The maximum down payment assistance for one of DC's main homeowner assistance programs is about to go up significantly.
Mayor Muriel Bowser announced on Monday that the down payment assistance through DC's Home Purchase Assistance Program (HPAP) will increase from $80,000 to $202,000 as of October 1.
HPAP gives first-time buyers in the District interest-free loans and help with closing costs. The amount awarded is based on income, household size, and down payment amount (see table above), and there is a long list of eligibility requirements. HPAP also offers $4,000 in closing cost assistance.
In addition to increasing HPAP's down payment assistance, Mayor Bowser reminded DC homeowners today that the foreclosure moratorium for those who applied to a homeowner assistance program will end on September 30.
This article originally published at https://dc.urbanturf.com/articles/blog/the-down-payment-assistance-for-this-dc-homebuyer-program-just-shot-up/19991.
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