Often the biggest barrier for first-time home-buyers in first-time home-buyers in Washington is the down payment. Traditional banks typically require 20% down. In Seattle, the median home value is a whopping $829K million, where a 20% down payment equates to $165,800.


3.5% Down, No PMI

Available in the back-half of 2022, SELFi is enabling Washington State home-buyers to purchase condos and single family residences with only 3.5% down with loan amounts up $1.5 million. There is no private mortgage insurance (PMI) required. On a $1.5 million purchase, the down payment is only $52,500.

“SELFi started with a simple idea: to offer the absolute lowest interest rates. That's it.”

Program Specifics

The mortgage program is only available to applicants who are buying a primary residence and the minimum credit score is 700.  For loan to $1.75 million, the minimum down payment is 5% down. Additionally, applicants should have a debt-to-income ratio below 40% and 12-24 months of reserves.

One appraisal is only required when the loan amount is below $1.5M. For loan amounts above $1.5M, two appraisals are required.


30 Year Fixed or 7/1 ARM

Interest rates are highly competitive for both 30 year fixed mortgages and 7/1 adjustable rate mortgages.


Opening the Door for New Homeowners

With only 3.5% down required, SELFi is opening the door to home-buyers who would otherwise be shut out of the competitive housing marketing. This is particularly true for high income first-time home-buyers but do not want to wait to save 20% down and fear being priced out of the market amid rising home prices.

Contact us if you’d like to get pre-qualified with a SELFi Mortgage Coach. 


7 Steps to SELFi

You can now buy $1.55 million condo with only 3.5% down.

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