What Assistance Does the City Provide?
Many teachers would like to live in the same community where they work. The City of Seattle is excited to help our teachers in the path toward home ownership by providing up to $45,000 in additional financing for eligible teachers' first home purchase.
What are the benefits?
For the Teacher Homebuyer Program lender fees are waived and closing costs are reduced. Also, the $45,000 down payment loan is available at a low 3% interest rate with no payments required for 30 years, or until the home is sold.
If the home is kept for 30 years, the accrued interest (and any shared appreciation) is forgiven.
Can I purchase any home in Seattle?
All homes within the Seattle city limits with a value up to $362,790 qualify for consideration. Investment properties are not eligible.
Where can I learn more?
Our lending partner, Evergreen Home Loans offers monthly seminars that cover all the basics of finding and financing a home. They will provide information about qualifying for the program, as well as credit and finance counseling free of charge.
Do all teachers qualify?
The program is designed to support Seattle Public Schools' full-time teachers who have not owned a home for three or more years and who meet the income parameters. Full-time Seattle Public School instructional assistants enrolled in a teacher certification program also qualify. See income limits.
Contact our Lending Partner
If you have questions about the Teacher Homebuyer Program, contact our lending partner:
Evergreen Home Loans
Questions for the Office of Housing?
If you have questions about any of the City of Seattle homebuyer assistance programs, contact our reception desk at (206) 684-0721.