Downpayment assistance program in DC

By
Real Estate Agent with 301.437.0092
http://actvra.in/6YQ

Condo conversions are taking place all over DC, however these are geared toward low-to-moderate income households. These are modern condos with open floor plan and beautifully layed out units ready for new owners.   A non-profit organization, with the support of the local governement, has created an opportunity to assist low - moderate income household with downpayment assistance.  Their goal is to make housing permanently affordable by avoiding rising home prices through shared appreciation.

Benefits of the program:

  • Lowers monthly mortgage payments
  • Reduces out-of-pocket expenses
  • Eliminate private mortgage insurance fees
  • Possibility of owning a home for similar cost of renting
  • Predictable housing costs
  • Each monthly payment builds long-term wealth
  • Enjoy tax-deductible interest payments and other homebuyers tax credit

 

Sharing Appreciation to Support the Community:

If you buy their home and then choose to sell, you will receive 100% of pricipal payments and down payment, the value of any improvements to the home and 25% of market appreciation.

Income requirement:  Maximum income approx. $124,200 for family of 4. This is adjustable based on household size.

To find out more about this affordable housing program please contact Jasmine Jackson at 301-437-0092.

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affordable housing in dc
dc affordable housing programs
down payment assistance
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Show All Comments
Rainmaker
372,454
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL

It is good to know there are options for today's home buyers to help them obtain their dream of home ownership.

Mar 22, 2011 12:36 PM #1
Rainer
26,463
Jasmine Jackson
301.437.0092 - Washington, DC
Global Realtor

Absolutely Pat! Thanks.

Mar 22, 2011 12:39 PM #2
Ambassador
1,550,634
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Jsamine, it is great you found out about this program. Any kind of assistance is super and more buyers can qualify.

Mar 22, 2011 01:08 PM #3
Rainmaker
524,670
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

Great information about the downpayment assistance program in DC.  I am posting it on our facebook page as well.

Mar 22, 2011 01:20 PM #4
Rainer
26,463
Jasmine Jackson
301.437.0092 - Washington, DC
Global Realtor

Gary, yes, we are here to help make dreams a reality and hopefully this will help someone. Thanks!

Mar 22, 2011 01:21 PM #5
Rainer
26,463
Jasmine Jackson
301.437.0092 - Washington, DC
Global Realtor

Thanks Stacey! Please feel free to post it.

Mar 22, 2011 01:23 PM #6
Rainer
122,248
Cory Barbee
San Diego, CA
Broker (760) 563-4022

Great post...just tweeted this out..hope it helps..you can follow me @corybarbee..

Mar 22, 2011 04:47 PM #7
Rainer
26,463
Jasmine Jackson
301.437.0092 - Washington, DC
Global Realtor

Thanks for posting Cory, I appreciate you helping me get the word out and I will certainly check you out!

Mar 22, 2011 08:06 PM #8
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Rainer
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Jasmine Jackson

Global Realtor
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