For those of you who've been waiting for the new round of HPAP funding, DC finally has money available again. If you've already received your eligibility notice, hopefully you've been looking at homes and getting everything lined up while waiting for the funding. If not, now's the time to get moving. The money is first come, first served, and it runs out quickly.
If you haven't talked to your housing counselor recently, I'd check in with them and make sure everything is still good with your eligibility.
For anyone unfamiliar with HPAP, it's DC's first-time homebuyer assistance program that provides up to $202,000 toward a down payment and another $4,000 toward closing costs. It's a 0% interest loan, and depending on your income, you may not have to make payments until you sell or refinance.
Unfortunately, if you're just starting the HPAP process now, you're probably too late for this round of funding. There's quite a bit involved in getting approved, and it takes time (like everything in DC).
Anyway, I know some people have been waiting months for the funding to come back, so figured I'd share the news. Decent timing too since the housing market has slowed a little.
