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First Time Home Buyers Washington DC

First-Time Washington DC Home Buyer programs can be confusing to some, but at Edelin Real Estate, we've taken the time to truly understand the intricacies of each to be able to better guide you through your home buying experience.

The DC Open Doors Program-  If you earn less than $123,395 a year and need down payment assistance, this program can be very valuable. If you'd like to have a portion of your loan forgiven and can stay for 5 years, this program makes sense, too. In both scenarios, DC Open Doors can help you. Your credit score must be 640 or more and your debt-to-income ratio needs to be at or under 45 percent to qualify. If you do, you are eligible for a qualifying loan of 3.5 or 3 percent of the price of the home as a down payment. After that, 20 percent of that loan is forgiven for every year you stay in the home - sounds too good to be true - but, it is!

Individual Development Account (IDA) Program- Fall into a lower income bracket? An IDA program starts you with a savings account, in escrow. The amount in your account is then matched, encouraging you to save. You can even receive dollar-for-dollar matches if you attend classes on finances and budgeting before your home purchase.

Home Purchase Assistance Program (HPAP)- HPAP is dependent on a number of factors, from your income, and household size to the amount of your down payment. Qualifying first-time home buyers receive interest-free loans of up to $40,000 and closing costs of up to $4,000.

Employer Assisted Housing Program (EAHP)- First-time home buyers who work for the city of Washington DC, can have down payments matched by up to $1,500 on homes costing $430,000 or less. They also have the option of a deferred loan of up to $10,000. Qualifying DC city workers also get 5 years of income and property tax credits.

Lower-Income Home Ownership Tax Abatement- Looking for a home under $356,000? The Lower-Income Home Ownership Tax Abatement, could get you up to five years without paying property tax. Income requirements must be met to qualify, but it's worth looking into if your home is priced around $350,000.

Many other similar programs exist in the DC Metro area for new and seasoned home buyers looking to maximize their dollar. Please contact us for more information on how you can successfully purchase your next DC home.

10 Most Expensive Open Doors Qualifying DC Homes

350 G St Sw Unit #N112, Washington image
350 G St Sw Unit #N112, Washington $416,900

Freshly painted and move-in ready 1 bedroom, 1 bath condo located near the highly sought-after Wharf in Potomac Place Condos with ASSIGNED GARAGE PARKING and a PRIVATE BA...

  • 1 Beds
  • 1 Baths
  • DCDC2052472 MLS
305 C St Ne Unit #302, Washington image
305 C St Ne Unit #302, Washington — Capitol Hill $415,000

Bright and large 1 bedroom condo in the heart of Capitol Hill! Great for investors or as a pied-a-terre! 95 walkscore and 97 bikescore, steps to the Senate office buildin...

  • 1 Beds
  • 1 Baths
  • DCDC2052740 MLS
  • Capitol Hill Bldg.
1915 6th St Nw Unit #B, Washington image
1915 6th St Nw Unit #B, Washington — Ledroit Park $415,000

This spectacular 1 bed 1.5 bath condo is ideally located on a tree lined section of 6th Street NW in sought after LeDroit Park. Upon entering, you are greeted by a spaci...

  • 1 Beds
  • 2 Baths
  • DCDC2056080 MLS
  • Ledroit Park Bldg.
1325 18th St Nw Unit #709, Washington image
1325 18th St Nw Unit #709, Washington — Central $415,000

What an amazing central Dupont Circle location and such a great building - 24 hour concierge, rooftop deck and pool, sauna and even a private balcony - it's here just in ...

  • 1 Beds
  • 1 Baths
  • DCDC2054910 MLS
  • Central Bldg.
4809 3rd St Nw Unit #4, Washington image
4809 3rd St Nw Unit #4, Washington — Petworth $415,000

This top-floor 2 bed, 2 bath flat in Petworth offers everything your discerning buyer is looking for. With high end finishes throughout, this thoughtfully designed open f...

  • 2 Beds
  • 2 Baths
  • DCDC2055130 MLS
  • Petworth Bldg.
95 Forrester St Sw, Washington image
95 Forrester St Sw, Washington $415,000

Welcome Home! This adorable 2 bedroom 2 bath 3 level semi-detached home was completely renovated in 2019 with over $90,000 in renovations! Everything in this home is les...

  • 2 Beds
  • 2 Baths
  • DCDC2053718 MLS
309 Atlantic St Se, Washington image
309 Atlantic St Se, Washington $415,000

Charming townhome in the bubbling Washington Highlands neighborhood. Perfect starter home for someone who is tired of paying rent. Open floor plan living area with hardwo...

  • 2 Beds
  • 2 Baths
  • DCDC2053690 MLS
2325 High St Se Unit ##4, Washington image
2325 High St Se Unit ##4, Washington $415,000

Gorgeous, newly built condo located in the hearty of Anacostia with incredible city views. This condo features kitchen w/quartz counters, huge breakfast bar, under cab ...

  • 3 Beds
  • 2 Baths
  • DCDC2053086 MLS
3900 14th St Nw Unit #403, Washington image
3900 14th St Nw Unit #403, Washington $415,000 ▼

New price! Convenience, square footage, and parking. This condo has one of the largest floor plans in Randolph Towers. A quick stroll to two Metro stations, dozens of res...

  • 2 Beds
  • 1 Baths
  • DCDC2051912 MLS
1368 Talbert Ct Se, Washington image
1368 Talbert Ct Se, Washington — Anacostia $415,000 ▼

Welcome to the best street in Anacostia! This spacious bi-level condominium is perfectly located in one of DC's hottest neighborhoods. As you step through your private en...

  • 2 Beds
  • 3 Baths
  • DCDC2042760 MLS
  • Anacostia Bldg.
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Jacques Edelin, Realtor
eXp Realty
1441 L St NW, Fl 10-12
Washington, DC 20005
240-498-1987 cell
833-335-7433 office
jacques.edelin@exprealty.com

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