8/4/2019 Homebuyer Assistance Programs Factsheet_updated 9Jun10

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D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T

HomebuyerAssistancePrograms

TheDepartmentofHousingandCommunityDevelopment(DHCD)iscommittedtoprovidinghomeown

ershipopportunitiesfortheDistrictslowtomoderateincomeresidents. TheDistrictalsoencourages

thosewhoworkfortheDistrictGovernmenttoliveinthecitytheyserve. DHCDoffersthefollowinghome

buyerassistanceprograms.

HomePurchaseAssistanceProgram(HPAP)

DHCDsHomePurchaseAssistanceProgram(HPAP)helpslowto

moderateincomeresidentspurchaseahomeintheDistrict.Qualified

applicantscanreceivefinancialassistancefordownpaymentandclosing

coststopurchasesinglefamilyhouses,condominiumsorcooperative

units.

Areyoueligible?

TobeeligibleforHPAPassistance,youmustmeetthefollowingcriteria:

1.Betheheadofthehouseholdandafirsttimehomebuyer.

2.Bealowtomoderateincomeresident,basedontheDepartments

standards.

3.Cannothavehadownershipinterestinanyresidentialrealestatewithinthethreeyearspriorto

application.

4.Thepurchasedhomemustbetheborrowersprimaryresidenceandmustbelocatedwithinthe

DistrictofColumbia.

5.Possessagoodcreditrating.

6.

Applications

are

prioritized

based

on

the

following:

a. lowincome,elderly,handicapped,disabledordisplacedDistrictresidents

b. otherDistrictresidents

c. nonresidentswhohavebeenemployedintheDistrictforoneyearpriortoapplication

d. nonresidentswhohavelivedintheDistrictforthreeyearsasanadult

Pleasenote: DistrictresidentswillalwaysbethepriorityforHPAPassistance. Nonresidentapplicationswillbe

accepted,butonlyprocessedforeligibilityattimeswhentherearenopendingapplicationsfromDistrictresi

dents.

Howmuchassistanceisavailable?

The

total

amount

of

financial

assistance

for

down

payment

provided

to

very

low

,

low

,

and

moderate

incomeeligiblehouseholdsshallnotexceed$40,000baseduponhouseholdincome,need,andtheavail

abilityoffunds.Closingcostassistanceisprovidedseparatelyandwillbenomorethan$4,000.

(Continuedonreverseside)

Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200

8/4/2019 Homebuyer Assistance Programs Factsheet_updated 9Jun10

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D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T

HowmuchwillIneedtocontributetoqualify?

HPAPrecipientscontribute$500or50%ofliquidassetsgreaterthan$3,000,whicheverisgreater.Forvery

low andlowincomeapplicants,thecontributioninexcessoffivehundreddollars($500)maybewaivedby

theDirectorwherethereisdemonstratedneedandtheapplicantiselderly,handicapped,disabled,or

displaced.

Howistheloanrepaid?

Paymentonloansmadetoanyincomeeligiblehouseholdunderthisprogramisdeferredforthefirstfive

years.Monthlyprincipalonlypaymentsbeginatthestartofthesixthyearoftheloan,amortizedovera

40yearperiod.Theentireamountoftheloanisimmediatelydueandpayableiftheborrowertransfersthe

property,thepropertyisrefinanced(unlesstherefinancemeetscertainconditions),orthepropertyceases

tobetheborrowersprincipalplaceofresidence.

EmployerAssistedHousingProgram(EAHP)

TheEmployerAssistedHousingProgram(EAHP)providesassistancetoemployeesoftheDCGovernment

who

are

first

time

homebuyers

in

the

District.

DC

Government

employees

are

eligible

for

matching

down

paymentfundsupto$1,500;adeferredloanofupto$10,000;and,forthefirstfiveyearsoftheloan,a

propertytaxreduction(basedonaslidingscale)andanincometaxdeduction.

DCGovernmentemployeesincludethepersonnelatallDCGovernmentagencies,includingtheMetropolitan

PoliceDepartmentandDCPublicSchools,andemployeesatDCpubliccharterschools. DCGovernment

employeesmustbeemployedingoodstandingforoneyeartoqualify,withtheexceptionofpublicschool

andpubliccharterschoolteachers,policeofficers,firefighters,andemergencymedicaltechnicians,whoare

eligibleatthetimeofappointment. ApplicantscanreceivefundingfrombothHPAPandEAHPaslongasthe

eligibilityrequirementsforbothprogramsaremet.

How

can

I

apply?

ToapplyforHPAPassistance,pleasecontactoneofthefollowingorganizations:

HousingCounselingServices

241017thStreet,NW

Washington,DC20009

(202)6677006

LatinoEconomicDevelopmentCorp.(LEDC)

231618thStreet,NW

Washington,DC20009

(202)5885102

LydiasHouse

3939SouthCapitolStreet,SW

Washington,DC20032

(202)3731050

Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200

UniversityLegalServices

220IStreet,NE,Suite130

Washington,DC20002

(202)5474747

UniversityLegalServicesat

DHCDHousingResourceCenter

1800MartinLutherKing,Jr.Ave.,SE

Washington,DC20020

(202)8892196

UniversityLegalServices,FarNE

LloydE.SmithCenter

3939BenningRoad,NE

Washington,DC20019

(202)396120106.09.