Homeownership


DC Open Doors

DC Open Doors makes homeownership in Washington, DC affordable by offering qualified buyers home purchase loans and down payment assistance. The program offers fully forgivable second trust loans on a buyer’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. Qualified first-time and repeat buyers are eligible for the program. You can access DC Open Doors by working with one of our participating lenders who offer our mortgage loan products. Our participating lenders handle the entire mortgage loan process from application to settlement.

dc open doors

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. 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.


Eligibility & Requirements

Eligibility

  • Open to both first-time and repeat homebuyers
  • Open to all neighborhoods and wards
  • Open to both residents and non-residents of DC

Program Requirements

  • Minimum credit score of 640
  • Maximum income of $145,560
    • Income is based on BORROWER’s income ONLY (not household)
  • Maximum debt-to-income (DTI) ratio of 50% (max DTI for FHA loan is 45%)
  • Rates quoted with 0 points
  • $484,350 maximum 1st trust loan
    • No maximum sales price limit

Informational  Sessions

DC Open Doors hosts two monthly homebuyers’ informational sessions at DCHFA’s headquarters along with a participating lender and realtor.  The FREE sessions take place on the first and third Wednesdays of each month, unless indicated in the schedule below. During the session the process of buying a home is explained from the perspective of the duties of a lender and the job of a real estate agent; combined with how the DC Open Doors program works within the overall home purchasing context. Our lending partners along with their real estate partners also host FREE seminars that take place outside of the Agency and feature DC Open Doors. All upcoming events can be viewed on the calendar below.

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Tue 27

Seminario Para Compradores De Casa En Español

August 27 @ 7:00 am - 8:00 pm UTC+0
Tue 27

Homebuyer Seminar | Tenleytown

August 27 @ 6:00 pm - 7:00 pm UTC+0
Wed 28

Homebuyer Seminar | Dupont

August 28 @ 5:30 pm - 6:30 pm UTC+0
Wed 28

Homebuyer Seminar | Dupont

August 28 @ 7:00 pm - 8:00 pm UTC+0

Social Media

Follow DC Open doors on social media for updates and announcements! Facebook | Twitter

Posted by DC Open Doors on Wednesday, August 21, 2019

We're live in ONE hour! If you can't make it tonight's Homebuyers' Informational Session, follow along on our story tonight. See you there!

Facebook photo
@DCOpenDoors

- 1 day ago

Thank to our seminar presenters #dcopendoors approved lender Adam MacBride @FirstSavingsMor and Steven Lasik… https://t.co/6TNoQuUKHa
h J R
@DCOpenDoors

- 1 day ago

Future DC homeowners are still arriving at @DCHFA for the #dcopendoors seminar. https://t.co/P7vln5R28u
h J R
@DCOpenDoors

- 1 day ago

“Homeownership is the building block of creating wealth.” @DCHFA Business Development Manager Bill Milko… https://t.co/ocwFNFdHOS
h J R
@DCOpenDoors

- 1 day ago

We have great information for future DC homeowners tonight at the #dcopendoors homebuyer’s seminar with Adam MacBri… https://t.co/iUWJL2sHcS
h J R
@DCOpenDoors

- 1 day ago

Can't make it to tonight's Homebuyers' Seminar? Follow along on Facebook Live in one hour! Head to… https://t.co/Chha2pvYPr
h J R

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