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The DC Housing Finance Agency (HFA) has a new program called DC Open Doors to help with down payment costs. Generally, such programs are targeted to low income residents, but DC Open Doors assists potential homeowners with incomes up to $123,395.

With an Area Median Income of $107K and an average home price over $450K, HFA realized that they needed a program to encourage homeownership and help people over the hurdle of a down payment. The $123,395 income limit only applies to the borrower, not the entire household.

DC Open Doors is a mortgage program offered through participating lenders, including Wells Fargo Bank and First Home Mortgage, among others. HFA offers residents a down payment assistance loan (DPAL) for 3% (with an HFA Preferred loan)…

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