The new DC4ME PLUS is a loan program will be available to certain DC employees. The eligibility requirements for this new program are as follows:
- The new DC4ME PLUS is a first-time homebuyer mortgage program offered to current full-time District government employees. Including employees of district government-based instrumentalities, independent agencies, District of Columbia Public Charter Schools and organizations.
- The applicant/borrower’s employer must falls under the oversight of the Council of the District of Columbia.
- Applicants must be a 1st time home buyer
- The new DC4ME PLUS maximum household income may not exceed 120% of AMI
- The first trust will be a 30 year fixed rate conventional Freddie Mac HFA Advantage loan. And must follow US Bank HFA Advantage guidelines.
- Maximum 50% DTI; maximum loan amount of $484,350; maximum sales price of $525,000.
- Under the new DC4ME PLUS PROGRAM at least 1 borrower must have completed a home buyer education class within 1 year of settlement.
- Eligible borrowers may borrow up to 3% of the purchase price. The DPAL is a repayable non-amortizing 0% interest, deferred 2nd lien (30-year term or upon sale of property).
- MCC’s are not compatible with this product
For more information contact us for a referral to one of our Senior Loan Officers to assist you…