Homes by CFE Down Payment Assistance Program

Homes by CFE Down Payment Assistance Program es un préstamo de plusvalía compartida para compradores de vivienda en Washington, District of Columbia, a cargo de City First Homes, Inc. (dba Homes by CFE). Homes by CFE is a Special Purpose Credit Program from City First Homes (a DC-government-supported 501(c)(3), NMLS #1503997) that provides up to 20% of a home's purchase price (max $100,000) as down payment assistance, plus up to $10,000 in closing cost assistance for borrowers at or below 100% MFI. The borrower makes interest-only monthly payments, and the total assistance is repaid when the home is sold or refinanced. The program is designed to expand homeownership for African American/Black and Hispanic/Latinx households in DC. Up to 20% of purchase price (max $100,000) DPA. Up to $10,000 additional closing cost assistance for borrowers at/below 100% MFI. Interest-only repayment during loan term. Loan reduced if borrower contributes more own funds. Designed to close the financing gap for Black and Hispanic/Latinx DC buyers. Los fondos provienen de City First Homes / City First Enterprises (CFE) nonprofit capital; supported by the DC government.

Homes by CFE Down Payment Assistance Program ofrece hasta $100,000 de ayuda. Niveles de ayuda: Up to 20% of purchase price (max $100,000) for borrowers at/below 120% MFI; borrowers at/below 100% MFI may also receive up to an additional $10,000 in closing cost assistance. Aporte del comprador de vivienda: No stated minimum borrower contribution; if borrower contributes more own funds, Homes by CFE reduces the loan amount accordingly. El programa se puede combinar con Borrower must obtain a separate first trust mortgage; lender must accept the Homes by CFE DPA loan terms. Los montos son los máximos publicados por el programa, no una oferta: City First Homes, Inc. (dba Homes by CFE) determina cualquier ayuda individual.

Homes by CFE Down Payment Assistance Program es un préstamo de plusvalía compartida y se reembolsa según los términos que fija City First Homes, Inc. (dba Homes by CFE). El reembolso se activa por Total assistance (down payment + any closing cost assistance) is repaid when the property is sold or refinanced. Borrower makes monthly interest-only payments for the term of the loan until then. La ayuda se registra con un gravamen en posición Second (subordinate to first trust mortgage). Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Homes by CFE Down Payment Assistance Program está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: FHA first-time homebuyer definition (no principal-residence ownership in past 3 years). Exceptions: single parents/displaced homemakers who only owned with a former spouse; persons who only owned a non-permanently-affixed residence or non-code-compliant property. Sobre el crédito, el programa indica: Not published; borrower must qualify for a first trust mortgage. Special Purpose Credit Program designed for borrowers locked out of homeownership. Se requiere un curso de educación para compradores de vivienda, a través de Homeownership counseling (certificate required) plus the mandatory Homes by CFE homebuyer orientation. Requisito de residencia: Property must be purchased in the District of Columbia and occupied as primary residence. SPECIAL PURPOSE CREDIT PROGRAM: borrower must identify as African American/Black or Hispanic/Latinx to qualify (race/ethnicity restricted). After closing, borrower may not have more than six months of cash reserves (excludes 401(k)s). Gaps: exact min credit score, max DTI, annual funding cap, eligible mortgage products, and exact 4-person income dollar limit not published.

Homes by CFE Down Payment Assistance Program limita el ingreso del hogar al 120% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Income must fall below 120% Median Family Income (MFI) for household size, based on DC DHCD Inclusionary Zoning income limits (updated annually). Co-borrower income included. Borrowers at/below 100% MFI qualify for additional $10,000 closing cost assistance. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Homes by CFE Down Payment Assistance Program limita el precio de compra a $584,400. Los tipos de propiedad elegibles incluyen Single Family, Condo y Cooperative.

Homes by CFE Down Payment Assistance Program atiende a compradores de vivienda que compran en Washington, District of Columbia.

Las solicitudes de Homes by CFE Down Payment Assistance Program se tramitan a través de City First Homes, Inc. (dba Homes by CFE), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Apply via online program application; a team member contacts applicant within 48 hours; approval to loan issuance within 3 business days of receiving all documentation. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.