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"DC Open Doors" pays your Down Payment for you on a home purchase in DC. The money does not have to be paid back. You must have:
  • Less than $125,580/year in income
  • Have fair to good credit (660+)
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Virginia Housing Development Authority (VHDA) pays your Down Payment when you meet certain criteria. The money does not have to be paid back. You must have:
  • Less than $97,520/year in income (1-2 person households)
  • Less than $113,840/year in income (3+ persons)
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Maryland Mortgage Program loans you up to $8,500 in Down Payment Assistance. There's additional incentives from specific Maryland employers + great student loan incentive programs.
  • Incomes lower than $88,400 for 1-2 person households are eligible
  • Incomes between $88,400 & $128,760 may be eligible, based on county
UrbanLand Company Agents have over $38 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
 

Buyer Assistance Programs

30 Year Mortgage Rates Back Below 4%; Feds Say Not Much Volatility The Next Few Weeks


Interest rates on 30 year mortgages have dropped back below 4%, and the feds say that rates most likely won’t change that much in the next several weeks, in a recent report by Freddie Mac. Rates have been on the higher side of 4% for about 6 weeks.

Rates on a 30 year ended last week at 3.98%. In 2014 at this time, rates were 4.12%. “Rates of course have a different effect on your monthly payment as it spreads across the 30 years of the mortgage. Small and large movements in interest rates do impact your affordability and how much you can purchase. If rates don’t move much in the coming weeks as the feds say, then buyers should consider this a window of opportunity,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “If you’re tired of renting, now’s the time to get locked in at this great rate!”

Why do we cover interest rates? It’s another key component of affordability no matter what your price point. “While you’re somewhat at the mercy of the feds regarding interest rates, you can certainly take advantage of the valleys and peaks of mortgage interest rates. Economists did forecast that rates would hit over 5% by the end of 2015, so sub-4% now with 4 months to go in the year is a big deal!” continued DiRuggiero.

Want to know more about how rates affect your payments? UrbanLand Company’s Buyer Workshops have all the answers, and also a clear-cut pathway to home or condo  ownership that you can start right away. The Summer Workshops also focus on Offseason Buying Strategies that you should be paying careful attention to if you’re planning on using programs like DC Open Doors or Maryland’s Mortgage Program. “It can be tough for buyers using financing assistance programs to compete at the offer table when they find a home they really, really want. We have methods, coaching and agent representation available from the Workshops that make your dreams a reality.”

UrbanLand Company’s First Time Home Buyer Workshops this week are Tuesday, 8/4 at 5:30pm and Saturday, 8/8  at 10:00am. RSVP via email or on Facebook Events.

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