Eligibility – About You

Homeownership Center Northwest receives major funding from the City of Tacoma, Pierce County Human Resources, the Washington State Housing Trust Fund, and the City of Lakewood.
With this funding comes specific buyer qualifications that must be met.

Do you qualify?

To be eligible to purchase one of our homes and take advantage of the special
financing programs you must:

Have NOT owned a home within the past three years.

Have at least $1,000 available for a down payment and approximately $600 available for the first year’s homeowners’ insurance premium.

Have a total combined household income before taxes of LESS than:

Family Size Median Income 80% of median income
1 $56,200 $44,950
2 $64,200 $51,350
3 $72,200 $57,750
4 $80,200 $64,150
5 $86,700 $69,300
6 $93,100 $74,450
7 $99,500 $79,550
8 $105,900 $84,700

Use the home you purchase from HCNW as your principal residence – the home MAY NOT be used as a rental for as long as you own the property.

Attend the required five-hour First Time Homebuyers classes, and orientation.

Be willing to repair any outstanding credit issues. Bankruptcies must have been discharged for the minimum period required by the First Mortgage Lender.

Agree to offer the home for sale to HCNW first before selling on the open market. (This can be of great benefit since no realtor commissions are incurred.)

Agree to specific financial terms if the home is sold during the first 5 years of ownership.

If you are able to meet this eligibility criteria, HCNW’s programs offer an
unparalleled homeownership opportunity!

First-Time Homebuyer Education Seminar & Class

The Homeownership Center helps homebuyers learn how to purchase and maintain a home. These Washington State homebuyer education seminars are the first step in purchasing a home. They are free and open to the public, include information about the Homeownership Center mortgage programs, down payment assistance, and other loan programs; and are accepted by all affordable housing loan programs as meeting or exceeding educational requirements.

HCNW Instructors Have Attended Training and Agreed to Standards Which Assure That…

  • Seminars are at least five hours in length, covering all major aspects of the home buying process.
  • Seminars are presented in an open, unbiased format.
  • Seminars use approved training materials and handouts.
  • Seminars are offered by HCT’s certified instructors that have completed the House Key and Homebuyer Education Instructor training program.
  • No direct marketing or sales presentations may be given either by the instructor or any guest speakers.

Seminar Workbook

Guide to Home Loans workbook is provided by the Washington State Department of Financial Institutions.

Reservations Are Required For All Seminars 

If you will be using any of the programs offered by the Homeownership Center to purchase your home, you must complete the seminar. Many people find they gain enough information at the seminar to successfully locate and finance a home of their own. Others may find they need additional assistance.
For the Saturday Washington State Finance Commission class, Pre-registration for this class is required. The Homeownership Center offers this class at our office on the third Saturday of each month from 9:00 am to 3:00 pm. Call or email Tina to secure your reservation for this Saturday “First Time Homebuyers Class”.

First-Time Homebuyer Orientation

The Homeownership Center helps homebuyers learn how to purchase and maintain a home. These orientations are the first step in purchasing a home. They are free and open to the public, include information about the Homeownership Center programs, down payment assistance, and other loan programs. Attend this free orientation workshop at the Homeownership Center, located at the corner of 15th & J. Workshops are held Mondays from 6:00pm – 7:30pm, and on Wednesdays from 11:30am-1:00pm. At this orientation/class you will learn more about our Homeownership programs and have the opportunity to begin the home buying process.

Reservations Not Required For All Homeownership Orientations 

If you will be using any of the programs offered by the Homeownership Center to purchase your home, you must complete the orientation. No pre-registration is necessary.
This weekly orientation is at held at our offices, 1424 South J Street, Tacoma, 98495.
Feel free to email or call at your convenience.
The Homeownership Center is also online!  Learn more.
www.hcthomes.org
Staff@hcthomes.org
253.627-6560.

Schedule a Class

If you would like to schedule a class or get more information about our program, please use the contact form below and we’ll get back in touch as soon possible.

Homeownership Center Northwest Program Applications

Please note filing an application does not automatically constitute a relationship with HCNW.

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