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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

Next Interest Rate Hike Projected For March


Fannie Mae forecasts two factors which will positively affect the ability of households to purchase a home or condo this year. Further labor market improvements with increased compensation and job security, combined with continued lightened lending standards and expanded mortgage access, will help push the recovery of the housing markets forward nationwide.

Improved employment markets and easier access to lending will have to counteract the effects of continued strong home price appreciation and rising mortgage interest rates.

  • Home price appreciation in many areas is outpacing income growth for individuals;
  • Rising rents continue to affect affordability and cash flow for those saving for a down payment to purchase a home;
  • Fed interest rates are expected to rise 3 times in 2016 and this will affect mortgage interest rates

End result forecasts say that 30 year fixed rate mortgages will increase from its current level around 3.90% (December 2015) to just 4.15% at the end of 2016. This gradual rise could change drastically and could also take the form of a rate spike.

“The focus since November – December had been ‘What will the Fed do with interest rates overall?’. That news is now past, and all of the media attention distracts from real issues like overall affordability,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “The costs of borrowing for a mortgage are going up slightly, but first time buyers and others on a budget should take note of other variables that affect your home purchase much more.”

Now back to housing prices. “The lower price points of housing, where 1st time home buyers tend to focus, is showing rapid appreciations and low inventory. Nationally, the ‘low price tier’ of housing is showing 8.2% price growth over prior year levels. For inexperienced buyers without aggressive agent representation, you could encounter difficulty in finding a home you can afford,” continued DiRuggiero.

What is one to do? Like we’ve said before, “Don’t panic.”  The local DC/MD/VA real estate market is competitive, but during the winter months it’s not quite AS competitive. There are deals to be had and affordable, nice homes and condos available in nice neighborhoods. “You just have to know where to look and, most importantly, have to be prepared to purchase. This is why offer our Free Buyer Workshops program,” concluded Gerard.

UrbanLand Company Buyer Workshops are free of charge and available twice weekly (unless we’re in a blizzard!). Join us on Tuesday nights at 5:30pm for our After-Work Edition and Saturday mornings at 10am.  RSVP by email to confirm session availability!

Real Estate Buyer Workshops
tile-tues-workshop.png$0 Down Home Buying + Offseason Buying Strategies – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership. Tues. 1/26 5:30-7pm | 913 Florida Ave, NW
tile-sat-workshops.pngSaturday DC/MD/VA $0 Down Homebuying + Offseason Buying Strategies: $0 Down Programs in DC/MD, 3.5% Down + optimizing your monthly payment. Sat. 1/30 10-11:30am | 913 Florida Ave, NW
tile-tues-workshop.png$0 Down Home Buying + Offseason Buying Strategies – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership. Tues. 2/2 5:30-7pm | 913 Florida Ave, NW
tile-sat-workshops.pngSaturday DC/MD/VA $0 Down Homebuying + Offseason Buying Strategies: $0 Down Programs in DC/MD, 3.5% Down + optimizing your monthly payment. Sat. 2/6 10-11:30am | 913 Florida Ave, NW
tile-tues-workshop.png$0 Down Home Buying + Offseason Buying Strategies – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership. Tues. 2/9 5:30-7pm | 913 Florida Ave, NW
tile-sat-workshops.pngSaturday DC/MD/VA $0 Down Homebuying + Offseason Buying Strategies: $0 Down Programs in DC/MD, 3.5% Down + optimizing your monthly payment. Sat. 2/13 10-11:30am | 913 Florida Ave, NW

RSVP at Info@UrbanLandCompany.com! Here’s some of the homes and condos our attendees have successfully purchased using our guidance and agent representation!

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