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ReShawna Leaven | Realtor ® Licensed in Virgin...
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ReShawna Leaven | Realtor ® Licensed in Virgin...
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ReShawna Leaven | Realtor ® Licensed in Virgin...
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ReShawna Leaven | Realtor ® Licensed in Virgin...
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DC First Time Home Buyer Programs

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DC Open Doors, HPAP, FHA, Conventional, VA

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DC First Time Home Buyer Programs

  1. 1. ___________________________________________________________________________ ReShawna Leaven | Realtor ® Licensed in Virginia, Maryland and District of Columbia Notary Public (VA & MD) & Corporate Real Estate Benefit Specialist Direct: (703) 474-1754 | Email: reshawnaleaven@kw.com | www.reshawnaleaven.com First Time Home Buyer Programs in District of Columbia Loan Programs by Lenders Chase Home Mortgage DreaMaker Loan – This program offers greater credit flexibility and possible assistance with closing costs. These fixed-rate and ARM loans are available for up to 40 years. For more information and other requirements, click here Suntrust Mortgage Conventional Loan, 97% LTV, 3% down payment, No PMI For more information and other requirements, click here BB&T Mortgage Community Homeownership Incentive Program (CHIP) - 97% LTV, 3% down payment, No PMI, Grants, Loans are allowed, $500 buyer contribution min. For more information and other requirements, click here Wells Fargo Home Mortgage Community Development Mortgage Program - 98% LTV, 2% down payment, No PMI. For more information and other requirements, click here PNC Home Mortgage PNC Homeownership Grant - PNC Mortgage will contribute a maximum of $1,200 to be used for closing costs for qualified homebuyers financing a home purchase through PNC Mortgage. For more information and other requirements, click here Neighborhood Assistance Corporation of America – NACA 100% Financing, No Down Payment, closing costs, points or fees, volunteering is required. For more information and other requirements, click here Navy Federal Credit Union 100% financing up to $1,000,000. No PMI (mortgage insurance) Up to $2,500 towards closing costs paid by lender* For more information and other requirements, click here
  2. 2. ___________________________________________________________________________ ReShawna Leaven | Realtor ® Licensed in Virginia, Maryland and District of Columbia Notary Public (VA & MD) & Corporate Real Estate Benefit Specialist Direct: (703) 474-1754 | Email: reshawnaleaven@kw.com | www.reshawnaleaven.com NASA Federal Credit Union - Available in Maryland, Virginia and District of Columbia (DC) 100% financing up to $650,000. No PMI (mortgage insurance) Up to $2,500 towards closing costs paid by lender* For more information and other requirements, click here Northwest Federal Union 100% Homebuyers Edge Program - Conventional Loan, 100% Financing, available to purchase a single family, townhome and condominium, PMI required. Max loan amount $417,000. For information and other requirements, click here 3% Down Payment Loan Program - Conventional Loan, 97% LTV, 3% down payment, PMI required. For more information and other requirements, click here Down Payment & Closing Cost Assistance Programs Home Purchase Assistance Program Up to $40,000 in gap financing assistance and an additional $4,000 in closing costs assistance. The HPAP 0% interest loan is deferred for the first five-years, and amortized over 40 years. For more information and other requirements, click here Employer Assisted Housing Program (EAHP) Matching Down Payment up to $1,500 and a deferred loan of up to $10,000. Loan amount max $417,000.DC Government employees include the personnel at all DC Government agencies, including the Metropolitan Police Department and DC Public Schools, and employees at DC public charter schools. For more information and other requirements, click here District of Columbia Housing Finance Agency - DCHFA DC Open Doors Program - Loan up to $417,000, Income up to $123,395, all DC residential properties eligible, 100% of down payment covered through program, FHA or Conventional financing Community Stability Program with FHLB Atlanta Bank
  3. 3. ___________________________________________________________________________ ReShawna Leaven | Realtor ® Licensed in Virginia, Maryland and District of Columbia Notary Public (VA & MD) & Corporate Real Estate Benefit Specialist Direct: (703) 474-1754 | Email: reshawnaleaven@kw.com | www.reshawnaleaven.com Up to $5,000 in down payment and closing costs assistance. For more information and other requirements, click here First Time Home Buyer Program with FHLB Atlanta Bank Up to $5,000 in down payment and closing costs assistance. For more information and other requirements, click here CityLift Program with Wells Fargo Mortgage and NeighborWorks $20,000 for down payment, City of Washington DC or Prince Georges County. 0% interest rate, program is forgivable 20% each year for 5 years. Open to all purchasers but if you own a home, it must be sold prior to settlement. For more information and other requirements, click here Veteran Home Buying Incentives Veteran Home Buying Program with FHLB Atlanta Bank Up to $7,500 in down payment and closing costs assistance. For more information and other requirements, click here
  4. 4. ___________________________________________________________________________ ReShawna Leaven | Realtor ® Licensed in Virginia, Maryland and District of Columbia Notary Public (VA & MD) & Corporate Real Estate Benefit Specialist Direct: (703) 474-1754 | Email: reshawnaleaven@kw.com | www.reshawnaleaven.com Checklist of Mortgage Documentation Here is a checklist for your Mortgage Loan . . . . . . . . .gathering these items prior to applying for a home mortgage will speed the processing of your loan. An incomplete or unsigned application may delay processing. Here are the items that your lender will request with your loan: o 1003 - Uniform Residential Mortgage Application, click here o Copy of your driver’s license o Copy of your social security card o Provide copies of the two most recent pay -stubs covering the last 30 days of employment with year- to -date earnings. o Provide a copy of the last two (2) years Tax Returns and W-2 statements. o Copies of last two (2) months bank statement. o Copies of statements for 401k, retirement funds, stock certificates, life insurance (if applicable) o If self--employed or if rental income is being used to qualify, supply last 2 years of Federal tax returns with all pages, schedules, and attachments. o If using income from other sources (i.e. Social Security, Pension, Alimony or Child Support) provide a copy of evidence of continuation, such as an awards letter or divorce decree. o Provide a copy of the executed and signed purchase agreement. o Provide the Realtor’s name and number – Hopefully, you will select me as your real estate professional. ReShawna Leaven (703) 474-1754 o Provide the name, agent and phone number of homeowner’s insurance agent. o If currently renting, provide landlord name and contact information covering a 2 year residence history.

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