The DCHFA Mortgage Program
The DCHFA Mortgage Program, through its Participating Lender network, makes affordable, 30-yr., fixed rate mortgages available to individuals and families seeking to purchase a home in the District. The loans are funded using DC Bond Program proceeds which are made available by the DCHFA. At times, and for qualified buyers, there may be downpayment and/or closing costs assistance available to help defray some of the upfront costs to purchase a home.
Up until now, Bank of America has been the DCHFA’s Master Servicer for our single family mortgage program. Due to the recent news that Bank of America will end their corresponding lending relationships with housing finance agencies nationally, the DCHFA mortgage program will not be accepting new reservations until the first quarter of 2012. This short term suspension of reservations is not due to lack of funding, but rather to a structural change that must be made for the DCHFA mortgage program to continue. We are working diligently to make the necessary program adjustments so that we can begin offering a new and improved mortgage program in 2012. Thank you for your continued interest in the DC Housing Finance Agency.