Down Payment Assistance in Edmonds, Washington (2026 Guide)

You've been watching your savings account do something infuriating: stay flat. Rent went up eighteen months ago and never came back down. Groceries cost more than they did two years ago. The raise happened — maybe even a good one — but the margin between income and expenses has a way of absorbing every dollar before it can become a down payment. You open a calculator, run the numbers on a home you could actually see yourself in, and the gap between what you have and what you need looks less like a savings problem and more like a structural one. That feeling is not unique to you, and it's not a sign you're doing something wrong. It's the defining financial reality for buyers in the Pacific Northwest in 2026.

Here's what changes the math: ONE+ by Rocket Mortgage. The buyer puts down 1%. Rocket Mortgage contributes 2% — up to $7,000 — as a grant. Not a deferred second mortgage that follows you to the closing table when you sell. Not a loan dressed up as assistance. A grant that disappears from the ledger the moment the deal closes. The buyer who was $10,000 short now needs a fraction of what they thought. ONE+ is not a first-time buyer program — repeat buyers qualify as long as income falls within the Snohomish County limit, which sits at $107,200. For buyers whose income or purchase price pushes them outside ONE+'s parameters, Washington's WSHFC Home Advantage program fills the gap with a $180,000 income ceiling and up to 5% in assistance — one of the most generous state-level programs in the country.

ONE+ does have a $350,000 loan ceiling, and in a market where Edmonds's citywide median sits at $855,381, that ceiling matters. For buyers shopping above it, Washington's state programs pick up where ONE+ leaves off. This guide covers both in full, compares them honestly, and helps you figure out which one fits your situation before you're sitting across from a listing agent.

ONE+ by Rocket Mortgage: Washington's Only True Grant

Every other down payment assistance program in Washington State — the WSHFC programs, the Snohomish County loan, HomeSight's layered options — works as a deferred second mortgage. You borrow the assistance money at low or zero interest, make no payments during the life of your loan, and then repay it when you sell or refinance. The help is real, but the obligation travels with you. ONE+ is structurally different in a way that matters: Rocket Mortgage contributes 2% of the purchase price as a grant, with no repayment attached, ever. The buyer contributes 1%. The result is a 3% down payment at closing, with two-thirds of it coming from Rocket — permanently.

The mechanics are clean. On a $350,000 purchase, the buyer brings $3,500 and Rocket contributes $7,000. That's the maximum grant amount, and it's the number that makes the program worth understanding before you look at anything else. The loan is a 30-year fixed conventional mortgage — no FHA complexity, no adjustable rates. The minimum credit score is 620. Income must be at or below $107,200 for Snohomish County (the HUD FY2026 80% AMI benchmark for this area). There is no first-time buyer requirement, which means a homeowner who sold a few years ago, relocated, rented for a stretch, and is now buying again qualifies on equal terms with someone buying for the first time. PMI applies until the loan reaches 20% equity, which is standard for low-down-payment conventional lending.

	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

The table above is the cleanest way to see the structural advantage. Both buyers arrive at closing with 3% down on the same home — but one of them produced $7,000 more of their own cash to get there. 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 →

The ONE+ Ceiling: What It Means for Edmonds Buyers

ONE+'s $350,000 maximum loan is a real constraint in Edmonds, and it's worth addressing directly rather than glossing over. The citywide median home value runs in the $855,000 range, and even the May 2026 median closed sale price of $716,500 sits well above the ONE+ ceiling. Single-family homes at or under $350,000 do not exist in Edmonds in the current market. What does exist in that price range is a narrow slice of the condo and attached-home inventory, concentrated almost entirely in the Madrona and South Edmonds area around the 98026 zip code.

Active inventory in the sub-$350K range in Edmonds typically looks like this: one-bedroom, one-bathroom condos around 650 square feet in the $290,000–$320,000 range, and the occasional two-bedroom, two-bathroom unit at $350,000. These are real homes with real value — ground-floor units with private patios, covered parking, and functional layouts — but buyers need to factor in HOA fees that often run $400 per month or more, which affects total affordability calculations meaningfully.

Price Range	What's Typically Available in Edmonds	ONE+ Eligible?
Under $320K	Studio and 1BR/1BA condos, 98026 zip, 600–700 sq ft	✅ Yes
$320K–$350K	1BR–2BR condos, South Edmonds/Madrona area	✅ Yes
$350K–$500K	Small condos, attached townhomes — no single-family	❌ Exceeds loan ceiling
$500K–$800K	Townhomes, entry-level detached SFR, select condos	❌ Exceeds loan ceiling
$800K+	Typical Edmonds SFR; Edmonds Bowl premium up to $1.35M median	❌ Exceeds loan ceiling

For buyers set on a single-family home anywhere in Edmonds, ONE+ is not the path. The program's ceiling aligns with the condo segment only, and buyers who want more space or a detached home should plan from the start around Washington's state-level programs, where no purchase price ceiling applies.

