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DC4ME

DC4ME provides full-time D.C. government employees a reduced interest rate mortgage. D.C. employees also have the option of 3% down payment assistance with a 0% deferred subordinate loan.

DC4ME is offered to District Government employees, including employees of District Government-based Instrumentalities, Independent Agencies, District of Columbia Public Charter Schools, and organizations, provided the applicant/borrower’s employer falls under the oversight of the Council of the District of Columbia.

Eligibility

  • Applicants for DC4ME must be a first time homebuyer. The applicant must also have had no ownership interest in a primary residence during the most recent three year period and no ownership interest in any property of any type at the time of settlement.
  • At least 1 applicant must be a current full-time District Government employee. (This includes employees of District Government-based Instrumentalities, Independent Agencies, District of Columbia Public Charter Schools, and Organizations, provided the applicant/borrower’s employer falls under the oversight of the Council of the District of Columbia.) 

Program Requirements 

  • Maximum household income may not exceed 120 percent Area Median Income (AMI), currently referred to as Washington Metropolitan Statistical Area Median Family Income (MFI)
  • Maximum loan amount may not exceed $484,350
  • Maximum sales price may not exceed $525,000
  • Borrower must have a minimum credit score of 640
  • Borrower may not have a Debt to Income ratio that exceeds 50 percent
  • At least one borrower must take a Homebuyer Education Class and provide proof of completion to DCHFA

Maximum Annual Income 

Household Size120% of MFI
1$105,850
2$120,950
3$136,100
4$151,200

3 Things Should Know About DC4ME

  1. Applicants may combine DC4ME with other District home purchase assistance programs, if eligible including: the District of Columbia Employer Assisted Housing Program (EAHP) and the District of Columbia Home Purchase Assistance Program (HPAP).
  2. Co-signors are not accepted for the DC4ME  program.
  3. There is no minimum tenure to qualify for DC4ME; however, you must show proof of your employment start. DCHFA will not accept offer letters as proof of employment.

Questions

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About Dana Ash-McGinty 179 Articles
Dana Ash-McGinty is the Principal Broker of ASH | MCGINTY, a Washington, DC Real Estate Brokerage. This real estate maven has 15+ years experience in residential, commercial and land sales in addition to multi-state residential renovation, re-zoning, and condo conversion projects. A sought after real estate authority, she has been featured on CNN and in various real estate and financial publications. Dana is married to the highly esteemed Dr. Dana W. McGinty, a Washington, DC based internal medicine physician. They are often referred to as "The Danas".

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