How do I qualify… 1. Be the head of household and a first time homebuyer…
2. Be a low to moderate income resident…
3. Cannot have held residential real estate interest within three years prior to application…
4. Must be the purchaser’s primary residence and be inside the District of Columbia…
5. Have a good credit rating…
Note: You don’t need to be a DC resident to apply but DC residents always come first.
Up to $7,000 separate closing assistance is also available.
*You need $500 or 50% of liquid assets greater than $3,000
*Loan repayment begins in the sixth year of the loan and is amortized over 40 years.
*If you transfer the property, refinance the property or if the property does not remain your principal residence, the entire amount of the loan is due immediately….
To apply contact one of the following organizations…
Housing Counseling Services Inc 2410 17th St NW Washington DC 20009 202/667-7006-108
Marshall Heights Community Development Organization 3939 Benning RD NE Washington DC 20019 202/396-1200
Lydia’s House 3939 S Capitol St SE Washington DC 20032 202/373-1050
Latino Economic Development Corp 2316 18th St NW Washington DC 20009 202/588-5102-16
University Legal Services 220 I St NW St 130 Washington DC 20002 202/547-4747
University Legal Services 3232 Pennsylvania Ave SE St 4 Washington DC 20020 202/547-4747
*Note: Most Mortgage Lenders and Real Estate Agents have little if any HPAP knowledge. Be sure to choose a lender and REALTOR that understand the HPAP process. It will make your home purchase much more enjoyable…contact me al@matlockrealtor.com or call 301/452-2278.
