DC REAL ESTATE LENDING

Choosing a mortgage loan program is an important first step towards buying DC real estate. Discuss these programs with your mortgage lender.

Conventional Mortgage Loans
  • Fixed Rate
  • Adjustable Rate
  • Jumbo Loans
  • 5/5 ARM (adjustable rate)
  • Physicians Loan
  • Attorney Loan
First Time Homebuyer Loans
  • Home Ready
  • DC Open Doors
  • 100% Financing
  • 5/5 ARM (adjustable rate)
Government-backed Mortgage Loans
  • VA (Veterans Administration) zero downpayment
  • FHA (Federal Housing Administration) 3.5% downpayment
DC Mortgage Assistance Loans

Open Doors

The DC Open Doors program offers qualified buyers mortgage loans and down payment assistance loans (DPAL). The program is available to applicants who do not currently own a home and wish to purchase in the District. They must have an individual borrower income no greater than $125,580. and a credit score of 680 or higher for loans with a 5% down payment. Some loan programs require homeownership classes. Find details at DC Open Doors.

HPAP

The HPAP program is run by the DC Department of Housing and Community Development. It offers financing assistance from $10,000. to $50,000. with closing cost assistance of $4,000 for first-time buyers in Washington DC. The amount of funding available is based on income. The program provides a 40-year loan with deferred payments for the first five years. More information is available on the DCHCD website.
Ask An Expert
There are many specialized mortgage loan programs and the offerings change over time. The best way to find a mortgage loan program that fits your specific needs is to consult a mortgage lending expert. Here are the mortgage professionals in the DC Metro Area who have provided our clients with great service and products in 2018. It is advisable to get more than one mortgage loan pre-approval. Lending institutions offer different programs. You’ll want to match a program to your needs and the home type you purchase.
  • Brian Farasy

Branch Manager

NMLS ID# 728159

SWBC Mortgage Corporation

11150 Sunset Hills Road Ste. 308

Reston VA 20190

Phone: (443) 574-2400

Mobile: (240) 277-4422

Fax: (443) 574-2401

www.swbcmortgage.com/Brian-Farasy

 
  • Chad Loube

Sr. VP/Branch Manager

George Mason Mortgage

700 King Farm Blvd., #620 Rockville, MD 20850

Phone: (240) 268-1918

Cell: (301) 452-7399

Fax: (703) 653-8157

NMLS# 675038

cloube@gmmllc.com

 
  • Daniel Sconce

Senior Loan Officer

NMLS #322281

7811 Montrose Road, Suite 501, Rockville, MD  20854

Cell: 301-928-0939   Fax: 703-880-0603

dsconce@sandyspringbank.com

www.ssbDanSconce.com

 
  • Christopher J Cox

First Savings Mortgage

Vice President Mortgage Banking

NMLS ID: 520211

Capitol Hill Residential Mortgage Office

659 C Street SE

Washington, DC 20003

202-543-6830<tel:202-543-6830> Phone

202-302-0070<tel:202-302-0070> Mobile

chriscox@firstsavings.com

 
  • Kari Sansom-Elwood

BB&T Mortgage Branch Banking & Trust Co.

Mortgage Loan Officer, Assistant Vice President

301-493-8361 office

301-767-6354 cell

ksansom@bbandt.com

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