Puget Sound · Washington
Down Payment Assistance in Des Moines (2026)
You've been doing the math for a while now. Every time you get close, something shifts — rent goes up, the car needs work, the grocery bill is quietly 30 percent higher than it was two years ago, and the raise that felt significant in January looks different by March. The savings account isn't empty, but it's not where it needs to be either. The goalposts keep moving because the market keeps moving, and the number you were targeting eighteen months ago isn't the number anymore. That's not a personal failure. That's what saving for a down payment actually feels like in 2026.
Here's what changes the math: ONE+ by Rocket Mortgage. The structure is straightforward — the buyer puts down 1% of the purchase price, and Rocket Mortgage contributes 2% as a grant, up to $7,000. Not a second mortgage. Not a deferred loan that follows you to the closing table when you sell in seven years. A grant, with no repayment, ever. For a buyer who was $10,000 short, that changes the equation entirely. And unlike most DPA programs, ONE+ doesn't require you to be a first-time buyer — repeat buyers qualify, as long as household income falls at or below the King County limit of $114,800. For buyers whose income sits above that ceiling, Washington's WSHFC Home Advantage program — with its unusually generous $215,000 income limit — picks up where ONE+ leaves off.
The catch with ONE+ is the purchase price ceiling. The program caps at a $350,000 loan, and in Des Moines, that number requires a candid conversation about what's actually on the market. For buyers shopping above that ceiling, Washington's state-level programs are strong, well-structured, and genuinely worth understanding. This guide walks through both paths, compares them directly, and helps you figure out which one matches where you are.
Every other down payment assistance option in Washington works the same way at its core: you borrow money at low or zero interest, defer the payments, and repay it when you sell or refinance. The cost is real — it's just deferred. ONE+ is structurally different from all of them. Rocket Mortgage contributes 2% of the purchase price as a grant. Not a second lien. Not a forgivable loan with conditions. A grant — the money is gone the moment it's applied to your down payment, and you will never repay it.
The mechanics are clean. The buyer brings 1% of the purchase price; Rocket Mortgage contributes 2%, up to $7,000. At closing, the buyer has 3% equity in the home. The grant portion carries no repayment obligation, no recapture risk, and no paperwork tail at resale. The loan itself is a 30-year fixed conventional mortgage — not a specialty product. The income limit for King County is $114,800, which covers a meaningful share of Des Moines households, particularly individual earners and smaller households. Credit minimum is 620. PMI applies until the loan reaches 20% equity, the same as any low-down-payment conventional loan. No first-time buyer requirement — if you owned before, you're still eligible.
| ONE+ by Rocket Mortgage | Standard 3% Conventional | |
|---|---|---|
| Buyer's down payment | $3,500 (on $350K home) | $10,500 (on $350K home) |
| Grant from Rocket | $7,000 — never repaid | None |
| Total down at close | $10,500 (3%) | $10,500 (3%) |
| Net cash out of pocket | $3,500 + closing costs | $10,500 + closing costs |
| Upfront savings | $7,000 | — |
| Repayment required | No | N/A |
Todd is an Executive Loan Officer at Rocket Mortgage and can pre-approve you for ONE+ the same day. Learn more about ONE+ and see if you qualify →
ONE+'s $350,000 loan limit is the honest constraint to address before anything else. In most of Washington's smaller or inland markets, $350,000 puts a buyer in genuine single-family home territory. In Des Moines, it doesn't. The city's median sold price for single-family homes over the last six months sits at approximately $625,500, and even the broader all-types median — including condos and co-ops — runs above $530,000. The $350,000 ceiling puts the ONE+ purchase price somewhere around $361,000 after accounting for the 3% down, and at that price point in Des Moines, the inventory picture is thin.
What actually exists near or under $350,000 in Des Moines is almost entirely condos and co-ops — many of them located in buildings near the marina or along the Pacific Highway corridor. Some of those condos are conventional-financeable and would be eligible for ONE+. Others are non-warrantable, which would disqualify them from conventional financing regardless of program. The short version: there are no detached single-family homes available at this price point in current Des Moines inventory, and buyers focused on a house rather than a condo will find ONE+'s ceiling limiting.
| Price Range | What's Typically Available in Des Moines | ONE+ Eligible? |
|---|---|---|
| Under $320K | Condos, co-ops, some dated units — very limited inventory | Yes, if conventionally financeable |
| $320K–$350K | Condos; occasional small/dated attached units | Yes, if conventionally financeable |
| $350K–$500K | Entry-level single-family homes, smaller lots, older construction | No — above ONE+ loan limit |
| $500K+ | The core Des Moines single-family market; most of the inventory | No — WSHFC is the path here |
For buyers whose purchase price or income puts them outside ONE+'s parameters, Washington's WSHFC programs represent some of the strongest state-level tools in the country. They're structurally different from ONE+ — these are deferred loans, not grants — but they're designed to solve the same problem: not enough cash at closing.
