses that would qualify, email or call me at 253-286-3456.

To find out what if this loan would work for you and get started on the approval process contact Matt Dill with PC Bank  at 253-286-5363.