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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 $33.7 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 $33.7 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 $33.7 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

Loan Limits For FHA Mortgages Increasing


Home buyers using FHA mortgages backed by Fannie Mae and Freddie Mac will be able to purchase more expensive homes next year. The loan limits for popular FHA first time home buyer mortgages are going up for both traditional and “high cost counties”.

The loan limit for most counties around the USA is a maximum purchase price of $417,000 – this limit will raise to $424,100. The last time the limit was raised was in 2006. Loan limits for “high cost counties,” such as those around the DC area, will increase from $625,500 to $636,150.

The FHA loan program is a mainstay for first time home buyers who need a low down payment in order to purchase.  The down payments are just 3.5% and credit scores can be surprisingly low. The downside of the loan program is higher monthly mortgage payments caused by required mortgage insurance.

 

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