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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

Pre-Holiday ‘DC Open Doors’ $0 Down Home Buyer Workshops


The Fall real estate market continues to be very busy in the DC/MD/VA area. Interest rates on 30 year fixed rate mortgages have begun to rise but are still right around an extremely low 4%.  This means the monthly payments for a ‘normal’ first time home buyer mortgage are at extremely low levels for the DC area, levels that are often even lower than your current rent.

dcopendoorslogoInterest rates this low create very favorable conditions to use the ‘DC Open Doors‘ $0 Down program to acquire your first home or condominium – the city-funded program has already paid the down payments for $100 million in home loans to DC home buyers since it began in 2013.

We run our Free $0 Down Home Buyer Workshops twice a week during all the non-holiday weeks a year,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “We educate buyers on the ‘DC Open Doors’ $0 Down Program and discuss how to actually use the program successfully to buy a condo or home. ‘DC Open Doors’  is easy to qualify for, and the 4% interest rates offset the loan program’s higher administrative fees and mortgage insurance costs.”

What does DC Open Doors do for you as a home buyer?

It is a Down Payment Assistance Loan (DPAL) that does not have to be paid back. This is essentially “free money” – the Down Payment Loan’s balance due reduces by 20% each year for a term of 5 years, ending in a zero balance due.

You must earn under $125,580/year in income & must have a credit score of 640+ to qualify. You’ll also need a real estate agent to help you find & purchase a qualifying home.

Our Buyer Workshops and $0 Down agents have personally sold over $15.5 million in homes since 2013 to buyers that came to us for help with navigating DC Open Doors,” continued DiRuggiero. “We jumped on board this program as a major part of our in-house buyer assistance activities the minute it was available – ‘DC Open Doors’ is an easy loan that pays up to 3.5% of a typical 30 year FHA or HFA mortgage – that’s a huge deal in a marketplace like Washington, DC!”

The Workshops also deal with topics like figuring out your real purchasing power, getting pre-qualified for financing, and how to determine your actual real affordability or buying power.”It’s key to understand that $0 Down has mortgage insurance and loan fees, and these costs do factor into a higher monthly mortgage payment. Our buyers are coached to spend under their affordability to offset the higher fees. Right now with rates like they are you can spend closer to your true affordability levels, meaning you can get a nicer place!”

Our $0 Down Buyer Workshops are held at 913 Florida Ave. NW just off the U St/Cardozo METRO. Here’s the current calendar for the remainder of November. Please let us know you’re coming in advance with an RSVP by email


Real Estate Workshops
tile-tues-workshop.png$0 Down Home Buying – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership.Tues. 11/17 5:30-7pm | 913 Florida Ave NW
tile-sat-workshops.pngSaturday DC/MD/VA $0 Down Homebuying + Top Neighborhood Values: $0 Down Programs in DC/MD, 3.5% Down + optimizing your monthly payment. Sat. 11/21 10-11:30am | 913 Florida Ave NW
tile-tues-workshop.png$0 Down Home Buying – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership.Tues. 11/24 5:30-7pm | 913 Florida Ave, NW
tile-tues-workshop.png$0 Down Home Buying – DC/MD/VA After Work Edition: Get the scoop in a fast format that puts you on the path to ownership.Tues. 12/1 5:30-7pm | 913 Florida Ave, NW

More info on the program is available here:

dcopendoorsbanner

Our UrbanLand Company workshop space can accommodate 15 to 20 easily for our sessions. Please let us know you’re coming in advance with an RSVP by email…or join our Facebook events.

Take a look at some of the recent homes that Workshops attendees have purchased & settled on.

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