Prospective home buyers may be eligible for grants of $1,500 toward closing costs from the D.C. Housing Finance Agency (DCHFA). Borrowers must have an income of 80 percent or less of area median income, which is $108,600, and must use one of the DC Open Doors HFA Preferred loan programs. The grants are available to eligible borrowers who close on their homes between now and Sept. 1.
Additionally, income limits have been raised for DC Open Doors loan programs to a maximum of $132,360. Beginning this month, DCHFA will also offer Freddie Mac “Super Conforming” loans with limits of $636,150, allowing more moderate income households with up to 120 percent of area median income to buy homes in the city.