Current down payment assistance guidelines, updated from one source.
The current program figures below are refreshed from Lendmire’s down payment assistance standards source at each visit, so the options shown for Anacortes, WA are the options in force.
Of the purchase price
The largest option is a repayable second lien that covers your down payment and can reach closing costs and prepaids too; the smaller options cover the 3.5% FHA minimum down payment.
Covers the whole FHA down payment
This covers the full 3.5% FHA minimum down payment as a second lien with no payment and no interest, forgiven once you have made 36 or 60 on-time payments on the first mortgage.
On every option offered here
No income limit on any option offered in Washington — one of the biggest advantages of this program. Earn what you earn; the assistance is sized on the price, not on your income.
Credit score to start
This is the lowest score that opens an option here — the forgivable second liens; the repayable options start a little higher, so a stronger score opens more choices.
| Option | Assistance | What you repay | Credit · mortgage · units |
|---|---|---|---|
| Forgivable second lien — three-year | 3.5% of the price | Nothing after 36 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Forgivable second lien — five-year | 3.5% of the price | Nothing after 60 on-time mortgage payments | 640+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Repayable second lien — thirty-year amortization, ten-year balloon | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b), FHA Limited 203(k), HUD-184, USDA · 1–2 units |
| Closing-cost repayable second lien | 3.5% or 5% of the price | Second lien, 30-year amortization, balloon in year 10 | 660+ · FHA 203(b) · 1–2 units |
| Refinance-cost second lien (repayable) | 1% to 3.5% of the balance | Second lien, repaid | 660+ · FHA 203(b) · 1–4 units |
Current down payment assistance snapshot · updated September 7, 2026 · five options offered in Washington · no option requires a first-time buyer · no option combines with another assistance program · owner-occupied primary residences only.
Down payment assistance options are consumer mortgage programs arranged through select wholesale lenders, licensed in sixteen states, paired with FHA, USDA, or HUD-184 first liens. Assistance is stated as a percentage of price or value, never as a dollar figure a specific borrower would receive; the forgivable and repayable options are second liens with their own disclosures. Eligibility depends on the first lien’s approval, the option’s rules, the property, and full underwriting, subject to lender program eligibility. The calculator’s rate is an editable market benchmark, not a quote, and its payment is an illustrative estimate; no fee or lender identity appears on this page. Lendmire is a mortgage broker and never the lender, and is not affiliated with or acting on behalf of FHA, VA, USDA, HUD, or the federal government. Lendmire, LLC — NMLS #2371349. Equal Housing Opportunity.
What down payment assistance is — and how the options differ.
The first-time home buyer programs in Anacortes, WA answer the most common reason a qualified buyer does not close — the cash to close — with assistance measured on the price and shaped to the buyer’s situation.
For the program overview, see Lendmire’s down payment assistance program, or the statewide guide at Down Payment Assistance in Washington.
Assistance covers the FHA down payment
In Anacortes, WA, the assistance attaches to the first lien at closing and covers the buyer’s required investment; on the larger option, what remains after the minimum investment goes toward closing costs.
Three shapes: forgivable, repayable, refinance
For an Anacortes buyer the choice is about cost to carry. The forgivable options cost nothing if the first lien stays current through the forgiveness period; the repayable option is a second loan with its own disclosure and a balloon, and it reaches closing costs.
Credit floors, mortgage programs, and unit counts
An Anacortes file is placed by three things — the credit tier, the first-lien program, and the property — and the options table on this page shows the floor, the first liens, and the unit limit for every option offered in Washington.
Eligibility without a first-time-buyer rule
No option requires a first-time buyer, and no option carries an income limit beyond the first lien’s own rules; an Anacortes buyer who has owned before qualifies on credit, first lien, and property alone.
The assistance is measured on the price, so the calculator starts there. It then applies the option you choose, your own cash, and an editable benchmark rate to show the loan, the mortgage insurance, and the payment.
Where Anacortes’ first-time and moderate-income buyers shop — and how the assistance fits.
Census housing and income data describe who buys in Anacortes, WA and what it costs to get in; a lender reads those figures as context for the first lien, not as underwriting inputs.
Market context only. Value and income rarely move at the same pace; the market figures below show what an Anacortes home costs and how many households rent, and the calculator shows what that means for the minimum investment.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Anacortes submarkets, distinct property rules.
Across Anacortes’ condominiums, townhomes, and older neighborhoods close to work, the same program produces different closings because prices, property types, and first liens differ block by block.
Older neighborhoods and renovation loans
Renovation purchases in Anacortes qualify for the assistance on the price before repairs, which lets a buyer take on a home that needs work without also finding the minimum investment. The median owner-occupied home value in Anacortes runs near $696,700 on the latest Census estimate.
Manufactured homes on owned land
For Anacortes buyers looking at manufactured housing, the assistance is available on owned land, with single-width homes reaching only the option that accepts them. On a home at Anacortes’ median value, the FHA minimum investment comes to about $24,400 — the figure the assistance is built to cover.
