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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
 

Real Estate

DCHFA Expands DC OPEN DOORS to include $0 Down on FHA 203K Streamline Loans


The DCHFA just announced on 2/14 that their DC OPEN DOORS $0 Down Home Buying program can be now used with FHA’s 203k Streamline Loans.

The FHA Streamline loan program is for those wishing to purchase properties in need of renovation, repair or fix-ups. It traditionally included an FHA 3.5% down payment and could be used for the purchase of up to a 4 unit multi-unit residential building. The structure of the loan allows for up to $35,000 in renovations and repairs to be completed and funded within the mortgage.

The merge with DC Open Doors opens up the FHA 203K loan product to $0 Down through the DCHFA. This means that you can buy a home in downtown DC in need of repair or renovation for $0 down and roll up to $35,000 in immediate improvements into the mortgage!

The FHA 203K renovation funding of up to $35,000 is often enough to cover a new kitchen, central AC, bath updates and more when you buy an older home. We see this as a huge opportunity for the first time home buyer seeking value – older homes or “fixer uppers” can often be purchased at very favorable prices, and FHA 203k lets you put your own personal touches  on the home you purchase!

UrbanLand Company is a downtown DC based real estate brokerage and new home sales team. We regularly run Investor Workshops for beginning real estate investors, and our hands-on DC Open Doors informational workshops continue to be a popular destination for potential first time homebuyers in the city. More information can be found on our DC Open Doors information site at http://www.dchfaopendoors.com.

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