Resources for Successful Homeownership
Even after you buy your home, you may encounter times when you need help or more information.
You may wish to refinance your loan, take out a Home Equity Line of Credit (HELOC) or Home Equity Loan. You may need additional income to support you in later life and wish to consider a reverse mortgage. WHRC has a wealth of resources to help guide you. Additionally, if you are a veteran, a senior, or a person with a disability, there are a variety of programs geared towards helping you meet your homeownership goals.
Homeownership Resources
Click on each resource for more information
A reverse mortgage is a special type of home loan for homeowners aged 62 and over that lets you convert a portion of your home’s equity into cash. The Home Equity Conversion Mortgage (HECM) is the Federal Housing Authority’s reverse mortgage program and is the most common reverse mortgage. Unlike a traditional home equity loan or second mortgage, borrowers do not have to start repaying the loan right away. Repayment is deferred until you no longer use the home as your principal residence or until you fail to meet the obligations of the mortgage. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, or make home improvements. Because a reverse mortgage creates a lien on the property, a specific type of counseling is required before you can receive the loan. Contact WHRC to get connected to a housing counselor who can help you determine if a reverse mortgage is right for you.
As a veteran you may be eligible for special homeownership or homebuyer assistance. Call us today if you are interested in learning more about available programs that meet your current needs.
If you know a veteran who is homeless or at risk of homelessness, the Veteran’s Administration provides help. Each VA Medical Center has a specialist on staff that provides assistance, and veterans and their families can get housing vouchers and other assistance.
The Washington State Department of Veteran Affairs operates several homes for veterans. Visit their website for more information.
If you or someone in your household has a disability, you may qualify for homebuyer assistance, assistance with home modifications, and more. There are a variety of federal, state, and local programs that may be able to assist you depending on your needs. Contact us today to learn more.
The Black Home Initiative (BHI) is a new regional effort to increase the Black homeownership rate in South Seattle, South King County, and North Pierce County. Learn More
WHRC works exclusively with homebuyers and homeowners. If you are a renter whose landlord is experiencing foreclosure, you can find information about your rights at the following places:
If you are seeking information about rental assistance or homelessness prevention, or need help finding affordable rental housing, call 211 or visit www.211.org.
Do you need help now?
Use our online portal or the hotline number to contact us. Free interpretation services are available by phone in over 220 languages.