Frazer Court
Redmond
 

The Enclave
Issaquah Highlands
 

Fairwind
Bellevue   

Update Items:

House Key Plus ARCH East King County Downpayment Assistance Program available for 1st time homebuyers.  Click here for more information.

Home Ownership Program

ARCH has several below market rate duplexes, condominiums and town homes located in various developments in East King County.  During the initial marketing period, maximum income levels are established for buyers. Typically, each development will establish a maximum income for buyers somewhere between 80% and 100% of median income. In addition, maximum income guidelines are often adjusted for both household and unit size. 

Click here to view homes for sale   

REQUIREMENT: To be added to the mailing list, you must complete a homebuyer education class that is endorsed by the Washington State Housing Finance Commission.   Upon class completion, please mail/fax the class certificate to ARCH to be placed on the ARCH mailing list.  You can get a complete schedule of home buying classes here: http://www.wshfc.org/buyers/schedule.asp or by calling 1 (800) 767-4663.

Homeowner Provisions

• Homes must be owner-occupied

• Future resale prices are set by a formula based on the original sales price plus index appreciation. The appreciation index for each development is fixed. Currently, all homes are re-priced based on one of three indexes; CPI (Consumer Price Index-housing), REI Seattle/Everett Real Estate Report (Mean Sales of Eastside Cities), or HUD Seattle/King County Median Income.
• First priority for future buyers are households with incomes at or below appropriate income guidelines.
• When an owner wishes to sell, the city has a first right of refusal to buy the unit or to assign that right to a qualified buyer. After the initial period, certain cities may no longer have a first right of refusal and buyer does not have to meet the household income and size guidelines. However, the maximum sales price remain unchanged, and the city retains the right to approve the sale. An assumption by the prospective buyer must be executed and recorded at the time of purchase.
• If a lender assumes a mortgage due to default, the resale control agreement is waived.
• Future resale prices may be increased if significant home improvements have been made. Deferred maintenance may also cause future sale price to be reduced.
• Interested buyers are highly encouraged to read the entire Resale Control Agreement prior to acquiring a home under this program.

Interested?  Fill out an application to be on our mailing list and receive information regarding available units.