Washington DC’s Home Purchase Assistance Program (HPAP).

The specifics of Washington DC’s Home Purchase Assistance Program (HPAP):

Home Purchase Assistance Program is a program that helps low and moderate income individuals and families buy a home in Washington DC. Up to $70,000(foreclosed property in select neighborhoods) / $40,000 in financial assistance is available for qualified applicants.

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 alwayscome first.

Up to $7,000(foreclosed property in select neighborhoods) / $4000 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….

For questions or more info about this program contact me at ….  dcrealtor@live.com    or call  202/243-4232