Federal Way Down Payment Assistance

Good News For those of you that work in the South end.

Federal Way has Modified their $30,000 down payment assistance program in three important ways:

1. they’ve increase the income limits dramatically from where they were originally:

1. 1 person: $71,900, 2 person $82,200, 3 person $92,450, 4 person $102,700
2. The funds are available for all of Federal Way, not just in certain census tracts

 

Good News for All

Interest rates continue to be below 5% for both conventional and FHA mortgages.  The simple explanation for why this is the case:  Despite our economic situation and our propensity to spend money, other countries are in much worse shape.  Investors are flocking to the relative safety or our mortgage and treasury bonds thus keeping our rates low.