1. Best of HFAs Homeownership Panel Karen Carlson-Bunce Washington State Housing Finance Commission Downpayment Assistance Partnership Programs

2. In 31 years, the Commission has helped: 13,396 Washington homebuyers with $101 million in downpayment assistance funds We currently offer: 8 different DPA programs 3 are partnerships that combine funds from WSHFC and the partner agency Downpayment Assistance Partnership Programs

3. Current Partnership Programs: with City of Seattle with ARCH of East King County with City of Tacoma Downpayment Assistance Partnership Programs

4. Basic Parameters for Partnership DPAs Deferred 2 nd mortgage (not a grant) Use for downpayment, closing costs & pre-paids Must use with WSHFC Home Advantage first mortgage Consistent between programs Follows most restrictive guidelines (HOME): 80% AMI or less, disclosures, inspection, etc. Lender funds loan, we repay through servicer; then request partial reimbursement from partner agency Downpayment Assistance Partnership Programs

5. Process for Developing Programs Partnership discussion Award / NOFA Interagency agreement WSHFC board approval for matching funds Program description, manuals, forms Marketing & training Administration (including reporting) Downpayment Assistance Partnership Programs

6. Innovative and Replicable Lowers cost for partners—no admin fees from WSHFC Partners keep DPA in their jurisdiction or targeted to specific population Partners leverage both WSHFC funds and WSHFC experience with administration Partners can continue offering DPA in their communities and still meet bottom line Downpayment Assistance Partnership Programs

7. Advantages to WSHFC Markets our home-loan programs Niche products bring people to us Serves lower income and specific demographics Our funds go farther with local and federal dollars as leverage Downpayment Assistance Partnership Programs

8. More Information Visit us at wshfc.org! Contact: Downpayment Assistance Partnership Programs Karen Carlson-Bunce 2 nd Mortgage Program Administrator karen.carlson-bunce@wshfc.org (206) 287-4413