The defining feature of WSHFC Home Advantage is its income limit: $215,000 household income, statewide. That number reframes who this program is for. A dual-income household in Des Moines earning $160,000 qualifies. A buyer making $190,000 qualifies. This is not a low-income program — it's a cash-to-close program for middle and upper-middle income buyers who have strong income but haven't yet built the savings to match Des Moines home prices.
The DPA component comes as a second mortgage of up to 4–5% of the first mortgage loan amount, at 0–1% interest, with payments deferred for 30 years and no monthly payment on the DPA portion. The money is due when you sell, refinance, or pay off the first mortgage. Home Advantage is compatible with conventional, FHA, VA, and USDA loans — giving buyers flexibility that ONE+'s conventional-only structure doesn't. There is no first-time buyer requirement. A WSHFC-approved 5-hour homebuyer education seminar is required before closing, but online options are available and straightforward to complete.
House Key Opportunity layers additional assistance — up to $15,000 — on top of a qualifying first mortgage, but it comes with tighter constraints. First-time buyer status is required. Income limits are lower and vary by household size and county. The program is bond-funded, which introduces IRS recapture potential: if you sell within 9 years and your income has grown significantly alongside a capital gain, a partial recapture of the federal mortgage interest tax benefit is theoretically possible. This doesn't affect most buyers, but it's worth understanding before choosing this path.
For borrowers or households where a member has a disability, HomeChoice provides up to $15,000 in DPA at 1% interest, deferred for 30 years. Income limits in King County are $147,400. This program pairs with WSHFC Home Advantage or House Key Opportunity and is one of the least-advertised but most valuable tools in the state's inventory.
Worth a specific mention for buyers who qualify: the Covenant Homeownership Program provides zero-interest DPA to buyers from communities historically excluded from homeownership through racially restrictive covenants — Black, Native American, and other historically underserved populations. For buyers at or below 80% AMI, the assistance can be forgiven after five years of continuous primary residence. When stacked with Home Advantage, the total assistance in high-cost King County areas can reach $40,000 to $50,000 or more. If this applies to your household, it belongs at the top of your conversation with a WSHFC-approved lender.
The structural difference from ONE+ bears repeating: every WSHFC program listed here creates a second lien on your property. That lien gets repaid when you exit — through sale, refinance, or payoff. Both ONE+ and WSHFC programs solve the cash-to-close problem. ONE+ costs you nothing on the back end. WSHFC programs defer the cost until you exit. For buyers who plan to stay in a home for ten or more years, the deferred repayment is manageable. For buyers who expect to move or refinance within five years, the repayment timing matters more.
| ONE+ by Rocket | WSHFC Home Advantage | WSHFC House Key | |
|---|---|---|---|
| Assistance type | True grant — no repayment | Deferred second loan | Deferred second loan |
| Max loan | $350,000 | No ceiling | No ceiling |
| Income limit | ≤$114,800 (King Co.) | $215,000 statewide | Varies by county |
| Cash at closing | ✅ $7,000 grant | ✅ 4–5% of loan | ✅ Up to $15,000 |
| Repayment required | Never | Yes — at sale/refi | Yes — at sale/refi |
| Recapture tax risk | None | None | Yes (if 3 conditions met) |
| First-time required | No | No | Yes |
| Loan types | Conventional only | Conv, FHA, VA, USDA | Conv, FHA, VA, USDA |
| Who processes | Rocket Mortgage | WSHFC-approved lender | WSHFC-approved lender |
| Education required | No | Yes — 5-hour seminar | Yes — 5-hour seminar |
When Home Advantage makes more sense: the purchase price is above ONE+'s ceiling — which describes the majority of Des Moines single-family homes — or household income falls between $114,800 and $215,000. Buyers who need FHA or VA financing also need to use Home Advantage, since ONE+ is conventional only. For the typical Des Moines buyer shopping for a house in the $450,000–$600,000 range, Home Advantage is the realistic DPA path, and it's a strong one.
In Des Moines, where you buy matters as much as what you pay. Homes in the Marina District and Woodmont tend to hold their value well due to walkability and water proximity, and when something desirable comes up — especially under $750,000 — it rarely sits more than a few days. Zenith and Central Des Moines are also worth watching, as buyers using down payment assistance programs can still compete in those areas without stretching into higher price tiers. Understanding how assistance funds interact with your loan type is key, because not every program pairs with every property situation.
