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HPAP:
First-Time Home Buyer Financial Assistance |
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Home Purchase Assistance Program (HPAP) provides down payment
and closing costs assistance to first-time home buyers
in the District of Columbia. The interest-free and low-interest
HPAP loans are used to initiate the purchase of houses,
condominiums, or cooperative apartments. Residents qualifying
for the program must fall into very low, low and moderate-income
categories (see below). These home buyers must additionally
have credit ratings making them eligible for private first
trust mortgages. |
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Persons in
Household |
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Very
Low
Income |
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Lower
Income
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Moderate
Income |
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1 |
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$31,250 |
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$50,000 |
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$68,750 |
|
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2 |
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$35,700 |
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$57,200 |
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$78,650 |
|
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3 |
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$40,200 |
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$64,300 |
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$88,400 |
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4 |
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$44,650 |
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$71,450 |
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$98,250 |
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5 |
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$48,200 |
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$75,900 |
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$104,350 |
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6 |
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$51,800 |
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$80,400 |
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$104,350 |
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7 |
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$55,350 |
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$84,850 |
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$104,350 |
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8 or
more |
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$58,950 |
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$89,300 |
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$104,350 |
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The HPAP initial application
process is administered by the Greater
Washington Urban League.
After the application of a prospective home owner has been
approved, DCCH Affordable Housing personnel will help the
buyer to find and negotiate with developers of Affordable
Housing properties to close on a purchase. |
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2005
HPAP Income Limits by Persons in Households |
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InformationSource:
DC Housing Authority, May 18 2005 |
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Income
limits are based on the 2005 Median Family Income of $89,3000
for the Washington Metropolitan Statistical Area, established
by the Secretary of the US Department of Housing and Urban
Development.
The limit amounts have been established by the DC Department
of Housing and Community Development, and calculated based
on Section 2510 of the HPAP Program rules.
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