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Navigating the path to homeownership can be challenging, especially in the DMV region, where rising home prices and mortgage rates often pose significant barriers. Fortunately, our team at United Bank has answered the call to help and has provided over $10 million in downpayment assistance over the last three years. Below is a list of some programs available in the DMV aimed at assisting first-time homebuyers, and some general information about each of the programs. The information is high-level; may change; based on income, need, employment, property location, occupancy, or fund availability; and additional terms and conditions may apply. 

Washington, D.C.

• The Home Purchase Assistance Program (HPAP) is administered by the DC Housing Finance Agency (DCHFA) and is available to first-time homebuyers purchasing a home located in the District to provide gap financing to assist with the necessary funds to purchase. The assistance provides down payment and closing cost assistance in the form of a deferred interest-free loan to first-time District homebuyers falling within specified income levels, and the home being purchased must be for the borrower’s primary residence and must be located within the District of Columbia. Currently, for HPAP loans closed after August 23, 2024, closing cost assistance for all eligible households will be up to $4,000, and the per-client gap financing assistance is capped at $202,000. 
• The Employer-Assisted Housing Program (EAHP) offers down payment assistance to eligible District government employees who are first-time homebuyers. Eligible employees can receive matching down-payment funds up to $5,000 and a deferral loan of up to $20,000. First responders and educators may be eligible for matching down payment funds of $15,000 and a deferred recoverable grant of $20,000. 
• The DC Open Doors initiative offers qualifying homebuyers (first-time and repeat) home purchase loans, and down payment and closing cost assistance. The program offers deferred repayable loans for a buyer’s minimum down payment requirement plus below-market interest rates for first trust mortgages for the purchase of a home in D.C. 

Maryland

• The Maryland Mortgage Program (MMP) offers a range of loan products that can provide up to 4% of the property sales price. Programs are available to either first-time buyers or to repeat homeowners. 
• Baltimore Homeownership Incentive Program (B-HiP) offers various incentive programs to homebuyers purchasing in Baltimore City. All incentives require homeownership counseling from an approved counseling agency and a minimum investment from the homebuyer’s own funds towards the purchase of the property.  
• Frederick County Homebuyer Assistance Program (HAP) helps local families with limited resources by providing down payment/closing cost assistance with the purchase of their first home in Frederick County. Assistance require homeownership counseling from an approved counseling agency, and a minimum investment from the homebuyer’s own funds towards the purchase of the property  

Virginia

• Virginia Housing Down Payment Assistance Grants are true grants that do not require repayment and may only be used with eligible Virginia Housing loans. Eligible homebuyers can be first-time or repeat purchasers in Areas of Economic Opportunity, have a qualifying loan from Virginia Housing, and meet income and sales price/loan limits. 
• Virginia Housing Flex Programs provide various levels of down payment and closing cost assistance. For example, Flex 5000 offers $5,000 in assistance, while Flex 3% Loan provides 3% of the first mortgage amount in assistance. These programs are available to first-time and repeat homebuyers. 
• The Virginia Department of Housing and Community Development (DHCD) Homeownership Down Payment and Closing Cost Assistance Program provides flexible gap financing for first-time homebuyers at or below 80% of the area median income. Eligible buyers can receive up to 10% or 15% of the sales price, plus up to $2,500 for closing costs. Assistance is provided as a grant with a mandatory affordability period. 

In addition to the state-provided assistance, United Bank also offers the United Bank Welcome Home Grant across D.C., Maryland, and Virginia. This program provides up to $10,000 in a grant for qualified buyers purchasing in eligible census tracts.

Conclusion

There are a variety of down payment assistance programs in the DMV designed to help first-time (and sometimes repeat) homebuyers overcome financial barriers. Prospective buyers are encouraged to consult with local housing agencies and approved lenders to explore options and determine the best fit for their circumstances. 

At United Bank, we understand every facet of purchasing a home. Our lending specialists have the experience, technology, and solutions to help you make the dream of homeownership become a reality. Connect with us at BankWithUnited.com.