That's exactly why I encourage buyers to talk with a lender before they ever walk through a front door. Down payment assistance sounds straightforward, but your full monthly obligation — loan structure, taxes, insurance, and any HOA dues — can look very different from what an online calculator suggests. Getting pre-approved helps you find a comfortable payment, not just the maximum you qualify for, so when the right home appears in a competitive neighborhood, you're ready to move with confidence.
| Item | Amount |
|---|---|
| Purchase price | $340,000 (example) |
| Buyer's 1% down | $3,400 |
| Rocket's 2% grant | $6,800 — never repaid |
| Total down payment | $10,200 (3%) |
| Estimated closing costs | $6,500–$8,500 (varies by lender credits, title, county) |
| Buyer's estimated total cash to close | ~$9,900–$11,900 |
Des Moines is not the frenzied multiple-offer environment it was in 2022, but it's not a buyer's market either. Inventory sits at under two months of supply, homes are receiving an average of two offers, and the median days on market runs around 52. In that environment, DPA-assisted offers are not unusual — sellers in this price range are often flexible on terms when the financing is solid, and both ONE+ and WSHFC Home Advantage are conventional or government-backed products that underwrite predictably.
The honest reality for ONE+ specifically: most of Des Moines's available housing inventory sits above the $350,000 purchase ceiling. The Marina District, North Hill, Woodmont, and the central neighborhoods where families tend to buy are predominantly priced in the $450,000–$650,000 range. ONE+ is most relevant for buyers targeting condos in the Pacific Highway corridor or near the marina, where units occasionally list in the $280,000–$340,000 range. For buyers working with a WSHFC Home Advantage loan — which carries no purchase price ceiling — the program is fully functional in Des Moines's core market and is accepted by sellers without hesitation.
If you are a first-generation buyer, a buyer from a historically underserved community, or a household with a disability, the stacking potential through WSHFC's layered programs means cash-to-close assistance in Des Moines could be substantially higher than a single program's headline number suggests. The Covenant Homeownership Program in particular can fundamentally change the financial picture for qualified buyers in King County. Run those numbers before assuming a house in Des Moines is out of reach.
Local Expert Takeaway: For most Des Moines buyers shopping for a single-family home, WSHFC Home Advantage is the realistic DPA path — ONE+'s $350,000 loan ceiling puts it out of reach for the majority of houses on the market here. Where ONE+ shines is for buyers targeting condos or attached units in the $290,000–$350,000 range who want a true grant with zero repayment tail. If your household income is above $114,800 but under $215,000 — which describes a significant share of Des Moines buyers — go straight to Home Advantage. And if you're near the 80% AMI threshold and have any connection to the Covenant Homeownership Program eligibility criteria, get that conversation in front of a WSHFC-approved lender before you make any offers.
✅ ONE+ by Rocket Mortgage is the only true grant available in Washington — 2% of the purchase price up to $7,000 with zero repayment, ever. For Des Moines buyers targeting a condo or attached unit under $350,000, it's the best-structured DPA product in the state.
⚠️ ONE+'s $350,000 loan ceiling is a real constraint in Des Moines. The city's median sold price for single-family homes runs well above that threshold. Most house-buyers here will need to work with WSHFC Home Advantage instead.
📍 WSHFC Home Advantage's $215,000 income limit makes it accessible to most Des Moines households. Even dual-income buyers earning well above the median qualify — and the Covenant Homeownership Program can stack significantly more assistance for eligible buyers in King County.
Is there down payment assistance in Des Moines, Washington?
Yes — Des Moines buyers have access to both ONE+ by Rocket Mortgage (a true grant program for homes under $350,000) and Washington's WSHFC Home Advantage program (a deferred second mortgage with a $215,000 income ceiling and no purchase price cap). For most single-family home purchases in Des Moines, Home Advantage is the primary path given typical price points, while ONE+ is most useful for buyers targeting condos or attached units in the lower price range.
What is the income limit for Washington Home Advantage?
The WSHFC Home Advantage program has a statewide household income limit of $215,000 — one of the highest income ceilings of any DPA program in the country. There is also a separate needs-based DPA layer within the program with a lower threshold of $157,100 for King and Snohomish County households, but the primary Home Advantage program itself is broadly accessible to middle and upper-middle income buyers.
What is the difference between ONE+ and WSHFC DPA?
The core structural difference is grant versus loan. ONE+ provides a 2% contribution from Rocket Mortgage that never has to be repaid — once applied at closing, that money is gone with no strings attached. Every WSHFC program, including Home Advantage, works as a deferred second mortgage: the balance is due when you sell, refinance, or pay off the first loan. Both solve the cash-to-close problem. ONE+ costs nothing on the back end; WSHFC programs defer the cost to exit.
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