One of the biggest obstacles first time home buyers face is coming up with the down payment on the loan which can be in the tens of thousands of dollars.
The good news is that there are numerous down payment assistance programs available in the D.C. metro area that provide grants and/or no interest loans to help with down payments. The programs do come with some income restrictions, but the caps have risen steadily over the years making the programs available to a wider segment of buyers.
Here are the most common down payment assistance programs:
- DC Open Doors: D.C. sponsored zero percent interest loan program that offers qualified buyers home purchase loans and down payment assistance. Maximum income limit is $151,200 with a maximum 1st trust loan limit of $548,250. No purchase price limit. D.C. purchases only.
- Employer Assisted Housing Program (EAHP): Offers up to $5,000 matching down payment grant plus a deferred loan of $20,000 for closing costs and down payment. Buyer must be a full time D.C. government employee and for D.C. purchases only.
- Home Purchase Assistance Program (HPAP): $80,000 maximum assistance towards down payment based on family size and income level. Additional closing cost assistance available up to $4,000. Maximum 1st trust loan limit of $510,400. D.C. purchases only.
- Maryland Mortgage Program (MMP): Multiple Maryland programs including grants up to 4% of the loan amount, 0% interest deferred loans up to $25,000, student debt payoff and below market interest options. Maryland purchases only.
- Virginia Housing Development Authority (VHDA): Multiple Virginia programs including grants for down payment and closing cost assistance up to 2.5% of the sales price, 0% interest deferred loans and below market interest options. Virginia purchases only.
Real estate markets are hyper-localized. If you want to know what the market looks like in your neighborhood, reach out and consult one of our Realtors. Or learn more ways for Buyers to get an edge on our Home Buyer Tips Blog.
Recent Stories
photo by Mr.TinMD From NPS: “The National Park Service (NPS) and National Links Trust (NLT) will rehabilitate Rock Creek Park Golf Course, one of the oldest public golf courses in…
Thanks to John for sending this “Vintage Chrysler 300. 1969?” Sweet City Ride is made possible by readers like you!
Photo by rockcreek Ed. Note: If this was you, please email [email protected] so I can put you in touch with OP. “Dear PoPville, I see the a girl at the…
If you have any animal/pet photos you’d like to share please send an email to princeofpetworth(at)gmail(dot)com with ‘Animal Fix’ in the title and say the name of your pet and…
Unlike our competitors, Well-Paid Maids doesn’t clean your home with harsh chemicals. Instead, we handpick cleaning products rated “safest” by the Environmental Working Group, the leading rating organization regarding product safety.
The reason is threefold.
First, using safe cleaning products ensures toxic chemicals won’t leak into waterways or harm wildlife if disposed of improperly.
Looking for something campy, ridiculous and totally fun!? Then pitch your tents and grab your pokers and come to DC’s ONLY Drag Brunch Bingo hosted by Tara Hoot at Whitlow’s! Tickets are only $10 and you can add bottomless drinks and tasty entrees. This month we’re featuring performances by the amazing Venus Valhalla and Mari Con Carne!
Get your tickets and come celebrate the fact that the rapture didn’t happen during the eclipse, darlings! We can’t wait to see you on Sunday, April 21 at 12:30!
Frank’s Favorites
Come celebrate and bid farewell to Frank Albinder in his final concert as Music Director of the Washington Men’s Camerata featuring a special program of his most cherished pieces for men’s chorus with works by Ron Jeffers, Peter Schickele, Amy
Cinco de Mayo Weekend @ Bryant Street Market
SAVE THE DATE for Northeast DC’s favorite Cinco de Mayo celebration at Bryant Street NE and Bryant Street Market!
Cinco de Mayo Weekend Line up:
Friday, May 3:
