close
close
close
"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

Own your own home & build your wealth for the future


One of the most common and popular ways to build personal wealth is by owning your own home. Whether it’s a condominium, townhome or single family home, money spent monthly on your mortgage acts just like money put away in a long term savings account.

This idea becomes more clear when you add in another factor – the value of a home can appreciate much faster than money invested in a savings account with a low interest rate. In a situation where your home increases in value annually, your wealth or investment in the home increases two fold – 1) as you pay the mortgage, you owe less on your original loan amount; and 2) the overall value of your home or asset increases.

In overly simplified terms, if the $250,000 condominium you purchase this year increases in value to be worth $280,000 two years from now, you have increased your net wealth from your home investment in the following ways:

  • Gained $30,000 in “free wealth” – the difference between the $250,000 price when you bought compared to the $280,000 it is worth now.
  • Gained back the 24 months of mortgage payments just as if deposited the value of your monthly payment into a savings account.

If you are a renter and do not own your home, you have simply paid your rent every month to your landlord, and they have used your rent money to increase their own net wealth in the same ways.

These calculations are overly simplified and does not take into account monthly property taxes, maintenance, insurance or mortgage interest. But as you can see, those who buy a home get their most expensive monthly costs – their cost of living – re-invested every month into building their personal wealth.

The D.C. real estate market is showing signs of rebounding, with home prices starting to move upwards again. Mortgage rates are extremely low, meaning that the interest you pay on your loan will be minimized. Down payment amounts are also low, meaning you can purchase a home with as little as 3.5% of the purchase price required. For those who are gainfully employed with a stable income, there has never been a time to buy a home or invest in real estate.

Here are some examples of what new or recently renovated luxury condominiums will cost you in downtown Washington, D.C.:

A 1BR 1BA with luxury kitchen and luxury bath finishes located just 6 blocks from the hot U Street Corridor currently lists at $249k. Ledroit Place Condos is on quaint and Victorian Anna Cooper Circle – several units remain as the building is 65% sold out.

Large 2BR 2BA units are available at Stella Condos in Eckington starting at just $267k. Again, these condominiums are freshly renovated with all-new interiors and slick urban finishes throughout.

Just opened is The Lexington at 12 S Street NE in Eckington. These are huge 1,000+ square foot 2BR, 2BA residences with sophisticated bathroom finishes and features. This is a very unique Victorian building just recently renovated. First units for sale list at just $315k.

Coming Soon are The Avenue on Sherman Avenue and 315 G Street in Capitol Hill. Both will feature 1BR 1BA condos priced very attractively.

Contact us today at 202.299.9223 or email info@urbanlandcompany.com. If you’re a first time buyer and want to explore purchasing a condominium or home in DC, MD or VA, we are happy to help you on a low pressure basis. Our agents strive to make finding the right home affordable and easy.

SUPPORT LOCAL REAL ESTATE!
Skip to toolbar
Tools Fast Help