DC Housing Finance Agency Announces $24,000,000 in Mortgages For District Homebuyers

Apr 02, 2001, 01:00 ET from DC Housing Finance Agency

    WASHINGTON, April 2 /PRNewswire/ -- Through the Housing Finance Agency,
 the City is making $24,000,000 in low cost mortgages available to low and
 moderate income persons buying in the District.  With a grant of Federal HOME
 Funds through the Department of Housing and Community Development, the Agency
 is able to make some loans at 3.75%, (30 year fixed.)
 These very low rate loans are restricted to persons with certain income
 guidelines (for example, a family of four making $66,220.)
     In addition, the Agency is offering a program of Low Rate 6.10% mortgages
 that can be used with Home Purchase Mortgage Assistance (HPAP) closing
 cost/down payment loans and an Assisted Rate of 6.70% that includes a grant of
 4% in closing cost/down payment assistance.  Income is limited to $112,840 for
 3 persons or more and $96,720 for singles or partners in most of the City's
 neighborhoods.  These loans are available to first and second time homebuyers
 in the District.  The Housing Finance Agency's Home Resource Center advises
 potential buyers about all of these programs in their weekly, Walk-in
 Wednesday Workshops held at 10 a.m. or the new Brown Bag Housing Seminars held
 every Friday at 12 p.m.
     States Acting Executive Director, Zoreana Barnes, "In addition to low
 rates, we are offering a variety of FHA, VA, Fannie Mae, GMAC and Freddie Mac
 products to fit almost all pocketbooks.  Our goal is to help increase the
 rates of homeownership in the City among all populations."
     For more information about the new rates and loan programs, the public is
 invited to call 202-777-HOME.
 
 

SOURCE DC Housing Finance Agency
    WASHINGTON, April 2 /PRNewswire/ -- Through the Housing Finance Agency,
 the City is making $24,000,000 in low cost mortgages available to low and
 moderate income persons buying in the District.  With a grant of Federal HOME
 Funds through the Department of Housing and Community Development, the Agency
 is able to make some loans at 3.75%, (30 year fixed.)
 These very low rate loans are restricted to persons with certain income
 guidelines (for example, a family of four making $66,220.)
     In addition, the Agency is offering a program of Low Rate 6.10% mortgages
 that can be used with Home Purchase Mortgage Assistance (HPAP) closing
 cost/down payment loans and an Assisted Rate of 6.70% that includes a grant of
 4% in closing cost/down payment assistance.  Income is limited to $112,840 for
 3 persons or more and $96,720 for singles or partners in most of the City's
 neighborhoods.  These loans are available to first and second time homebuyers
 in the District.  The Housing Finance Agency's Home Resource Center advises
 potential buyers about all of these programs in their weekly, Walk-in
 Wednesday Workshops held at 10 a.m. or the new Brown Bag Housing Seminars held
 every Friday at 12 p.m.
     States Acting Executive Director, Zoreana Barnes, "In addition to low
 rates, we are offering a variety of FHA, VA, Fannie Mae, GMAC and Freddie Mac
 products to fit almost all pocketbooks.  Our goal is to help increase the
 rates of homeownership in the City among all populations."
     For more information about the new rates and loan programs, the public is
 invited to call 202-777-HOME.
 
 SOURCE  DC Housing Finance Agency