Homeownership


DC Open Doors

DC Open Doors makes homeownership in Washington, D.C. affordable by offering qualified buyers home purchase loans, down payment and closing cost assistance. 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 a home in the District of Columbia. Qualified first-time and repeat homebuyers 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 a Down Payment Assistance Loan (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 in the form of a deferred 0% non-amortizing (no monthly payments) loan that is due a payable upon any one fo the following: thirty (30) years from the date of loan closing; sale or any transfer (by gift or otherwise) of the property to another person, business, or entity; property ceases to be your principal residence, or refinancing your first trust mortgage.


Closing Cost Grants

Qualified applicants can also receive up to $2,500 in closing cost assistance through DC Open Doors. Borrowers making 80 percent or less of the Area Median Income (AMI) can receive $1,500 in assistance, and borrowers earning 50 percent or less AMI can receive $2,500. Grants are payable toward closing costs on DC Open Doors HFA Advantage loans only. Grants are applicable for HFA Advantage loans with and without down payment assistance. The qualified homebuyer must be purchasing a home in the District of Columbia.


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 19

DC First Time Homebuyer | Tenleytown

November 19 @ 6:00 pm - 7:00 pm UTC+0
Tue 19

DC First Time Homebuyer Programs

November 19 @ 6:00 pm - 7:00 pm UTC+0
Tue 19

DC First Time Homebuyer Programs

November 19 @ 6:00 pm - 7:00 pm UTC+0
Wed 20

Homebuyer Seminar | Dupont

November 20 @ 5:30 pm - 6:30 pm UTC+0
Wed 20

Smart Homebuyer Workshop

November 20 @ 6:30 pm - 8:00 pm UTC+0

Social Media

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

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@DCOpenDoors

- 5 hours ago

RT @DToaffHomeLoans: #DCHFA #Seminar #Meetup #DC #LoganCircle #Mortgage #DMV Check out this Meetup: Smart Homebuyer Workshop (Wine & Cheese…
h J R
@DCOpenDoors

- 5 hours ago

Let Melissa rich and John Coleman walk you through the basics of homebuying in the District! Join them tomorrow at… https://t.co/BMSoXVHec2
h J R
@DCOpenDoors

- 5 hours ago

"The market for new construction condos is strong and anticipated to get stronger in the Washington region" -@washingtonpost
h J R
@DCOpenDoors

- 7 hours ago

We hope your week is off to a good start! Here are today's interest rates: #mortgagerates #interestrates… https://t.co/RMwZdvxHmD
h J R

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