Learn about Washington State Housing Finance Commission, including Homeownership Programs and The Team.
The Washington State Housing Finance Commission (WSHFC) is a publicly accountable, self-supporting team, dedicated to increasing housing access and affordability and to expanding the availability of quality community services for the people of Washington. This website concerns our issuance of single-family program bonds to support home loans to low- and moderate-income homebuyers across the state.
The WSHFC was created in 1983 by the legislature of the State of Washington (the State) to “act as a financial conduit which, without using public funds or lending the credit of the state or local government, can issue nonrecourse revenue bonds and participate in federal, state, and local housing programs thereby making additional funds available at affordable rates to help provide housing throughout the state.”
In addition to home loans and affordable multifamily housing, the state legislature later authorized the Commission to issue bonds to finance or refinance nursing homes and capital facilities owned and operated by nonprofit corporations, beginning farmers/ranchers, sustainable energy and energy efficiency retrofit programs.
The WSHFC has eleven voting members. Two commissioners, the state treasurer and the director of the Department of Commerce, serve ex officio. The chair of the WSHFC is appointed by and serves at the pleasure of the governor. The governor appoints the remaining eight members to four‐year terms, subject to confirmation by the Washington State Senate.
The WSHFC is legally separate from the State and does not impose a financial burden on, nor accrue any financial benefit to, the State. Legal restrictions on the Washington State legislature’s ability to impose its will on WSHFC and the inability of the governor to remove the majority of the voting members of the WSHFC prevent the State from being considered to be financially accountable for the WSHFC.