Townhomes and attached homes
In Anacortes, a townhome in a planned development pairs cleanly with the program; the association’s rules and dues are read alongside the first lien, and the assistance covers the down payment. Anacortes itself counts a population near 18K; it sits within the Mount Vernon-Anacortes, WA area.
Condominiums close to work
In Anacortes, a condominium near the job is the first home many buyers can reach; the program pairs with it as long as the project clears FHA review, and the assistance covers the minimum investment the same way it would on a house. Median household income in Anacortes sits near $91,951 on the latest Census estimate.
New construction and infill
Infill and new-build homes in Anacortes pair with the assistance as long as the property is the buyer’s primary residence and the first lien is a government program. About 30% of Anacortes’ households rent — roughly 2,442 renter households, the pool the program exists for.
Small multi-unit homes, owner-occupied
A buyer who lives in one unit of an Anacortes duplex can use the program on the whole building; a second-lien option, which stops at two units, makes a house-hacking purchase reachable with the minimum investment covered. Median gross rent in Anacortes is about $1,702 a month — the payment many renters already carry.
Submarket descriptions are general market context; the first lien’s approval, the option’s rules, and full underwriting decide every figure in a file.
Four ways Anacortes buyers put down payment assistance to work.
How Anacortes buyers put the program to work depends on the first lien, the property, and what the help needs to cover; these four paths cover most files.
Pair the assistance with a USDA or HUD-184 mortgage
In USDA-eligible areas around Anacortes, the forgivable and repayable options pair with a no-down-payment first lien (the separate closing-cost option is FHA only); HUD-184 first liens pair the same way.
Cover closing costs too on the larger option
The larger option exists for the Anacortes, WA closing where the down payment is only half the problem: it carries the minimum investment and a further share for costs.
Cover the costs of an FHA refinance
An Anacortes homeowner refinancing an existing FHA loan can use the refinance-cost option, a repayable second lien sized on the balance, to cover closing costs and keep the first lien inside FHA limits.
Buy a first home with the down payment covered
An Anacortes buyer with the income for the payment but not the cash to close uses the assistance to cover the FHA minimum investment, forgiven in as little as three years, and keeps savings for the move.
Size the assistance on an Anacortes price before requesting a quote.
Enter an Anacortes purchase price, choose an assistance option offered in Washington, and add any cash of your own. The calculator sizes the FHA minimum investment, applies the assistance to the down payment and closing costs, builds the FHA loan with its upfront and monthly mortgage insurance, and estimates the payment at an editable market benchmark rate — with housing and total ratios when you enter income.
Anacortes FHA payment with assistance
Illustrative Anacortes inputs; the calculator recalculates on every change.
Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an FHA loan quote.
Illustrative starting assumptions: a $600,000 price held below Anacortes’ median owner-occupied home value, where an FHA first lien is realistic, the strongest assistance option offered in Washington applied against the FHA minimum investment, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for Washington (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not an FHA loan quote; your rate is set by the lender at lock. FHA mortgage insurance follows HUD’s published schedule for the term, leverage and loan size entered; taxes, insurance and dues are editable estimates; closing costs are not included; a repayable second lien adds its own payment, which is not shown here. Consumer mortgage lending licensed in sixteen states. Lendmire is not affiliated with or acting on behalf of FHA, USDA, HUD, or the federal government.
Same buyer, three very different closings.
Same Anacortes buyer, three closings: assistance on an FHA loan, the buyer’s own minimum investment, or assistance on a USDA or HUD-184 loan.
Assistance on an FHA loan, your own down payment, or assistance on a USDA or HUD-184 loan.
Assistance that closes with the first lien: it covers the minimum investment; its shape is chosen by the credit tier and the first lien, and the second-lien options stay open to repeat buyers with no income limit.
The buyer brings the minimum investment from savings, a retirement withdrawal, or seasoned funds; no second lien, no eligibility category, no homebuyer education requirement, and no assistance to carry. For the first lien itself, see Lendmire’s FHA loan program.
USDA and HUD-184 first liens pair with the forgivable options and the ten-year repayable option on an Anacortes, WA file; the separate closing-cost option is FHA only. For the USDA first lien, see the USDA loan program.
If the payment fits but the cash to close does not, down payment assistance is the structure; if the cash is there, the plain purchase; if the property is USDA-eligible, the USDA first lien with assistance for costs.
What to prepare for an Anacortes scenario review.
What a down payment assistance review usually starts with.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the mortgage, the assistance option, the property, and the eligibility category. Nothing here is legal or tax advice.
Local details that can change the loan.
Every Anacortes file is underwritten individually, but the same handful of considerations recur; they are worth settling before the contract is signed.
Use these checks to keep the Anacortes file clean and fundable.
The checks below keep an Anacortes assistance file on track, and each one comes from the option’s own terms rather than from a lender’s preference.
- Know the option: confirm the option is offered in the state.
- Understand the clock: keep the first lien current through the forgiveness period.
- Confirm the property: confirm the property will be the primary residence.
The option decides what you owe afterward
The same minimum investment can be covered two ways in Anacortes, WA, and the difference is entirely in what happens after closing: nothing if the first lien stays current, or a second loan that comes due; the options table shows what is offered.