When You Need More: Washington's State DPA Programs

For buyers whose purchase price or income puts them outside ONE+'s parameters, Washington's WSHFC programs are among the strongest state offerings in the country. These programs don't provide grants — they work as deferred second mortgages — but the terms are favorable enough that they genuinely solve the cash-to-close problem for a wide range of buyers.

Home Advantage — The $180K Income Ceiling Program

The headline number here is the income limit: $180,000 statewide. This is not a low-income program. A dual-income household in Edmonds earning $160,000 qualifies. A single borrower earning $150,000 qualifies. The DPA comes as up to 5% of the first mortgage amount, structured as a 0% interest second mortgage with payments deferred for 30 years and $0 monthly payment on the DPA portion. No first-time buyer requirement applies. The program is compatible with conventional, FHA, VA, and USDA loan types, which gives buyers flexibility that ONE+'s conventional-only structure doesn't. One requirement does apply before closing: all borrowers must complete a WSHFC-approved homebuyer education seminar, which runs approximately five hours and is available online. The key structural reality to understand is that this assistance is a second lien — it gets repaid when you sell or refinance. It is not a grant.

House Key Opportunity — For Lower-Income First-Time Buyers

House Key Opportunity is a bond-funded program for first-time buyers — defined as someone who has not owned a home in the past three years. Income must be below $147,400 in Snohomish County. DPA goes up to $10,000 as a 1% interest, 30-year deferred second mortgage. Because the funding source is tax-exempt mortgage revenue bonds, there is IRS recapture tax potential if the home is sold within nine years and the borrower's income has grown significantly above the original qualifying limit. This risk affects a minority of buyers but is worth understanding before committing. The same five-hour education seminar applies.

HomeChoice — Disability Households

HomeChoice provides up to $15,000 in DPA for borrowers — or households that include a member — with a documented disability. The income limit in Snohomish County is $147,400, consistent with other WSHFC programs. The loan carries 1% interest, defers for 30 years, and requires one-on-one housing counseling before closing. It pairs with either Home Advantage or House Key Opportunity as the first mortgage.

Snohomish County DPA — Up to $50,000

Snohomish County administers its own DPA program through HomeSight, offering up to $50,000 as a 3% interest deferred loan for 30 years. First-time buyer status is required (no home ownership in the past three years). Snohomish County has allocated approximately $1 million in federal HOME Investment Partnerships Program funds for the 2026 program year. For buyers shopping at Edmonds price points, this program can meaningfully close a gap that smaller state programs cannot — $50,000 toward a $700,000 home represents real leverage, even structured as a deferred loan.

The structural comparison between ONE+ and every WSHFC or county program comes down to one thing: ONE+ is a grant. It costs the buyer nothing on the back end. Every state and county program described above defers the cost — it travels with the house until you sell or refinance. Both approaches solve the cash-to-close problem. The question is whether the buyer wants that money permanently off the books or deferred to a future transaction.

ONE+ vs Washington Bond Programs: The Direct Comparison

	ONE+ by Rocket	WSHFC Home Advantage	WSHFC House Key	Snohomish County DPA
Assistance type	True grant — no repayment	Deferred second loan	Deferred second loan	Deferred second loan
Max loan/assistance	$350,000 purchase	No ceiling	$10,000 DPA	$50,000 DPA
Income limit	≤$107,200 (Snohomish)	$180,000 statewide	$147,400 (Snohomish)	Varies
Cash at closing	✅ Up to $7,000 grant	✅ Up to 5% of loan	✅ Up to $10,000	✅ Up to $50,000
Repayment required	Never	Yes — at sale/refi	Yes — at sale/refi	Yes — at sale/refi
Recapture tax risk	None	None	Yes (3 conditions)	None
First-time required	No	No	Yes	Yes
Loan types	Conventional only	Conv, FHA, VA, USDA	Conv, FHA, VA, USDA	Varies
Who processes	Rocket Mortgage	WSHFC-approved lender	WSHFC-approved lender	HomeSight
Education required	No	Yes — 5-hour seminar	Yes — 5-hour seminar	Yes

When ONE+ clearly wins: the purchase price is under $350,000, the buyer's income is at or below $107,200, they want a clean grant with no repayment tail at sale, and they'd rather skip the five-hour seminar. For the condo buyer in South Edmonds who qualifies on income, ONE+ is the better deal — straightforwardly and without caveat.

