The DC Open Doors Program provides qualified buyers home purchase loans and down payment in Washington, DC. This is one of the best steps for making homeownership affordable in the District.
Below are some of the most common DC Open Doors FAQs:
Can I qualify for a DC Open Doors mortgage loan if I am not a first-time homebuyer?
Yes, DC Open Doors has a variety of mortgage loan products to serve both first-time and repeat homebuyers.
Can I purchase a home anywhere using the DC Open Doors Program?
You can purchase a home in any neighborhood, area, or Ward of Washington, DC using DC Open Doors. However, DC Open Doors can only assist applicants on homes within the District of Columbia.
Who administers the DC Open Doors Program?
The DC Housing Finance Agency/DCHFA is a uniquely created and organized financial intermediary and administrator of affordable housing programs and resources for the District of Columbia.
Do I need homebuyer education to obtain a DC Open Doors mortgage loan?
DCHFA (DC Housing Finance Agency) encourages homebuyer education and it is required for some of our mortgage loan products. Homebuyer education must meet the National Industry Standards for Homeownership Education and Counseling in order for it to be acceptable for a DC Open Doors mortgage loan.
How do I find a home that will qualify?
We will be happy to assist you in your home selection process. Our first step together will be to have you pre-qualified by a participating lender for the DC Open Doors mortgage loan.
How much of a down payment will I need to purchase a home?
You may be eligible for down payment assistance. Otherwise, Your required minimum down payment will depend upon your home purchase price and your mortgage loan product. Some mortgage loan products require a minimum of a 3.00% down payment, while others require 3.50%.
If you have a question, please let us know and will add it to our DC Open Doors FAQs.