In order to best help you decide which programs you may be able to take advantage of, feel free to schedule a time to meet with us and discuss.
Home Purchase Assistance Program (HPAP)
The Home Purchase Assistance Program (HPAP) enables lower-and moderate-income individuals and families to purchase affordable housing in Washington, D.C. Qualified HPAP applicants can receive up to $44,000 in financial assistance to purchase single-family houses, condominiums and cooperative apartments. HPAP funds can be used for down payment and/or closing costs. The HPAP Purchase Assistance is in the form of low interest 5 year deferred loan. Click here or contact us for more information about whether you may be eligible and how to apply.
DC Government Employer Assisted Housing Program (EAHP)
The Employer Assisted Housing Program (EAHP) provides assistance to employees of the DC Government who are purchasing a home for the first time. There are no income restrictions but you must be employed by the DC Government for a minimum of one year. Employees may be eligible for matching down payment funds up to $1,500 and a deferred loan of up to $10,000. To learn more click here or contact us directly.
Negotiated Employee Affordable Home Purchase Program (NEAHP)
The Negotiated Employee Affordable Home Purchase Program (NEAHP) provides down payment and/or closing cost assistance to certain DC Government employees whose position is covered by specific collective bargaining agreements. Grant assistance levels range between $3,000 and $26,500, depending on the union member's years of service. For more information, including a list of participating unions, click here.
DC Housing Finance Agency’s DC Bond Program
The DC Bond Single Family Mortgage Program offers a 30 year, fixed rate mortgage and includes up to $10,000 in down payment and closing costs assistance when available. The program provides the opportunity for qualified applicants to purchase homes, condominiums, or cooperative units and qualified applicants may be eligible for financial assistance to meet down payment and closing costs needs. You can find more information at DC Housing Finance Agency. To find out if you qualify for DC Bond, ask your lender if they participate or contact us for a lender recommendation.
City First Homes
City First Homes is a nonprofit organization that offers a 23% purchase assistance grant based on the sales price of your new home. The grant program only applies to properties in the City First Homes portfolio. City First is a shared appreciation program and is committed to providing affordable housing opportunities in the District. For more information and to sign up for an informational session, visit www.cfhomes.org.
NACA Homeownership Program
The NACA Homeownership Program offers a no down payment, no closing costs, and no fee mortgage product. The NACA mortgage is unique in that everyone receives the same terms regardless of credit worthiness and offers below market interest rate loans. To sign up for NACA workshop & speak with a NACA mortgage consultant, visit www.naca.com.
Maryland Mortgage Program
Maryland Mortgage Program provides a competitive 30 year, fixed rate CDA mortgage and in conjunction offers their DSELP program which includes $5,000 in downpayment and closing cost assistance for first time buyer in Maryland, both Prince George’s and Montgomery Counties. For more information, including a list of participating lenders, visit www.mmprogram.org.
Prince George’s County HOME Program
The HOME Program specifically offers down payment and closing cost assistance to buyers in Prince George’s County, MD. To find out more and whether you may be eligible, click here. The first step to applying for this program is to contact a participating lender. We’re happy to recommend a participating lender who we work with regularly.
Free DC Energy Audit
Buyers care about the energy efficiency of their future home. Sellers can increase the marketability of their property by getting a free home energy audit from the District Department of the Environment. The audit includes a rating from “Extremely Poor” to “Extremely Efficient” and includes tips for what to do increase your rating. And did we mention that it’s free? To request a free energy audit for your property, click here.
The RiverSmart Homes program offers incentives to homeowners interested in reducing stormwater pollution from their properties and making their home more attractive for buyers who care about the cleanliness of our rivers. Homeowners can receive up to $1,200 for adopting one of the following landscaping enhancements: Shade Tree Planting, Rain Barrels, Pervious Pavers, Rain Gardens, BayScaping. Click here to request an analysis of what you can do to your property to help prevent polluting stormwaters. Be forewarned that this is a popular program and homeowners may wait a few months before receiving a consultation.
Home Affordable Foreclosure Alternatives (HAFA)
If you can't afford your mortgage payment and it's time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a short sale or a Deed-in-Lieu (DIL) of foreclosure. In a short sale, the mortgage company lets you sell your house for an amount that falls "short" of the amount you still owe. In a DIL, the mortgage company lets you give the title back, transferring ownership back to them. You can find out whether you qualify for HAFA by contacting your lender. We also recommend that you get in touch with a housing counselor who can assist you if you’re having trouble making your payments. For more information, check out Making Home Affordable. We also strongly recommend that you call the HOPE hotline (888-995-4673) for referrals to housing counselors and more helpful information.