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| Frist-Time Homebuyer Assistance Table for Downpayment and Closing Cost |
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(Effective June 15, 2007) |
| NOTE: |
| ** "Desired purchasing Power," the purchasing power intended to be afforded to income-eligible four-person household = $236,000. |
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| ** Closing Cost Assistance for all eligible households = 4% of purchase price or $7,000 whichever is less. Closing Cost Assistance is provided to eligible households distinct from and in addition to Downpayment Assistance... |
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| ** Per Client Downpayment Assistance Cap = $70,000. |
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| Calculated Maximum Downpayment Assistance Available per Household Income by Household Size is as follows: |
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| Household Size |
1 |
2 |
3 |
4 |
5 |
6 |
6 |
8 |
|
|
|
| Very Low Income households |
| $70,000 |
$33,100 |
$37,800 |
$42,550 |
$47,250 |
$51,050 |
$54,800 |
$58,600 |
$62,350 |
|
| Low Income households |
| $70,000 |
$41,300 |
$47,200 |
$53,100 |
$59,000 |
$62,700 |
$66,400 |
$70,050 |
$73,750 |
| $67,750 |
$42,000 |
$48,000 |
$54,000 |
$60,000 |
$63,750 |
$67,500 |
$71,250 |
$75,000 |
| $64,900 |
$42,700 |
$48,800 |
$54,900 |
$61,000 |
$64,800 |
$68,650 |
$72,450 |
$76,250 |
| $62,100 |
$43,400 |
$49,600 |
$55,800 |
$62,000 |
$65,900 |
$69,750 |
$73,650 |
$77,500 |
| $59,300 |
$44,100 |
$50,400 |
$56,700 |
$63,000 |
$66,950 |
$70,900 |
$74,800 |
$78,750 |
|
| $56,500 |
$44,800 |
$51,200 |
$57,600 |
$64,000 |
$68,000 |
$72,000 |
$76,000 |
$80,000 |
| $53,700 |
$45,500 |
$52,000 |
$58,500 |
$65,000 |
$69,050 |
$73,150 |
$77,200 |
$81,250 |
| $50,900 |
$46,200 |
$52,800 |
$59,400 |
$66,000 |
$70,150 |
$74,250 |
$78,400 |
$82,500 |
| $48,100 |
$46,900 |
$53,600 |
$60,300 |
$67,000 |
$71,200 |
$75,400 |
$79,550 |
$83,750 |
| $45,300 |
$47,600 |
$54,400 |
$61,200 |
$68,000 |
$72,250 |
$76,500 |
$80,750 |
$85,000 |
| $42,500 |
$48,300 |
$55,200 |
$62,100 |
$69,000 |
$73,300 |
$77,650 |
$81,950 |
$86,250 |
|
| $39,700 |
$49,000 |
$56,000 |
$63,000 |
$70,000 |
$74,400 |
$78,750 |
$83,150 |
$87,500 |
| $36,900 |
$49,700 |
$56,800 |
$63,900 |
$71,000 |
$75,450 |
$79,900 |
$84,300 |
$88,750 |
| $34,050 |
$50,400 |
$57,600 |
$64,800 |
$72,000 |
$76,500 |
$81,000 |
$85,500 |
$90,000 |
| $31,250 |
$51,100 |
$58,400 |
$65,700 |
$73,000 |
$77,550 |
$82,150 |
$86,700 |
$91,250 |
| $28,450 |
$51,800 |
$59,200 |
$66,600 |
$74,000 |
$78,650 |
$83,250 |
$87,900 |
$92,500 |
| $25,650 |
$52,500 |
$60,00 |
$67,500 |
$75,000 |
$79,700 |
$84,400 |
$89,050 |
$93,750 |
|
| $23,950 |
$52,900 |
$60,500 |
$68,050 |
$75,600 |
$80,350 |
$85,050 |
$89,800 |
$94,500 |
|
| Moderate Income households |
| $22,850 |
$53,200 |
$60,800 |
$68,400 |
$76,000 |
$80,750 |
- |
- |
- |
| $20.050 |
$53,900 |
$61,600 |
$69,300 |
$77,000 |
$81,800 |
- |
- |
- |
| $17,250 |
$54,600 |
$62,400 |
$70,200 |
$78,000 |
$82,900 |
- |
- |
- |
| $14,450 |
$55,300 |
$63,200 |
$71,100 |
$79,000 |
$83,950 |
- |
- |
- |
| $11,650 |
$56,000 |
$64,000 |
$72,000 |
$80,000 |
$85,000 |
- |
- |
- |
| $8,850 |
$56,700 |
$64,800 |
$72,900 |
$81,000 |
$86,050 |
$86,050 |
- |
- |
| $6,000 |
$57,400 |
$65,600 |
$73,800 |
$82,000 |
$87,150 |
$87,150 |
- |
- |
| $3,200 |
$58,100 |
$66,400 |
$74,700 |
$83,000 |
$88,200 |
$88,200 |
- |
- |
| $400 |
$58,800 |
$67,200 |
$75,600 |
$84,000 |
$89,250 |
$89,250 |
- |
- |
| $0* |
$72,800 |
$83,200 |
$93,600 |
$103,950 |
$110,450 |
$110,450 |
$110,450 |
$110.450 |
|
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| * Moderate income households in this uppermost range of income are eligible for Closing Cost Assistance only. |
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| Assistance levels are determined for four-person households by calculating standard mortgage qualification levels for each $1000 of income and subtracting each such mortgage level amount from the "Desired Purchasing Power" (as defined above). Household incomes eligible for assistance for household sizes other than four persons are adjusted as shown.. |
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Click here for the entire listing of DC 1st Time Home buying and Counseling Services Programs..
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