Down Payment Assistance
We know your biggest obstacle to a home purchase can be the required minimum down payment so DC Open Doors offers down payment assistance loans (DPAL) that bridge the financial gap between the purchase price of your home and your first trust mortgage loan.
If you qualify, you can obtain a DPAL for the full amount of your required minimum down payment, substantially reducing your upfront out-of-pocket expense! See the two examples below.
Currently, DC Open Doors offers its DPAL at a 0% interest rate and it is non-amortizing so you are not required to make monthly payments on it. The loan is only repayable if you sell or refinance your home, or if you no longer occupy it as your primary residence.
Down Payment Assistance Loan Highlights