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DC Open Doors Down Payment Assistance

DC

Available Assistance

DC Open Doors offers different amounts of down payment assistance depending on the home loan type; 3.5 percent on an FHA Plus loan, and 3 percent on HFA Preferred/Advantage. This assistance is in the form of a zero-interest, non-amortizing loan, and needs to be repaid only if the borrower sells, refinances, or moves out of the home before the first 5 years.

Eligibility Requirements

In order to be eligible for the DC Open Doors program, all applicants must meet certain requirements. Their annual household income must fall under the program’s maximum limit, $132,360 (This amount was accurate at the time of publication and may no longer be current - visit the program website for updated information), and they must have a credit score of at least 640. Borrowers with an FHA Plus loan must have a maximum debt-to-income ratio of 45 percent, while the limit for those with an HFA Preferred/Advantage loan is 50 percent. First-time homebuyers applying for the Open Doors program must also complete a pre-purchase homebuyer education course.

Property Guidelines

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