Get Smart With City Chic is a bi-weekly column giving you the real talk rundown on what’s happening with the D.C. real estate market. Sponsored and written by Lindsay Dreyer, the broker/owner of City Chic Real Estate.
Can you really buy a house with zero down?
Buying your first home can be exciting and scary. The most overwhelming part is figuring out how to finance your purchase and making sense of all your options.
The great news? D.C. has some awesome first time homebuyer programs available. Before we dive into specifics, let’s define a few terms.
- Down Payment: Upfront money to purchase a home.
- Closing Costs: Additional fees due at closing, above and beyond your down-payment, such as fees for an attorney, a title search, title insurance, taxes, lender costs and some upfront housing expenses such as homeowners insurance. Usually 3-4% of sales price.
- Transfer/Recordation Tax: Tax charged at closing by the city/county/state.
- Private Mortgage Insurance (PMI): What you usually pay when you put less than a 20% down payment. PMI insures the mortgage for the lender in the event that the borrower defaults.
Okay, get to it… show me the money! Here’s the lowdown on D.C.’s first time homebuyer programs.
PS — income and price limits change annually, so these numbers are for 2022.
- Overview: 30 year fixed, FHA or conventional loan where they give you 3-3.5% down-payment assistance. The down payment assistance is an interest free loan that is repaid when you sell, move out, or refinance.
- Income Limit: $154,800
- How to Apply: Through a participating lender











