Commerce awards more than $63 million for affordable homeownership projects
Investment supports 621 affordable homeownership units
The Washington State Department of Commerce’s Homeownership Capital Programs is awarding $63,049,787 to 43 projects to create 621 first-time homebuyers across Washington.
The state funds are matched with $199,316,212 in additional public and private funds, a $3.16 to $1 ratio.
This investment supports the construction of affordable new homes, provides down payment assistance, and utilizes an affordability subsidy to create permanently affordable homes. The funding will create 621 new first-time homeowner opportunities.
Funds were awarded across the state:
- Rural: 42% of funding
- Urban: 40%
- King County: 9%
- Statewide: 9%
Organizations are also dispersed geographically:
- Eastern Washington: 12 organizations received $13.5 million
- Western Washington: 27 organizations received $44.6 million
- Statewide: Four organizations received $5 million
One registered by-and-for organization received $2 million, and two tribal organizations received a combined $2.5 million.
Commerce received 77 applications from 48 organizations in response to its funding opportunity announcement in fall 2025.
Homeownership Capital Programs offer Housing Trust Fund funding to create homeownership opportunities for income-eligible first-time homebuyers. For more information about HTF funding for first-time homebuyers, visit Housing Trust Fund Program webpage.
Questions?
Contact Kaylie Gladwell at [email protected].
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