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DC Open Doors Program offers first-time and repeat home buyers a Down Payment Assistance Loan that does not need to be paid back.

DC’s Housing Finance Agency, or the DCHFA, reconfigured its DC Bonds program called “DC Open Doors,” for new first time home buyer assistance, four years ago this summer. The program, which has given over $200 million in down payments for homes in the city, is now even more accessible. Those working in DC who want to live downtown but have trouble making the down payment can utilize this program.

The program and its funding are available to first time home buyers and repeat home buyers. The DC Open Doors Program is constructed around what’s called a “Down Payment Assistance Loan,” one that doesn’t have to be paid back.…

Home loan programs that are offered for teachers in Washington, DC.

If you're a teacher in the D.C. area, did you know there are home loan programs available for you? There are many incentives too! Programs involve up to $800 in reduced closing costs for teachers and discounted real estate agent fees—combined with the discounted closing costs you can get up to $1,600 in credits while closing.

There’s priority loan processing and donations to your school. Up to $400 in donations can be given to your preferred school program. Teachers can even choose what particular program they want to give to—music, arts, science lab, you name it!

There’s also homes for heroes programs, or discounts of up to 25 percent of your realtor fee when you’re buying and…

The pros and cons of the Federal Housing Administration (FHA) loan.

At times homebuying can get overwhelming, especially when it comes to loans. We’re here to make things easier for you by sharing the pros and cons of FHA loans.

FHA loans are government insured loans from the Federal Housing Administration. This means FHA guarantees your loan but doesn’t actually lend out the money. When you take out loans, they need to be with FHA approved lenders. Some benefits of FHA loans include less down payment required, more forgiving debt to income ratio and less restrictions on bankruptcy and foreclosure.

One of the main advantages of an FHA loan is that a very large down payment is unnecessary. Loans can be as low as 3.5 percent, which is great for…