Have you been thinking about buying a home in the Washington, DC area and wondering how you will come up with the cash? We were in the same position too, and the District of Columbia has provided us a solution!
Washington, DC created the DC Opens Doors Program to assist first-time homebuyers with their downpayment. They will provide homebuyers up to 3.5% of the purchase price to be used toward buyers downpayment. The best part - you do not pay it back if you live in the home for five years!
Must be a first-time homebuyer
Minimum credit score of 640
Maximum debt to income of 45-50%
The borrower cannot make more than $132,360 annually
This is truly an amazing program that we have suggested to many of our clients have taken advantage of to buy their first home.
There are specific mortgage lenders that are approved for this program so contact us so we can provide you their information