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 Home Purchase Assistance Program (HPAP)
The Home Purchase Assistance Program was established by the DC Department of Housing and Community Development (DHCD) to assist lower and moderate income District residents in purchasing housing in Washington, DC. HPAP provides financial assistance to qualified applicants who are first time homebuyers to purchase single-family homes, condominiums and cooperative apartments in the District of Columbia. The financial assistance consists of “second trust” loans of up to $40,000, on approval, which can be used toward down payment and closing costs. HPAP loans are awarded to a limited number of eligible applicants each year, based on DC budgetary allocations.
If you are interested in participating in the HPAP program, choose one of the following community-based organizations. You will need to set up an appointment and begin collecting financial documents to bring with you.
Other Resources:
- Your local bank or lending institution
Many area banks and lending institutions offer educational programs for first time homeowners. Contact your local financial institution for more details.
- Guides for First Time Homebuyers
“Opening the Door to a Home of Your Own” is a free guide for first-time homebuyers published by the Fannie Mae Foundation. It is available in English, Spanish, Chinese, Korean, Vietnamese, Russian, and Haitian-Creole. Call 1-800-688-4665 or visit www.homepath.com. This site includes lists of community based organizations that work with first time homebuyers. It also features a calculator that computes monthly payments based on different mortgage amounts and a glossary of housing terms that might be unfamiliar to you.
- DC Housing Finance Agency
http://www.dchfa.org/
815 Florida Ave. NW Washington, DC 20001
Tel: 202-777-1600
The DCHFA Homebuyer Resource Center provides information on homebuyer education, credit counseling, and affordable mortgages for low and moderate income homebuyers.
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