Washington D.C. DCFA All of DCHFA’s programs are outlined for developers seeking financing, future homeowners seeking down payment and/or closing cost assistance, renters seeking affordable apartments and homeowners in need of financial relief to retain their home.
Home Purchase Assistance Program (HPAP)
-Provides financing assistance up to $50,000 and closing cost assistance of $4,000 for first-time buyers in DC.
-Funding ranges from $10,000 to $80,000, depending on your household income.
-HPAP assistance offers 40-year loans, with payments deferred for the first five years.
Maryland Mortgage Program
- 30-year, fixed-rate deferred payment loan at 0 percent interest to cover down payment and closing costs up to 5 percent of the purchase price. It helps to think of it almost like a grant – you’ll only repay it when you sell or refinance your home.
- The program also includes a low-interest first loan. Household Income limits in Maryland range from $92,500 up to $154,420, depending on property location and household size
- At least one of the buyers must be a “first-time” home buyer – in this case, that means someone who hasn’t owned a home in the previous three years.
Maryland SmartBuy 2.0
- A qualifying homebuyer can purchase a home through the Maryland Mortgage Program, and use up to 15% of the value of the home (up to $40,000) to pay off their student debt while still counting toward their new home.
- Allows you to purchase any home in Maryland that meets the Maryland Mortgage Program guidelines unlike version 1.0 that limited you to ready-to-move-in homes owned by the state and program. The program can bring up to $40,000 in student debt relief.
- To qualify for Maryland Smart Buy 2.0 program, homebuyers must have an existing student debt with a minimum balance of $1,000.
Low down payment
Liberal credit qualifying
- As low as 1% down with Virginia Housing DPA Grant
Credit Scores as low as 620
Eligible for Virginia Housing’s Down Payment
$0 down payment required for eligible veterans
- Liberal credit qualifying
Credit scores as low as 620
Eligible for Virginia Housing’s Closing Cost