Washington, DC Homebuyer Resources
Washington, DC Resources
Down Payment Assistance Programs
DC Open Doors makes homeownership in Washington, DC affordable by offering qualified buyers home purchase loans, down payment and closing cost assistance. The program offers deferred repayable loans for a homebuyer’s minimum down payment requirement in addition to below-market interest rates for first trust mortgages for the purchase of a home in the District of Columbia. Qualified first-time and repeat homebuyers are eligible for the program.
The Employer-Assisted Housing Program (EAHP) offers eligible District government employees a deferred, 0% interest loan and a matching funds grant for down payment and closing costs to purchase their first single family home, condominium, or cooperative unit in the District.
The Home Purchase Assistance (HPAP) program provides interest-free loans and closing cost assistance to qualified applicants to purchase single-family houses, condominiums, or cooperative units. The loan amount is based on a combination of factors, including income, household size, and the amount of assets that each applicant must commit toward a property’s purchase. The loan is subordinate to a private first trust mortgage.
- Provides 30-year fixed-rate home loans to eligible homebuyers purchasing in Maryland
- Loan terms are competitive with other home loan products on the market
- They offer a range of associated financial incentives and other assistance
- MMP down payment assistance can only be obtained with an MMP first mortgage; it is not a standalone option.
- There are purchase price limits and limited funds.
- If you are a first-time home buyer, you could be eligible for up to $10,000 in down payment and closing cost toward the purchase of your first home.
The Housing Opportunities Commission (HOC) is committed to making home ownership in Montgomery County affordable by offering qualified buyers home loans and down payment/closing cost assistance.
Virginia Housing offers a variety of affordable home mortgages. All are 30-year fixed rate loans. Some don’t require any downpayment; some allow for lower credit scores; and some offer an MCC to help reduce federal taxes. All loans have maximum income and sales price limits and/or loan limits, which vary according to where the home is located.
- For first-time buyers purchasing in Arlington
- Provides a deferred-payment, no-interest loan of up to 25% of the home purchase price
- Loan may be used to cover a portion of the down payment and all closing costs
- The MIPAP loan acts as a 2nd Mortgage. The 1st Mortgage must be a conventional loan from a lender approved by VHDA (Virginia Housing Development Authority)
City's Financial Assistance
The funding sources for the City's FHAP financial assistance are:
- The federal HOME Program - Community Development Block Grant (CDBG) Program
- City’s Housing Trust Fund (HTF) Except in limited circumstances, the maximum assistance to the homebuyer is $50,000 provided as a no-interest, equity share loan.
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