What's Hot: Have Rising Interest Rates Affected Your Housing Search? | A $10,000 Incentive & the Final Chance to Buy at The Parks’ First Condominium
New Homebuying Program Announced for DC Government Employees
DC is getting another tool in the homebuying assistance arsenal.
This morning, Mayor Muriel Bowser and EagleBank President and CEO Susan Riel announced a new program to make homebuying more affordable for DC government employees. The program, which can be layered with the Home Purchase Assistance Program and the city employee-specific Employer-Assisted Housing Program, would offer users a discount on mortgage interest rates, as well as potential credits toward closing costs.
story continues below
loading...story continues above
The mortgage loan program would apply to conventional loans, as well as home equity lines of credit, Federal Housing Administration loans, DC Open Doors loans, and 203k rehabilitation loans with a maximum value of 110 percent or $726,525 post-rehabilitation. Unlike typical homeownership assistance programs, DC government employees who are already homeowners would not be ineligible.
The program is expected to begin in the coming weeks.
Note: The article has been updated with information courtesy of the Office of the Deputy Mayor for Planning and Economic Development.
See other articles related to: mortgages, mayor bowser, hpap, homebuying assistance, homebuying, home purchase assistance program hpap, home purchase assistance program, ehap, eaglebank, dc homebuyers
This article originally published at http://dc.urbanturf.com/articles/blog/new-homebuying-assistance-program-announced-for-dc-government-employees/15510
Most Popular... This Week • Last 30 Days • Ever

DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »

The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »

A look around DC to find the most equity-rich neighborhoods.... read »

Just a month after setting a new high in March, the value of a house in DC skyrockete... read »

The National Capital Planning Commission will consider approval of the final master p... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- Where Are People House-Rich in DC?
- $1.4 Million: The Price for a House in DC Hit a New High in April
- The Massive Development at DC's Armed Forces Home Looks to Get Key Approval in June
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. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro