In our last edition, we highlighted the new partnership between non-profit HomeSight, Windermere Real Estate, US Bank, and NAREB with the launch of the Sam Smith Homeownership Fund, which provides purchase assistance to Black/African American borrowers living in Washington State. The Sam Smith Fund is part of HomeSight’s Homeownership Center, which provides an array of additional programs and services to further the organization’s goals of preserving and promoting economically and culturally diverse communities through affordable homeownership, business development, and community advocacy.
In this edition, we are highlighting some of HomeSight’s other programs and services within the Homeownership Center so you can help your buyers access these resources to realize their homeownership dream!
The Center is dedicated to helping homebuyers find a personalized path to homeownership, put down roots in their communities, and bring financial stability through generational wealth. The team is comprised of 13 staff members, led by Director Moussa Samb, who work across four key areas of focus: Homebuyer Education, Mortgage Lending, Foreclosure Prevention, and Purchase Assistance. Additional partners in King County include Habitat for Humanity and Homestead Community Land Trust.
To enable affordable homeownership for those who may have insufficient down payment saved up, HomeSight helps borrowers tap into city, county and state funding programs, in addition to special programs it manages, such as the Sam Smith Fund, a social justice down payment assistance program, and others. For borrowers who use an Individual Taxpayer Identification Number (ITIN) vs. a Social Security number, VISTA loans are available.
Learn more about each of the four areas of focus within the Homeownership Center at the links below.
Homebuyer Education: The down payment assistance (DPA) programs require homebuyer education. HomeSight offers two options: live, interactive sessions and a web-based, self-guided course for those who need to learn on their own schedule.
Mortgage Lending: HomeSight offers conventional mortgages statewide. The fees from lending are immediately invested back into the organization to support its mission.
Foreclosure Prevention: HomeSight helps former and active military members become current on housing-related payments to remain in their homes. Additionally, HomeSight has partnered with the City of Seattle’s Office of Housing to create the Stability Loan Program for homeowners in Seattle.
Purchase Assistance: Through private and public partnerships, HomeSight provides purchase assistance to qualified first-time homebuyers through low interest loans that are deferred for 30 years.
