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Immerse yourself in the heart of American politics and history in Washington D.C. Explore iconic landmarks, world-class museums, and a vibrant cultural scene. D.C. offers a strong job market, diverse neighborhoods, and a central location. Secure your dream home in the nation's capital with a competitive mortgage rate from us.
Washington, D.C., helps people buy homes for the first time. The DCHFA runs the DC Open Doors program. Even if you’ve never bought a home before, you can apply for a mortgage if you don’t own another property. With this mortgage, you get a lower interest rate and can get an extra loan for the down payment.
To get this mortgage, you need a credit score of at least 640. Also, your own yearly income can’t be more than $199,200. Your total debts compared to your income should be no more than 50%, or 45%, if you’re getting an FHA loan. There’s no limit on how expensive the house can be, but the biggest loan you can get is $726,200. Anyone can apply, but you have to buy a home in D.C. to get the loan.
The DCHFA offers the DC4ME program for government workers buying their first home (or their first home in the last three years). This first-time home buyer program in D.C. gives them a lower interest rate on a mortgage. They can also get 3 percent in down payment help, which is an extra loan with zero interest.
To qualify, you (or one of the borrowers) must work full-time for a District government agency, an independent agency, a District of Columbia Public Charter School, or another group overseen by the Council of the District. If you're not sure if your job qualifies, you can check a list of eligible employers.
You also need to meet these rules:
The DCHFA’s Home Purchase Assistance Program (HPAP) provides Washington D.C. first-time home buyers with up to $202,000 for their down payment. This money is given as a separate loan with no interest. How much you get depends on your income and the number of people in your household.
You have to pay back the HPAP loan when you sell the home, stop living there as your main home, or refinance your first mortgage. Here's how repayment works based on your income:
You can also get up to $4,000 to help with closing costs if you qualify.
To be eligible, you must be the head of your household, have a low-to-moderate income according to HPAP's rules, and have a good credit score. The home you're buying has to be where you live most of the time, and it must be in Washington, D.C. You also need to put at least $500 of your own money toward buying the home.
HPAP loans are given priority to people with low incomes, seniors, people with disabilities, and those who already live in D.C. or have worked there for a year.
Under this program, eligible government employees can get help with their down payment. They can receive up to $5,000 that matches their own money, and they might also get a loan of up to $20,000 that they don’t have to pay back right away. First responders and teachers might get extra help, like grants for Washington D.C. first-time home buyers.
Here's what you need to do to qualify:
Apart from the DCHFA programs, people can consider other Washington D.C. first-time home buyer programs, like FHA, VA, and USDA loans. These loans can be helpful because they let you buy a home without needing a big 20 percent down payment. They are backed by the government and are often easier to qualify for compared to other loans. Many lenders offer these types of loans.
Insured by the Federal Housing Administration (FHA), these loans require a minimum down payment of either 3.5 percent (if your credit score is 580 or higher) or 10 percent (if your score is between 500 and 579).
These loans are for active-duty military members, veterans, and their surviving spouses. They are guaranteed by the U.S. Department of Veterans Affairs (VA) and don't need a down payment. They also usually have lower interest rates.
Created by the U.S. Department of Agriculture (USDA), these loans don't need a down payment and are for low- and moderate-income buyers who are purchasing homes in USDA-approved rural areas. While D.C. isn't one of these areas, parts of Maryland and Virginia are.
Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.
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