Register Now!

To Start your path to your Dream Home join our next Home Buyers Seminar..

Register Now!      10AM Saturday  AUGUST 13th, 2011    Prudential Carruthers Realtors Building   4050 Chesapeake St NW,  Washington DC 20016               Convenient to: Tenleytown/AU Metro

We will discuss the whole home buying process A-Z: What Do I Do First? , Mortgage basic: rates, points fees,  Fees and closing costs..,  The Tax Benefits of home ownership…,  Making an offer…,  Down Payments as Low as $500

Learn how you can get up to $70,000/$40.000 to get up to wards the purchase of a new home and get up to $7,000/$4,000 in closing assistance.

Register Now!

These seminars a presented by DC realtor  Al Matlock

Find your next home HERE!

Let me find your next Home!  dcrealtoe@live.com    202/243-4232

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

For homes purchased on or before December 31, 2011.

This federal tax credit is available to first-time homebuyers in the District of Columbia. The credit is the smaller of:

• $5,000, if single, married filing jointly, head-of-household, or qualifying widow(er) ($2,500, if married filing separately) or
• The purchase price of the home.

In general, you may claim the credit if:

• You purchased a main house during the tax year in the District of Columbia, and
• You (and your spouse, if married) did not own any other main home in the District of Columbia during the 1-year period ending on the date of purchase.

Q & A on the $5,000 D.C. Homebuyer Tax Credit

1. Does it matter how much money I make?
   Eligibility for the credit is phased out for single filers making $70,000 to $90,000 (adjusted gross income) and joint filers making $110,000 to $130,000. For example, single filers making $70,000 (or joint filers making $110,000) would receive the entire credit; single filers making $80,000 (or joint filers making $120,000) would receive a $2,500 credit; single filers making $90,000 (or joint filers making $130,000) would not receive the credit.
2. What if I have already owned a home in the suburbs or in the District?
   Those who have owned a principal residence before in the suburbs or in the District are still eligible as long as they have not owned a home in the District of Columbia during the year preceding the new purchase.
3. When do I get the $5,000?
   First-time homebuyers will claim the $5,000 against federal income taxes they will file by April 15. If those taxes are less than $5,000, the remainder of the credit can be carried over and applied against the next year’s taxes.
4. Must the home bought with the credit be my primary residence?
   Yes. This home must not be an investment property.
5. How do I get the proper IRS form I need to file for the tax credit?
   Call the IRS at 1-800-TAX -FORM to get your copy of the tax form for the $5,000

Source  DC Office of Tax and Revenue  and  Congresswoman Norton’s Website

Notice of the new income limits and homebuyer assistance levels were published in the DC Register today. DHCD is authorized establish the income limits and homebuyer assistance for the program under the authority of Chapter 25, Title 14, DCMR, Section 2503 and Section 2510 of the rules for HPAP.

Adjustment to the assistance table was necessary due to the current economy and the real estate market.

HPAP provides assistance to eligible low-to-moderate income families, based on the US Department of Housing and Urban Development’s Area Median Income (AMI) of $99,000 for a family of four. Up to $40,000 is available for down payment assistance, and up to $4,000 is available to assist with closing costs.

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

Register Now!

To Start your path to your Dream Home join our next Home Buyers Seminar..

Register Now!      7pm Thursday  May 12, 2011    Prudential Carruthers Realtors Building   4050 Chesapeake St NW,  Washington DC 20016               Convenient to: Tenleytown/AU Metro

We will discuss the whole home buying process A-Z: What Do I Do First? , Mortgage basic: rates, points fees,  Fees and closing costs..,  The Tax Benefits of home ownership…,  Making an offer…,  Down Payments as Low as $500

Learn how you can get up to $70,000/$40.000 to get up to wards the purchase of a new home and get up to $7,000/$4,000 in closing assistance.

Register Now!

These seminars a presented by DC realtor  Al Matlock

Capitol Hill Neighborhood 2 bedroom, 1.5 bath, $529,000 http://goo.gl/tNksa

West End Neighborhood 4 bedrooms, 4 baths, $1,625,000 http://goo.gl/HvT5U

Cleveland Park Neighborhood 1 bedroom, 1 bath, $269,900 http://goo.gl/6maw2

Brookland/Catholic University Neighborhood 1 bedroom, 1 bath, $113,000 http://goo.gl/vjIN4

Dupont Circle Neighborhood 2 bedroom, 1.5 bath, $490,000 http://goo.gl/27o4Y

Petworth Neighborhood, 2 bedroom, 1 bath, $169,900 http://goo.gl/RGY1N

Logan Circle Neighborhood, 1 bedroom, 2 bath, $442,000 http://goo.gl/GF1GF

Let DC’s Condo Guy Find The DC Condo that Fits Your Style dccondoguy@live.com
301/452-2278 http://dccondoguy.com

Register Now!

To Start your path to your Dream Home join our next Home Buyers Seminar..

Register Now!     

 10am Saturday April 23, 2011    Prudential Carruthers Realtors Building   4050 Chesapeake St NW,  Washington DC 20016               Convenient to: Tenleytown/AU Metro

We will discuss the entire home buying process A-Z: What Do I Do First? , Mortgage basic: rates, points fees,  Fees and closing costs..,  The Tax Benefits of home ownership…,  Making an offer…,  Down payments

Learn how you can get up to $70,000/$40.000 to get up to wards the purchase of a new home and get up to $7,000/$4,000 in closing assistance, down payments as low as $500

Register Now!

These seminars a presented by DC realtor  Al Matlock   dcrealtor@live.com