Mayor Bowser Urges DC Residents to Take Advantage of Programs to Buy A Home or Keep Their Home

Washington, DC – Right now, Mayor Muriel Bowser and the Division of Housing and Neighborhood Growth (DHCD) urged residents to benefit from two necessary homeownership applications: the Dwelling Buy Help Program (HPAP) and the House owner Help Fund (HAF). Each applications have dates arising that residents ought to learn about: On September 30, the District’s Foreclosures Moratorium will finish, however householders who’ve struggled to maintain up with mortgage and invoice funds can get safety from foreclosures if they’ve utilized to HAF by the deadline. Moreover, on October 1, which marks the beginning of the brand new fiscal yr, the utmost down cost help that residents can obtain by means of HPAP will enhance from $80,000 to $202,000.

“We all know that homeownership is a crucial software for closing racial wealth gaps in our metropolis. We additionally know that for folks with out generational wealth, the concept of turning into and staying a home-owner may be daunting,” stated Mayor Bowser. “However we’ve got applications and assets in our metropolis that may open doorways that folks could not have even thought doable. A method we will maintain extra Washingtonians in DC is by ensuring our neighbors learn about these applications and are utilizing them.” 

The Mayor launched the $50-million House owner Help Fund in June 2022 to offer monetary help to residents struggling to make housing associated funds. Via HAF, eligible householders can apply for grant funding to cowl mortgage funds and different property or housing bills, together with utilities, insurance coverage, web help, and housing affiliation charges. When the foreclosures moratorium ends in September, foreclosures proceedings could resume except householders have an current monetary help software beneath assessment, pending approval, pending cost, or beneath attraction by the HAF program. Extra info, together with eligibility necessities, may be discovered at haf.dc.gov. candidates may name (202) 540-7407 Monday by means of Friday from 9 am to five pm if they’ve questions or need to join with a housing counselor for a digital or in-person appointment. As of August 15, 2022, 875 HAF functions have been submitted and one other 1,244 residents have began functions.

For residents who need to change into householders, HPAP gives interest-free loans and shutting value help to certified candidates to buy single household homes, condominiums, or cooperative models within the District. The mortgage quantity is predicated on a mix of things, together with revenue, family measurement, and the quantity of belongings that every applicant should commit towards a property’s buy. Along with the HPAP down cost help, eligible homebuyers may be eligible for $4,000 in closing value help. Residents can discover extra details about HPAP, together with how a lot help they qualify for and the way to begin the HPAP course of, at dhcd.dc.gov.

The Dwelling Buy Help Program Homebuyer Help Desk displays homebuyer help quantities based mostly on family revenue.

“Proudly owning a house is a solution to construct wealth, particularly in a thriving metropolis like DC, however rising prices have put this objective out of attain for too many residents,” stated Deputy Mayor for Planning and Financial Growth John Falcicchio. “The Dwelling Buy Help Program helps first-time householders obtain this necessary milestone. Additionally it is yet one more instance of how the District can assist shut the racial wealth hole by making homeownership accessible to residents who’ve traditionally been left behind.”

Along with HPAP and HAF, the District has greater than 50 assets to assist District residents thrive as householders, and residents can study extra about these applications at frontdoor.dc.gov.

“After we say the District will not be solely serving to folks acquire homeownership, but additionally keep homeownership, we imply it,” stated Division of Housing and Neighborhood Growth (DHCD) Interim Director Drew Hubbard. “And that will help you in your method and as proof of our dedication, we’ve received a community of community-based organizations to assist. So, name on us wherever you might be in your homeownership journey.”

Mayor Bowser’s FY23 Finances makes extra investments in lots of the District’s housing applications, together with:

• Funding the Dwelling Buy Help Program (HPAP) and the Employer-Assisted Homeownership Program (EAHP) at $21 million and $6 million respectively, a rise of $3.1 million throughout the 2 applications from FY 2022 ranges; 
• Offering Heirs Property Authorized Providers to help 1,000 people from multi-generational households in sustaining their household property after the unique house owner passes; 
• Decreasing the annual enhance cap to property taxes for seniors from 5% to 2%; 
• Growing funding for the Single-Household Residential Rehab program, which helps low-income householders restore their properties;  
• Investing greater than $12 million in residence weatherization, lead and mildew remediation, and FloodSmart properties applications to assist residents make their properties safer, more healthy, greener and extra inexpensive. 

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