Dc Opens Doors Lenders

Maximum loan amount as of 9 1 20 is 765 600 for conventional loans 510 400 for fha.

Dc opens doors lenders. You will still require a lender or mortgage broker in order to finance the purchase of your home or condo. The dc open doors loan provides zero down payment financing to purchasers in washington dc. Dc open doors makes homeownership in washington d c. We know one of the biggest obstacle to a home purchase can be the required down payment so they now offer down payment assistance that bridge the financial gap.

Dc open doors makes homeownership in washington dc affordable by offering qualified buyers home purchase loans and down payment assistance. To request an extension click here please provide reason the new settlement date eligibility criteria. Take a look below and ask your lender if you qualify for one or more of these programs. The dc open doors program pays for your down payment if you apply and qualify for the program.

Dc open doors mcc dc4me dc map covid 19 remit and hpap are all still operational and applications are being accepted processed and funded closed while the agency staff is working remotely. Extension fees are netted from the loan purchase price when loans are purchased by the master servicer. Dc open doors dcod is your key to homeownership in the city. It does not finance your entire home purchase.

The program offers deferred repayable loans for a homebuyer s minimum down payment requirement in addition to below market interest rates for first trust mortgages for the purchase of homes in the district of columbia. The program offers competitive interest rates and lower mortgage insurance costs on first trust mortgages. A b c d e f g h i j k l m n o p q r s t u v w x y z. The dc open doors program makes homeownership in washington dc affordable by offering qualified buyers home purchase loans and down payment assistance.

Fha fha 203 ks fannie mae 80 ami limit 95 920. See dc open doors lender manual. Dc open doors interest rates fha 2 625 fha plus w dpa 2 875 hfa conventional no dpa 80 ami 2 750 hfa conventional w dpa 80 ami 2 875. Watch the video for more information.

Financial assistance through dcod is provided in the form of a deferred 0. Below is a list of dc open doors approved lenders who work in partnership with dchfa. The program offers deferred repayable loans for a buyer s minimum down payment requirement in addition to below market interest rates for first trust mortgages for the purchase of a home.