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. The program remains active, but its legal and funding status is volatile, including a 2026 federal fair-housing review, so we confirm current status and your eligibility with WSHFC before you rely on it.
- 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. See the full Washington first-time home buyer breakdown for income limits, 2026 loan limits, and the escrow-state closing rules.
- 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 shortly, no commitment, no salesy follow-up, just an honest read on what’s possible.