DC Open Doors helps make homeownership in DC affordable with loans for down payments, closing costs, and below-market mortgage rates. Open to first-time and repeat buyers, the program works through participating lenders who manage the loan process from application to settlement.
The EAHP provides eligible DC government employees with a 0% interest deferred loan and matching grant for down payment and closing costs to buy their first home, condo, or co-op in the District.
The Inclusionary Zoning (IZ) Program ensures affordable homes are included in most new or renovated residential developments. IZ offers rental apartments and condos or townhomes for sale.
The NEAHP grant offers $3,000–$26,500 for down payment and closing costs to eligible DC government employees under a collective bargaining agreement. Administered by DHCD, OLRCB, and GWUL, the grant is forgiven after 10 years if terms are met. The home must remain the participant's primary residence.
HomeReady offers low down payments and flexible financing for creditworthy low-income buyers, including a $2,500 credit for very low-income borrowers to help with down payment and closing costs. Lenders benefit from reduced hedging costs and enhanced pricing options. See LL-2024-01 for details.
The Freddie Mac Home Possible® mortgage offers a 3% down payment and flexible options for very low- to low-income borrowers. Non-occupant co-borrowers and borrowers with other financed properties are allowed, all with competitive pricing and the simplicity of a conventional mortgage.
The MCC program helps lower-income families afford homeownership by offering a tax credit of up to $2,000 per year for a portion of mortgage interest paid. Eligible first-time buyers must meet income and purchase price limits and use the home as their primary residence.
Bank of America’s Community Homeownership Commitment® offers down payment and closing cost assistance combined with low down payment mortgages, making homeownership more accessible for modest-income borrowers.
Make homeownership possible with a grant of up to $7,500 in select areas and a low down payment.
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Get up to $7,500 in lender credit to help cover closing costs if you meet eligibility requirements. This assistance applies to any loan type, including FHA loans with lower closing costs.
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