Important Announcement
The Seattle Bank is pleased to announce the availability of approximately $4.0 million for the 2012 Home$tart and Home$tart Plus Programs. On April 2, 2012:
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$1.5 million of Home$tart and Home$tart Plus Program funds will be made available to all Seattle Bank members on a first-come, first-served basis.
- Approximately $2.5 million will be equally allocated among Seattle Bank members that enrolled at least one homebuyer in Home$tart or Home$tart Plus between May 1, 2009 and March 30, 2012. After July 31, 2012, unused funds will be made available to all members through the first-come, first-served pool. Members that exceed their allocation before July 31, 2012 may access the first-come, first-served pool at any time.
Members may enroll eligible homebuyers in the Home$tart and Home$tart Plus Programs
once the Seattle Bank has received a properly signed 2012 Home$tart and Home$tart
Plus Regulatory Agreement.
Home$tart and Home$tart Plus promote homeownership by helping first-time homebuyers earning
up to 80 percent of area median income, adjusted for family size, purchase
a home.
- The Home$tart Program provides $3 for every $1 of a homebuyer's funds up to $5,000.
- The Home$tart Plus Program provides homebuyers receiving public housing assistance
with $2 for every $1 of the homeowner’s funds, up to $10,000.
- Home$tart and Home$tart Plus grants may be used for downpayments, closing costs, or rehabilitation
of an owner-occupied housing unit, including a condominium or cooperative housing
unit, to be used as the homebuyer’s primary residence. Grants may be used in combination
with funds from other sources.
Since their inception in 1995, Home$tart and Home$tart Plus have granted more than $42 million to help more than
8,500 first-time homebuyers purchase their first homes (as of December 31, 2011).
For Homebuyers
Prospective homebuyers must apply for grants through a Seattle Bank
participating member financial institution. The contacts listed on this page can provide more information
about Home$tart and Home$tart Plus and how to apply.
For Member Financial Institutions
To participate in Home$tart and Home$tart Plus, Seattle Bank members must complete and submit a one-time
Member Application for New Home$tart and
Home$tart Plus Programs Participants. Additionally, members must sign and return a
Home$tart and Home$tart Plus Regulatory Agreement that governs the program year in which the
member is participating.
Members currently participating in the Seattle Bank’s Home$tart and Home$tart Plus Programs
may enroll new homebuyers at any time subject to funds availability.
To determine if first-come, first-served funds are available, please
log on to Community Investments Services section of our website. Please do not submit
an enrollment before checking the availability of funds.
To learn more about Home$tart and Home$tart Plus, please review:
Questions? Please contact Community Programs Analysts,
Craig Horton (206.340.2436), or
Mandie Ludlam (206.340.2389).