Home | Newsletter | Advertise

New Homebuying Program Announced for DC Government Employees

  • June 10th 2019

by Nena Perry-Brown

✉️ Want to forward this article? Click here.

DC is getting another tool in the homebuying assistance arsenal.

This morning, Mayor Muriel Bowser and EagleBank President and CEO Susan Riel announced a new program to make homebuying more affordable for DC government employees. The program, which can be layered with the Home Purchase Assistance Program and the city employee-specific Employer-Assisted Housing Program, would offer users a discount on mortgage interest rates, as well as potential credits toward closing costs.

The mortgage loan program would apply to conventional loans, as well as home equity lines of credit, Federal Housing Administration loans, DC Open Doors loans, and 203k rehabilitation loans with a maximum value of 110 percent or $726,525 post-rehabilitation. Unlike typical homeownership assistance programs, DC government employees who are already homeowners would not be ineligible. 

The program is expected to begin in the coming weeks.

Note: The article has been updated with information courtesy of the Office of the Deputy Mayor for Planning and Economic Development.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new-homebuying-assistance-program-announced-for-dc-government-employees/15510.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse