Guaranteed Rural Housing Loan Program:
Offering 100% financing with no down payment, this Guaranteed Rural Housing Loan Program provides compelling affordable housing options for lenders, borrowers and families. Vashon fits the requirement for this program.

o Income limits are 115% of area median (for King County, four person household adjusted limit is $88,400 maximum income.)

o Maximum loan amount up to 102% when the guarantee fee is financed into the loan.

o Loan can include closing costs and repairs if appraisal is higher than sales price.

o No monthly mortgage insurance premium payment is required.

o No minimum credit score.

o No cash reserves are required.

o Borrowers do not have to be first time home buyers.

o Flexible Underwriting – Higher ratios considered with compensating factors, including credit scores over 660, job stability and similar housing expense.

o Ample funding available all year.

o No federal recapture.

o No loan limits


o One time 2% Guarantee Fee.