Resource Development

HomeStart
HFHWA coordinates HomeStart - the Federal Home Loan Bank of Seattle's downpayment assistance program.  HFHWA works with lenders to secure HomeStart slots.  HomeStart provides a $5000 grant to the homebuyer to cover closing costs and principal reduction.  HFHWA notifies affiliates when slots are available.  HomeStart is a matching grant and the family's sweat equity can serve as the family's portion of the match.

Affiliates can also work directly with local lenders to secure HomeStart slots.  Information and forms are available on the Federal Home Loan Bank of Seattle website.  

Special Habitat Pricing
HFHWA has negotiated special Habitat pricing for all affiliates building in Washington State with a number of vendors - contact Jerry Fugich for information.

HFHWA Partnerships
HFHWA manages the statewide partnerships with Building America and with the Washington Aggregate and Concrete Association.  Affiliates that would like to participate should contact Jerry Fugich.

HFHWA coordinates the statewide partnership with Grocery Outlets.  Affiliates that would like more information should contact Maureen Howard.

Washington State Housing Fund
Washington State has a Housing Trust Fund which is funded through the State's Capital Budget.  Details on the Housing Trust Fund can be found at the Washington State Department of Community, Trade, and Economic Development (CTED) website.  Follow the links to Housing, Programs and Services, Housing Trust Fund.

2060 Funds
Counties collect a $10 document recording fee and retain 60% of the money to use for housing projects affordable to very low-income persons (incomes at or below 50% of the area median income.)  Several Habitat affiliates benefit from what are known as "2060 Funds" (the House bill which passed in 2002 was House Bill 2060).  Affiliates should contact their local county housing department for more information on 2060 Funds.

2163 and 1359 Funds
Counties also collect a $10 document recording fee for programs to assist homeless people - under House Bill 2163 passed in the 2005 Legislative Session with an additional $8 collected under HB 1359 passed in the 2007 Legislative Session.  Affiliates should review their county homeless housing plan to see if homeownership could be included.  If included, homeownership programs could be eligible for funding under the county program.  

Land Acquisition Program
The Washington State Housing Finance Commission manages the new Land Acquisition Fund designed to provide money for land-banking.  

Construction Financing
Yakima Federal Savings & Loan developed a leveraging tool for use during construction.  The bank loans the affiliate a portion of what is required to complete construction of the home.  This loan converts to permanent financing at closing but remains a loan between the bank and the affiliate.  The affiliate sells the home to the family at 0% interest and uses cash flow from the mortgage payments to repay the construction loan.  Yakima Federal Savings & Loan will make the information available to other lenders.  Contact the HFHWA Office for more information.