For many aspiring homeowners in Washington, D.C., the challenge of affording a down payment and closing costs can be a significant challenge to purchasing a home. Fortunately, programs such as DC Open Doors and the Home Purchase Assistance Program (HPAP) provide essential financial support to help make homeownership more accessible.
The DC Open Doors program, administered by the District of Columbia Housing Finance Agency (DCHFA), offers down payment assistance loans and affordable mortgage options to qualified homebuyers. The program provides up to 3% of the home’s purchase price as a down payment assistance loan, which can be combined with competitive first trust mortgage rates.
Key Benefits:
Eligibility Requirements:
The Home Purchase Assistance Program (HPAP), administered by the DC Department of Housing and Community Development (DHCD), provides down payment and closing cost assistance to low- and moderate-income first-time homebuyers. This assistance is structured as an interest-free deferred loan, which does not require repayment until the homeowner sells, refinances, or moves out of the property.
Key Benefits:
Eligibility Requirements:
Both programs require applicants to work with participating lenders and housing counselors to navigate the application process. For DC Open Doors, interested buyers should contact your First Savings mortgage professional who can assist with pre-qualification and mortgage selection. For HPAP, applicants will complete homebuyer education through an approved provider and work with an HPAP administrator to assess eligibility and secure funding.
Can I use DC Open Doors and HPAP together?
No, these programs cannot be combined. However, buyers can explore other assistance options that may complement either program.
Do I have to be a first-time homebuyer to qualify for DC Open Doors?
No, DC Open Doors is available to both first-time and repeat homebuyers.
How long does the HPAP approval process take?
The HPAP process can take several weeks, depending on application volume and document processing. It’s recommended to start early and ensure all required paperwork is complete.
Is there a minimum credit score requirement for HPAP?
While HPAP does not have a strict minimum credit score, applicants must demonstrate financial readiness and the ability to sustain homeownership.
What types of properties are eligible?
Both programs apply to primary residences, including single-family homes, condominiums, and some cooperative units within Washington, D.C.
DC Open Doors and HPAP are two powerful resources for homebuyers looking to purchase a home in Washington, D.C. By offering down payment assistance, competitive mortgage rates, and interest-free loans, these programs help remove financial challenges and support residents in achieving homeownership. Prospective buyers should explore these programs, consult with your First Savings mortgage professional and housing counselors, to take the steps toward securing their dream home.
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