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First-time homebuyer program runs out of funds in DC
The District's Home Purchase Assistance Program is out of money - again. $26 million in HPAP funds became available in October and ran out this week.
WASHINGTON - The District's Home Purchase Assistance Program is out of money again.
$26 million in HPAP funds became available in October 2023 and ran out this week.
An "Open House" sign outside of a home in Washington, DC, US, on Sunday, Nov. 19, 2023. The National Association of Realtors is scheduled to release existing homes sales figures on November 21. Photographer: Nathan Howard/Bloomberg via Getty Images
Under the program, eligible low-income first-time homebuyers may get up to $202,000 in down payment assistance.
DC's Home Purchase Assistance Program is out of money
The DC Home Purchase Assistance Program is out of money until the fall. This is now leaving residents — who are in need of financial help to buy a house — upset and stuck in a rut.
There are reports that more funding could be available when D.C.'s next fiscal year begins in October.
When the funds ran out last summer, the D.C. Department of Housing and Community Development offered to assist prospective homebuyers to find other down payment assistance sources, such as DC Open Doors and The Neighborhood Assistance Corporation of America (NACA).
All of the District’s housing resource programs are available at frontdoor.dc.gov.