DCHFA Seeks to Assist With Closing Costs

Jun 07, 2017

In an effort to expand homeownership opportunities in the nation’s capital, the District of Columbia Housing Finance Agency (DCHFA) has introduced three incentives to assist in the mortgage application process.

Under this initiative, DCHFA is offering $1,500 grants to be used towards closing costs for borrowers whose income is at 80 percent or less of the area median income. The agency is also increasing the maximum borrower income for all DC Open Doors loan programs to $132,360 for qualified applicants, and it has also begun offering Freddie Mac’s super conforming mortgages for loans with a maximum level of $636,150.

“Homeownership is the cornerstone of wealth accumulation,” said Todd A. Lee, executive director at the DCHFA, adding that these incentives will help “people purchase a home in the District of Columbia.”

About the author

Phil Hall

Link copied

Published

Jun 07, 2017

Industry News

UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Just weeks after allegations against United Wholesale Mortgage (UWM) were published in an exposé-style report and a class action lawsuit, Hunterbrook Media is once again putting the Michigan lender under the spotlight. On Thursday, the hedge-funded media company published...

Analysis and Data

Homebuying Excitement Is Up Among Veterans

Survey results indicate optimism about housing market among U.S. veterans and service members

Our nation’s heroes are increasingly optimistic about buying homes, new research indicates. The amount of veterans and service members who plan to purchase a home in the next six months was up by 15 percentage points year-over-year, according to the Veterans Homebuying Re...