Home | Newsletter | Advertise
loading...

Come Learn How to Get $40K For Your New Home

  • March 4th 2009

by Mark Wellborn

Come Learn How to Get $40K For Your New Home: Figure 1

There is a meeting tonight at Housing Counseling Service, Inc., 2410 17th Street, NW, Suite 100 (see map here) from 6 to 8pm that will provide information about the Home Purchase Assistance Program (HPAP).

The program (HPAP) is a DC initiative that gives up to $40,000 in financial assistance to low to moderate income individuals to purchase single-family homes, condominiums and apartments. The dollar amount used to be $70,000, but effective January 16, that number was lowered to $40,000.

The money provided by HPAP can be used for a down payment and/or closing costs, and it comes in the form of a low-interest 5-year deferred loan.

Just so you know before coming to the meeting, you must meet the following criteria to be eligible for assistance:

  1. Be the head of the household and a first-time home buyer.
  2. Be a low-to-moderate income resident, based on Department of Housing and Community Development standards.
  3. Have had no ownership interest in residential real estate within the three years prior to the application.
  4. The purchased home must be the borrower’s primary residence and must be located within DC.
  5. Have a good credit rating.

This article originally published at https://dc.urbanturf.com/articles/blog/come_learn_how_to_get_40k_for_your_new_home/608.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse