Can You Buy a Home with Help from Washington’s Covenant Program? Here’s What You Need to Know
Buying a home has always been harder for some of us—and it's not by accident.
For years, Black families, Indigenous families, and other communities of color were locked out of homeownership because of unfair, discriminatory laws and practices.
But Washington State is working to make things right.
The Covenant Homeownership Program is a new opportunity that gives first-time homebuyers up to $150,000 toward a down payment and closing costs—with no interest on the assistance money.
If you’ve been dreaming about owning a home but didn’t think it was possible, this might be the help you’ve been waiting for.
Who Might Qualify for the Covenant Homeownership Program?
You could qualify if:
You’ve never owned a home before, or it’s been at least 3 years since you have.
You (or your parents, grandparents, or great-grandparents) lived in Washington State before April 1968.
Your family background includes one of the following groups:
Black or African American
Hispanic or Latino
Native American or Alaska Native
Native Hawaiian or Pacific Islander
Korean
Asian Indian
You make under about $156,000 a year for a family of four (this number varies a little depending on which county you live in).
You have enough income to qualify for a mortgage — even if you don’t make a lot.
How Much Help Can You Get?
Up to 20% of your home’s price—capped at $150,000—plus help with your closing costs.
0% interest on the down payment loan. (That means you pay back exactly what you borrowed, no extra.)
If you make under 80% of the area’s median income, your loan might even be forgiven after 5 years!
How Does Credit Work for This Program?
The Covenant Program itself doesn't require a minimum credit score.
But to get approved for your mortgage loan (the main loan you need to buy the house), most lenders want to see a credit score around 620 or higher.
If your credit is a little lower, don't panic—some programs work with scores down to 580, and some lenders will coach you on quick ways to raise your score.
✅ You don’t need perfect credit.
✅ You just need to start the conversation.
How Does the Interest Rate Work?
There are two pieces:
The Covenant loan (the down payment help) is 0% interest. No monthly payment. You repay it when you sell, move out, or refinance.
Your regular mortgage (from a lender) will have a normal interest rate—right now, around 6–7% depending on your credit and the lender.
Good news?
Because you're borrowing LESS money thanks to the Covenant Program, your monthly payment will likely be more affordable than if you had to save for a full down payment yourself.
Why This Program Matters
For too long, our communities were shut out of homeownership opportunities that build generational wealth.
This program helps close that gap.
If you’ve ever been told “you can’t”—this is your reminder that maybe you can.
Ready to Get Started? I Can Help.
If you're interested in buying a home through the Covenant Homeownership Program—or if you just want to learn more about whether you qualify—I would love to support you.
My name is Lynniah Grayson, and as a licensed real estate professional, I’m passionate about helping our communities break generational barriers through homeownership.
I can connect you directly to a lender who is approved to work with the Covenant Homeownership Program.
I will walk with you through the homebuying process—step by step.
I’m committed to making it simple and accessible for you.
Contact Me Today:
Email: Lynniah@nexthomeprolific.com
Let’s get you the keys to your new beginning.
Helpful Resources
Covenant Homeownership Program Website: https://www.wshfc.org/covenant/
Homeownership Hotline: 1-877-894-4663
Contact Me:
Lynniah Grayson
NextHome Prolific
Email: Lynniah@nexthomeprolific.com
License # 100102
