First-Time Home Buyer Programs in Lakewood, WA (What You May Qualify For in 2026)

If you’ve been searching for first-time home buyer programs in Lakewood, WA or wondering how people are buying homes with limited savings or even no money down, you’re not alone. Many first time buyers, especially military families relocating to JBLM and first-time homeowners are surprised to learn just how many assistance programs are available in our area.

I’m Lavita Lester-Brinkley, Realtor® with Windermere Central Sound, and I help buyers throughout Lakewood, Tacoma, and Pierce County navigate financing options and home buying strategies every day. This guide explains some of the most common programs local buyers have used to help then buy a home. These programs can often make homeownership a reality, sooner than you think, even with limited cash or savings and less than perfect credit.

Who Counts as a First-Time Home Buyer in Washington?

For many WA programs, a first-time home buyer is defined as someone who has not owned a primary residence within the last three years. There are some exceptions to help individuals who may have had an ownership interest within the last three years. That means even previous homeowners may still qualify for assistance depending on their situation.

Many programs also consider:

Household income (income limits up to $215,000)
Credit score
Debt-to-income ratio
Property location and price limits

By partnering with a knowledgeable lender and realtor you can decide which programs are best for your specific circumstance.

Washington State Housing Finance Commission (WSHFC) Programs

One of the most widely used resources for Lakewood buyers is the Washington State Housing Finance Commission. They offer several programs that combine affordable loans with down payment assistance.

Common WSHFC Options May Include:

Down Payment Assistance loans
Home Advantage Program
House Key Opportunity Program for moderate-income buyers
Programs for buyers using FHA, VA, or conventional loans
Covenant Homeownership Program

These programs can help cover upfront costs such as down payment and sometimes even closing costs, which frequently comes as quite a relief to many first time homebuyers. I’ve found most buyers are acustomed to paying rent and are prepared to make monthly mortgage payments but have concerns about the out of pocket costs associated with buying a home, feeling like they haven’t saved enough.

FACT: You do NOT need 20% down to buy a home.

Many of these programs require homebuyer education to help prepare you for homeownership. You can visit the WSHFC website to find available homebuyer education. I’ve personally been teaching these classes since 2023 and highly reccomend taking a WSHFC sponsored homebuyer seminar as a first step in the homebuying process for WA homebuyers.

VA Loans for JBLM Military Buyers

Because Lakewood is conveniently located near Joint Base Lewis-McChord and home to the American Lake VA Medical Center, I see many buyers use VA loans. These loans are designed for eligible service members, veterans, and even some military spouses.

Key benefits may include:

Little to no down payment
Competitive interest rates
Flexible credit requirements

Military households who’ve been called to PCS to JBLM, retiring or relocating to the Lakewood area often find this option to be one of the most accessible paths to homeownership.

FHA Loans for First-Time Buyers

FHA loans remain a popular option for buyers who may not have large savings or perfect credit, and typically allow:

Lower down payments
More flexible credit standards
Competitive interest rates

Often Lakewood first-time buyers begin their homeownership journey using FHA financing.

Local Grants and Assistance Programs

Some local programs occasionally offer additional support for first-time buyers and homeowners. Availability changes frequently, so working with a Realtor and lender who stay current on Lakewood and Pierce County programs is essential.

These programs may help with:

Down payments
Closing costs
Maintenance and home repair costs.

Why Work With a Local Lakewood Realtor When Using Assistance Programs?

Not every seller or seller’s agent understands all financing structures. As a local Realtor who regularly works with first-time buyers, I can help you:

Identify homes that qualify for various loan programs – Not all homes are created equal when it comes to financing options!
Structure competitive offers
Navigate inspection and appraisal requirements

Local knowledge, coupled with experience successfully helping buyers purchase homes using Down Payment Assistance, FHA or VA loan types is important.

Ready to Explore First-Time Buyer Options in Lakewood?

If you’re curious if you qualify for first-time home buyer programs in Lakewood, WA, I’m here to help you explore your options.

I’m Lavita Lester-Brinkley, Realtor® with Windermere Central Sound, and I specialize in helping first-time buyers, military families, and relocating homeowners navigate the Lakewood and Tacoma real estate market with confidence.

➡️ Contact me today to discuss your goals and get connected with trusted local lenders.