See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated April 28, 2026
Homebuyer Programs in Lake Stevens, WA (2026)
Lake Stevens is a fast-growing Snohomish County city of about 40,521 residents centered on its namesake lake, with a median home price near $680,000. Although the City of Lake Stevens does not run its own homebuyer down payment assistance program, buyers stack help from the Snohomish County Down Payment Assistance Program (up to $50,000 as a 30-year deferred loan), the Washington State Housing Finance Commission Home Advantage DPA (up to 5% of the loan), HomeChoice (up to $15,000 for buyers with disabilities), Veterans DPA (up to $10,000), and the Covenant Homeownership Program (up to $150,000 for eligible historically excluded buyers). Habitat for Humanity Snohomish County serves Lake Stevens families at 30%-80% of Snohomish County AMI. Credit union grants from BECU (up to $8,000) and WSECU (up to $10,000) reduce closing-day costs.
County Programs in Snohomish County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Snohomish County Down Payment Assistance Program | Deferred Loan | Up to $50,000 | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Up to $50,000
- First-time only:
- Yes
State Programs in Washington
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Covenant Homeownership Program | Forgivable Loan | Up to $150,000 (20% down plus closing costs) | Yes | View → |
| Home Advantage DPA | Deferred Loan | Up to 5% of the first mortgage loan amount | No | View → |
| Home Advantage Needs-Based DPA | Deferred Loan | Up to $10,000 | No | View → |
| HomeChoice Down Payment Assistance | Deferred Loan | Up to $15,000 | Yes | View → |
| Opportunity Down Payment Assistance | Deferred Loan | Up to $15,000 | Yes | View → |
| Veterans Down Payment Assistance | Repayable Loan | Up to $10,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- Up to $150,000 (20% down plus closing costs)
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 5% of the first mortgage loan amount
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $10,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $15,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $15,000
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| BECU First-Time Homebuyer Grant | Grant | Up to $8,000 (the lesser of 3% of purchase price, 3% of appraised value, or $8,000) | Yes | View → |
| Habitat for Humanity Snohomish County Homeownership Program | Zero-Interest Loan | Below-market home sale with zero-percent or low-interest affordable mortgage. Effective subsidy typically tens of thousands of dollars. | Yes | View → |
| WSECU Welcome Home Grant | Grant | Up to 5% of the home sale price, not to exceed $10,000 | Yes | View → |
- Type:
- Grant
- Amount:
- Up to $8,000 (the lesser of 3% of purchase price, 3% of appraised value, or $8,000)
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Below-market home sale with zero-percent or low-interest affordable mortgage. Effective subsidy typically tens of thousands of dollars.
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to 5% of the home sale price, not to exceed $10,000
- First-time only:
- Yes
How to Apply
Confirm your eligibility. Most local programs require household income at or below 80% of Snohomish County AMI (roughly $147,400 for a four-person household for 2026). Pull a recent pay stub and tax return to verify.
Complete homebuyer education. The Washington Homeownership Resource Center, Habitat Snohomish County, and HomeSight all offer HUD-approved courses. Most state, county, and credit union programs require a certificate.
Contact a local nonprofit. For Habitat homeownership in Snohomish County, contact Habitat for Humanity Snohomish County at homeownerservices@habitatsnohomish.org or 425-405-7765. For the Snohomish County DPA, contact a participating WSHFC lender.
Get pre-approved through a participating WSHFC lender. The Washington State Housing Finance Commission has a network of lenders trained on Home Advantage, HomeChoice, Opportunity, Veterans DPA, the Snohomish County DPA pairing, and Covenant Homeownership programs. Call the Washington Homeownership Hotline at 1-877-894-4663 to find one. WSECU and BECU originate WSHFC loans alongside their own grants.
Find a home within program price limits. WSHFC sales price limits in Snohomish County align with the conventional loan limit (well above $700,000 for 2026). Habitat homes are pre-priced below market and inventory is limited.
Submit your loan and DPA application. State and county DPA are processed alongside your mortgage application. Habitat applications follow their own intake cycles, so plan ahead.
Close on your home. Snohomish County and WSHFC DPA loans record as deferred second mortgages. Credit union grants apply as a credit on your closing disclosure.