Monday, April 27, 2009

Affordable Housing - HPAP

People with low to moderate incomes (including artists and other creatives) might think that they’ve been priced out of the housing market in DC, but in fact this could be a good time to buy a home in the city. Along with historically-low interest rates and falling home values, both the federal and city governments provide a wide variety of programs to assist people with modest incomes to find the house of their dreams, from providing low-interest loans to property tax exemptions.

The Home Purchase Assistance Program is administered by the DC Department of Housing and Community Development. Eligible participants could qualify for $44,000 in down payment and closing assistance.

Several community organizations hold regular training sessions and the Latino Economic Development Corporation is holding an orientation session on Saturday May 9 from 10 am - noon. From their web site:
Learn how you can obtain up to $44,000 in downpayment and closing cost assistance for the purchase of your first home in DC. In this brief session you will learn the steps for applying for this 0% loan from the DC government and the process of home purchase. Afterwards you will be ready for your first appointment with an LEDC housing counselor who will assess your individual situation and goals.

Fore more information visit the LEDC web site here and click on Events and Trainings.