Updated · Mike Certo, NMLS #260555
Washington Mortgage Programs
Cornerstone First Mortgage originates Washington mortgages through Mike Certo and his team of seasoned Washington-licensed loan officers. Below is the full menu of programs we run for Washington buyers — each one explained briefly with the key facts. For program-specific eligibility, income limits, FICO requirements, or to talk through your scenario, request more information below or call (480) 296-6513.
Washington Down Payment Assistance
Cornerstone is approved for both Washington state-level DPA programs and the major national DPA options. We run the full menu — Washington State Housing Finance Commission (WSHFC) statewide programs plus national programs that work in Washington (Chenoa Fund, Arrive Home, Essex/NHF).
Washington state DPA programs
- WSHFC Home Advantage: Washington's flagship — a 30-year first mortgage open to first-time AND repeat buyers (income up to $215,000 statewide), paired with a DPA second of 3%, 4%, or 5% of the loan amount at 0% interest, deferred up to 30 years.
- WSHFC House Key Opportunity: Income-qualified first mortgage for first-time buyers (waived in targeted areas and for honorably discharged Veterans), with an Opportunity DPA second of up to $15,000.
- WSHFC Veterans Down Payment Assistance: Up to $10,000 for eligible Washington Veterans — deferred up to 30 years, repayable, and it can stack on a $0-down VA first mortgage to cover closing costs.
- Covenant Homeownership Program: Up to 20% of the purchase price (max $150,000) plus closing costs for eligible first-time buyers from communities harmed by covenant-era discrimination in Washington — income up to 120% of area median. As of spring 2026, your lender must obtain written Commission authorization BEFORE you go under contract; we run that step first.
- WSHFC HomeChoice: Up to $15,000 for buyers with a disability or a disabled household member — deferred up to 30 years.
- Bellingham DPA: City of Bellingham down payment assistance program.
National DPA programs (also available for Washington buyers)
- Chenoa Fund — FHA-paired DPA with both repayable and forgivable structures depending on income/credit profile.
- Arrive Home — national DPA for low-to-moderate income buyers, includes ITIN borrower path.
- Essex Mortgage / NHF — multi-tier DPA pairing for FHA, VA, USDA, and conventional buyers.
One WSHFC DPA second per loan — we match you to the one that nets the most help. Specific eligibility (income limits, purchase-price caps, FICO thresholds, occupancy, FTHB status) varies — request more information for your specific scenario.
Buy Before You Sell (BBYS)
Bridge financing for the move-up Washington buyer who needs to buy their next home before their current home sells. Removes the contingency from the offer — listing agents call this the deal-saver. Cornerstone's BBYS program lets the buyer write a clean offer; we underwrite the bridge based on equity in the existing home plus the new purchase.
- Common scenario: Contract Contingent on Buyer Sale (CCBS) deals where the seller doesn't want a contingent offer; BBYS removes the contingency.
- Process: We underwrite the bridge alongside the new purchase mortgage; close concurrently or near-concurrently.
- Audience: Consumer move-up buyers AND industry listing agents who want their CCBS deal to actually close.
Self-Employed Loans
Tax returns underrepresent self-employed income because of legal deductions. Standard mortgage underwriting punishes that. We run the alternative paths for Washington self-employed buyers: bank-statement loans (12 or 24 months), 1099 loans, and asset-qualifier loans (qualify on liquid assets without showing income).
- Bank statement loans: Qualify on 12 or 24 months of business bank deposits with expense-factor adjustments — not deposit gross.
- 1099 loans: For contractors, gig workers, real estate agents, and other 1099-only earners — qualify on documented 1099 income.
- Asset-qualifier loans: Qualify on liquid assets (cash, brokerage, retirement) divided over an asset-utilization period.
Jumbo & Medical Professionals
Loan amounts above the conforming limit ($832,750 across most of Washington; $1,063,750 in the King, Pierce, and Snohomish high-cost counties) — full doc, alt doc, super jumbo (above $2M), plus the standout Medical Professionals program. Up to 100% LTV with NO PMI for physicians, dentists, and a specific list of credentialed medical roles. Washington has substantial jumbo markets in Seattle metro (Bellevue, Mercer Island, Medina, Kirkland) and around Microsoft/Amazon corridor, and Medical Professionals is a frequent Washington path for doctors at UW Medicine, Virginia Mason Franciscan Health, Swedish Medical Center, and Providence Health & Services.
- Medical Professionals eligible: MD, DO, DDS, DMD, DPM, DVM, PharmD, Ophthalmology MD/DO, Psychiatry MD/DO, CRNA with DNAP/DNP.
- Up to 100% LTV at $1.5M with FICO 680; 100% at $2M with FICO 720; 95% at $2M with FICO 680.
- Student loan exclusion: Deferred and IBR student loans excluded from DTI for residents and fellows on resident/fellow income.
Investor & DSCR Loans
For real estate investors buying Washington rental property. DSCR loans qualify on the rental income of the property — not your personal income. We finance below a 1.0 DSCR ratio — sub-1.0 programs are part of our investor menu. Short-term rental specific products available for Washington Airbnb / VRBO markets.
- DSCR loans: Qualify on the rental income vs the property's debt service — not personal income.
- Below 1.0 DSCR: We finance sub-1.0 scenarios — request more information for your specific deal.
- Short-term rental specific: Airbnb / VRBO-targeted DSCR products with experienced underwriting for STR income.
First-Time Home Buyer Loans
FHA, USDA, conventional with low down payment, and Washington DPA-paired structures. Designed for the Washington buyer with real-life income and credit — not a perfect-paper applicant.
- FHA: 3.5% down, 580+ FICO published (620+ practical overlay).
- USDA: Zero down in USDA-eligible Washington areas.
- Conventional 97: 3% down, 620+ FICO.
Find the program that fits
Call (480) 296-6513 for a free consult, or send your scenario through the form below. Mike and his team review every Washington scenario and respond within one business day — no commitment, no salesy follow-up, just an honest read on what’s possible.