PROGRAM FUNDS
  • Reservation/Locks – AVAILABLE* from 10:00am-8:00pm Eastern (10-8 EDT)
    • * Market Business days (excluding weekends & holidays)
    • Other system functions are available 24/7
  • Bond Eligible
ELIGIBLE AREAS District of Columbia WARD & Census lookup can be located at http://dcatlas.dcgis.dc.gov/mar/
LOAN TIME LINE REQUIREMENTS DO NOT RESERVE EARLY – REVIEW TIMELINE REQUIREMENTS!

  • DCHFA Detailed Timeline. Click to View.
  • Pre-Closing Package to DCHFA within 15 days of reservation
  • Close and Deliver post closing files to eHP and US Bank within 45 days of reservation
  • Reservation to Loan Purchase by US Bank: 70 days of reservation
ELIGIBILITY CRITERIA
  • First Time Homebuyer.
ELIGIBLE LOAN TYPES
  • Freddie Mac
    • 80% AMI (limit $95,920)
    • Over 80% AMI
DPA
  • DPAL Options: Offered only with PLUS Products. (See Rates Tab)
  • Closing Cost Subsidy click for details
INCOME LIMIT CRITERIA

 

  • Household income = Borrower(s) 1003 Credit Income.
    • $145,560 = Freddie Mac OVER 80% AMI
    •  $95,920 =  Freddie Mac 80% AMI
LOAN AMOUNT LIMITS
  • Must follow Freddie Mac Agency Guidelines on all Loan Amounts.
HOME ACQUISITION LIMITS
  • $525,000
HOME BUYER EDUCATION
  • Required for at least one borrower
FICO/DTI REQUIREMENT
  • FICO – Mid score must be 640 or higher
  • DTI – Max DTI ratio 50% Conventional
CO-SIGNERS
  • Not Permitted
FORMS AND DOCUMENTATION
  • DCHFA & eHP Online, once logged in to eHP system
THE AGENCY
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here
  • If you need assistance accessing the Servicer Lender Guides, Click here.
  • To contact US Bank Lender Help Desk, Click here.
PROGRAM FUNDS
  • 3,750,000  MCC Allocation
LOAN TIME LINE REQUIREMENTS DO NOT RESERVE EARLY – REVIEW TIMELINE REQUIREMENTS!

  • DCHFA Detailed Timeline. Click to View.
  • Pre-Closing Package to DCHFA within 15 days of reservation
  • Close and Deliver post closing files to eHP and US Bank within 45 days of reservation
  • Reservation to Loan Purchase by US Bank: 70 days of reservation
ELIGIBILITY CRITERIA
  • First Time Homebuyer.  See DC Open Doors Lender Manual.
INCOME LIMIT CRITERIA
  • Household income = all household members 18 & older
    • 1 or 2 Person Household: $132,360
    • 3 or more Person Household: $154,420
HOME ACQUISITION LIMITS 
  • Non-Target max $625,764
  • Target max $764,823
HOME BUYER EDUCATION
CO-SIGNERS
  • Not Permitted
FORMS AND DOCUMENTATION
  • DCHFA & eHP Online, once logged in to eHP system
THE AGENCY

DCHFA Lender Manual   Administrator's Guidelines

DC4ME Lender Manual   Administrator's Guidelines