When Home Advantage makes more sense: the purchase price exceeds ONE+'s ceiling, the household income falls between $107,200 and $180,000, or the buyer needs FHA or VA loan flexibility. For the vast majority of Edmonds buyers shopping for a single-family home, Home Advantage is the realistic path. The Snohomish County $50,000 program adds another layer for first-time buyers who need maximum cash-to-close help on higher purchase prices.

What ONE+ Looks Like at the Closing Table

Item	Amount
Purchase price	$340,000 (example condo)
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
Buyer's estimated total cash to close	~$9,900–$11,900

The buyer came up with $3,400 toward a down payment instead of $10,200. The $6,800 grant is the difference — and it never comes back. Closing costs exist regardless of which program you use; those numbers reflect the typical range for a Snohomish County purchase at this price point, covering title, escrow, county fees, and any prepaid items.

Does DPA Actually Work in Edmonds's Competitive Market?

The honest answer is: it depends entirely on what you're buying. For the condo buyer targeting South Edmonds inventory under $350,000, ONE+ works cleanly and competitively — these are not multiple-offer situations where cash buyers are pushing out financed offers. Ground-floor condos in the Madrona area move at a measured pace, sellers are accustomed to conventional financing, and a ONE+ offer with a pre-approval from Rocket is treated the same as any other conventional offer.

For buyers shopping in the $600,000–$900,000 range — which covers a substantial portion of Edmonds single-family homes — the dynamic shifts. Sellers in Edmonds's core neighborhoods, including the Edmonds Bowl and Westgate, do see competing offers on well-priced homes. DPA-assisted offers using Home Advantage are not automatically disadvantaged, but they add a layer of complexity that pure conventional buyers don't carry. The five-hour seminar requirement adds a processing step, and the second lien from WSHFC requires lender coordination. Working with a lender who regularly closes Home Advantage loans in Snohomish County matters more than the program itself.

The Snohomish County $50,000 DPA is worth investigating for first-time buyers stretching toward the $650,000–$750,000 range. On a $700,000 purchase, $50,000 in deferred assistance covers the difference between a 3% conventional down payment and the 10% many buyers feel pressured to put down to compete. It doesn't make a weak offer strong, but it preserves cash that would otherwise be locked into equity — cash that can fund inspections, reserves, and the inevitable first-year costs of Edmonds homeownership.

Local Expert Takeaway: For Edmonds buyers with household income under $107,200 who are shopping the condo market under $350,000 — particularly the South Edmonds and Madrona corridor — ONE+ is the cleanest option available: no repayment, no seminar, no second lien. For the more common scenario of a buyer targeting a single-family home in Seaview, Five Corners, or Meadowdale in the $650,000–$800,000 range, Home Advantage combined with the Snohomish County $50,000 program is the most powerful combination currently available. Get pre-approved before you start touring — sellers in Edmonds move fast on competitively priced homes, and a DPA pre-approval from a lender who knows these programs signals that you're serious and prepared.

Quick Takeaways & FAQs

✅ ONE+ by Rocket Mortgage offers a true $7,000 grant — the only non-repayable DPA option widely available to Edmonds buyers, but limited to purchases under $350,000, which means condos only in this market.

⚠️ Every WSHFC and Snohomish County program is a deferred loan, not a grant — real assistance, but it travels with the property until you sell or refinance.

📍 Snohomish County's $50,000 DPA through HomeSight is the most powerful tool for first-time buyers stretching toward Edmonds single-family home prices, and it's funded for the 2026 program year.

Is there down payment assistance in Edmonds, Washington?

Yes, Edmonds buyers have access to several programs. ONE+ by Rocket Mortgage provides up to $7,000 as a true grant for condos priced under $350,000. WSHFC Home Advantage covers purchases at any price with up to 5% in deferred DPA and an income ceiling of $180,000. Snohomish County also offers up to $50,000 through HomeSight for first-time buyers.

What is the income limit for Washington Home Advantage?

The WSHFC Home Advantage program carries a statewide income limit of $180,000 — one of the highest of any state DPA program in the country. A dual-income household in Edmonds earning $160,000 or $170,000 qualifies, making this program accessible to middle- and upper-middle-income buyers who are still facing the cash-to-close challenge at Edmonds price points.

What is the difference between ONE+ and WSHFC DPA?

ONE+ is a grant — Rocket Mortgage contributes 2% of the purchase price (up to $7,000) and that money is never repaid. WSHFC programs work as deferred second mortgages: the assistance is real and the monthly payment is $0, but the loan balance gets repaid when you sell or refinance. ONE+ is structurally cleaner on the back end; WSHFC programs cover higher purchase prices and a wider income range.

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