The forgiveness clock on the forgivable options
For an Anacortes, WA buyer, the forgivable options cost nothing to carry as long as the first lien stays current through the period; they are not resubordinated, not assumed, and no additional lien can be added behind them.
Property type and unit count select the option
Before the contract is signed on an Anacortes home, the unit count, the condominium status, the manufactured-home width and title, and any association package are checked against the option’s rules.
The balloon on the repayable option
The repayable second lien amortizes over thirty years but comes due in the tenth year; it carries interest and a monthly payment, its own loan number, and a balloon disclosure. It is the option that reaches closing costs, and it is a loan.
Escrow holdbacks for minor repairs
An Anacortes home with a small repair list does not have to wait for the work before closing; the escrow holdback carries it, within the program’s cap and timeline, with an inspection when the work is done.
From an Anacortes pre-approval to keys with the assistance in place.
The process for an Anacortes, WA purchase with assistance is deliberate, because the details around the assistance are what stall closings.
Pick the option
Every Anacortes file starts with the option and the first lien; the homebuyer education course and the property rules are then settled around them, in that order.
Get the mortgage approved
The first lien’s approval carries the file; the assistance is arranged alongside it, with the eligibility category and the education certificate in hand where they apply.
Clear the property
The property side of an Anacortes, WA file is where the option can change: unit count, project approval, and the loan limit are confirmed before the closing is scheduled.
Close both loans together
The Anacortes closing carries both instruments: the first lien and the assistance, each documented on its own and closed together, with the education certificate in the file where it applies.
A brokerage that pairs the assistance to the loan.
An assistance file rewards preparation, and preparation is what a brokerage built for first-time and moderate-income buyers provides.
The option, matched to the buyer
An Anacortes scenario is placed on the right option first — the credit tier, the first lien, and the category — and the rest of the file is then built to fit it, before anything is ordered.
The mortgage, matched to the property
An Anacortes file is matched to the first-lien program that carries the property — FHA everywhere, USDA or HUD-184 where they fit — and the assistance option follows that choice.
The right wholesale program
Assistance programs differ across wholesale lenders in what they offer and where; Lendmire places an Anacortes, WA file where its credit, its first lien, and its property read best, subject to lender program eligibility.
Trusted by first-time buyers & families alike.
Anacortes down payment assistance FAQs
Straight answers for Anacortes buyers weighing down payment assistance; the mortgage approval and the option’s rules decide every actual figure.
Do I have to be a first-time homebuyer?
No option requires it. First-time status is not a rule of the program in Washington; the options open on the credit tier, the first-lien program, and the property.
Is there an income limit?
There is no income limit on the forgivable or repayable options; the first lien’s rules are the only income test an Anacortes buyer meets.
What first-time home buyer programs are available in Anacortes?
Three shapes paired with a government first lien: forgivable second liens with no interest and no payment, released after an on-time payment period; a repayable second lien with a balloon that also reaches closing costs and prepaids; and a refinance-cost option for an existing FHA loan. The options table on this page shows what is offered in Washington.
Do I have to pay the assistance back?
The forgivable second liens: no interest and no payment, released after the on-time payment period on the first lien, and they pair with FHA, USDA, and HUD-184 first liens. The repayable option is a loan with its own payment.
What credit score do I need?
Scores in the low six hundreds open the first option, and each step up in score opens more of them. The mortgage program has its own rules too, so the credit score, the mortgage, and the property are read together before the option is named.
Do I need a homebuyer education course?
No option offered in Washington requires it, though the course covers the budget, the closing, and the responsibilities that come with the first lien and is worth an evening.
What is the rate on the mortgage and on the assistance?
A scenario review produces the actual terms; the calculator here shows an estimate at a benchmark rate you can change, with the assistance sized on the price you enter.
Can the assistance cover closing costs too?
The larger repayable option reaches closing costs; the others stop at the down payment. An Anacortes buyer short on both uses the larger option.
Which mortgages can the assistance be used with?
FHA on every option, with the repair-escrow and renovation programs where the options table allows them and the standard FHA loan alone on the closing-cost and refinance options; USDA and HUD-184 on the forgivable and repayable second liens (the closing-cost repayable option, the one that also reaches prepaid items, is FHA only). Conventional first liens are outside the program.
What does Lendmire do on an Anacortes first-time home buyer file?
The structural work covers the option, the first lien, the property, the education course, the disclosures, and closing. An Anacortes buyer brings the contract; Lendmire brings the fit.
Bring the price. We will find the option.
Start with the price, the first lien you expect, and your credit tier. No credit pull or commitment is required to request an initial scenario review.
This guide covers Anacortes — for the statewide options, categories, and property rules, see Down Payment Assistance in Washington, part of Lendmire’s down payment assistance program.
Nearby markets in Washington: Mount Vernon · Friday Harbor · Bellingham · Marysville · Everett · Port Angeles · Shoreline · Bothell
Related programs: FHA Loans · USDA Loans · FHA 203(k) Rehab Loans