Post on 07-Apr-2018
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D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T
HomePurchaseAssistanceProgramEnhancementNeighborhoodStabilizationProgram2(NSP2)
HPAPETheHomePurchaseAssistanceProgram(HPAP)EnhancementNeighborhoodStabilizationProgram2
(NSP2),referredtoasHPAPE,willhelpstabilizethehousingmarketandrevitalizeneighborhoods
hardesthitbyhighratesofforeclosureandvacantproperties. Theprogramwillcreatehousing
opportunitiesforlowandmoderateincomeresidentsinthethreehardesthittargetedneighborhoods:
Deanwood,IvyCity/TrinidadandHistoricAnacostia.
UnderHPAPE,HomePurchaseAssistanceProgramdownpaymentassistancefundingincreasesfromits
currentmaximumamountof$44,000to$77,000(includingclosingcosts)inthethreetargetedareas. The
amountwillbedeterminedbythehouseholdsizeandincome.Fundingforthisprogramisavailableona
firstcomefirstservebasisandendsonFebruary11,2013. TheHPAPEAssistanceTableisavailable
onlineatdhcd.dc.gov.
HPAPEcanbeusedinconjunctionwithotherDHCDhomebuyerprograms,includingtheEmployer
AssistedHousingProgram(EAHP),theNegotiatedEmployeeAffordableHousingProgram(NEAHP),andthe
HomePurchaseRehabilitationPilotProgram.
HPAPETargetAreasThequalifyingcensustractnumberswithineachtargetareaarelistedbelow. Nootherareasareeligible
fortheHPAPEfunds.Mapsofthesetargetareasareavailableonlineatdhcd.dc.gov.
PropertiesEligibleforPurchaseRecipientsofHPAPEassistancemustpurchasepropertiesthatarecurrentlyvacantandforeclosedwitha
freeandcleartitleandarereadyforresale. Ifthepropertyisnotinlivablecondition,thenewpurchaser
canfinancetherehabilitationcoststhatareneededtobringthehometohealthsafetyandbuildingcode,
througharehabilitationloanthatmustbecompletedwithinsix(6)monthsfromthedayofclosing. This
canbeevidencedthroughaFHA203(k)streamlineloanorviatheapplicantsbankstatementandwork
writeup. Allproperties,includingpropertiesthatwererehabilitated,mustpassaHousingQuality
Inspection.
Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200
(Continuedonreversesid
TargetArea QualifyingCensusTractNumbersDeanwood 78.3;78.6;78.7;78.8;78.9;99.4;99.5;99.6HistoricAnacostia 75.3;75.4;76.1
IvyCity/Trinidad 79.1;79.3;85;88.2;88.3;88.4;89.3;89.4
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D E P A R T M E N T O F H O U S I N G A N D C O M M U N I T Y D E V E L O P M E N T
RepaymentTheloanrepaymentforHPAPEwillnotbedeferredforthefive(5)years,asisthecasewithstandardHPAP
loans.ThetermsfortheHPAPEenhancementprogramwillbeonagraduatedscheduleforthefirstfive
yearsbasedona40yearamortizationofthenoteloanamount,asfollows:
Thefirstyearofrepaymentwillbe20%oftheamortizednote;
20%thesecondyear;
40%thethirdyear;
60%thefourthyear;
80%thefifthyearand;
beginninginyear6,100%ofthebalanceowedonthemortgagewillbeamortizedovera35yearperiod.
Note: DHCDreceivedfundingfortheNSP2fromtheU.S.DepartmentofHousingandUrbanDevelopment
(HUD)undertheAmericanRecoveryandReinvestmentAct(ARRA). Aspartoftheapplication,DHCDagreed
toincreasetheincreaseassistanceforhomepurchaseinthespecifiedareas.
HowtoApplyToapplyforHPAPEorformoreinformation,pleasecontactoneofthefollowingorganizations:
HousingCounselingServices241017thStreet,NW
Washington,DC20009
(202)6677006|www.housingetc.orgLatinoEconomicDevelopmentCorp.(LEDC)231618thStreet,NW
Washington,DC20009
(202)5885102 |www.ledcdc.orgLydiasHouse3939SouthCapitolStreet,SW
Washington,DC20032
(202)3731050 |www.lydiashousendc.org
Department of Housing and Community Development, 1800 Martin Luther King Jr. Ave. SE, Washington, DC 20020 (202) 442-7200
UniversityLegalServices220IStreet,NE,Suite130
Washington,DC20002
(202)5474747|www.ulsdc.org
UniversityLegalServicesatDHCDHousingResourceCenter1800MartinLutherKing,Jr.Ave.,SE
Washington,DC20020
(202)
889
2196
|
www.uls
dc.org
UniversityLegalServices,FarNELloydE.SmithCenter
3939BenningRoad,NE
Washington,DC20019
(202)3961201|www.ulsdc.org
11.05.10
Note: DHCDadherestoallfederalandlocallawsandregulationswhichofferconsumerprotectionsfromprohibitedpredatory
lendingpractices. DHCDdoesnotrequirepotentialapplicantstoacceptprivatefinancingthatispricedabovethemarketrateor
thatisnotfromareputablelender. Potentialapplicantsshouldneveracceptanofferofprivatefinancingwithoutdiscussingthe
offerwithoneofhousingcounselingagencieslistedbelow.
Non
discrimination
clause:
In
accordance
with
the
D.C.
Human
Rights
Act
of
1977,
as
amended,
D.C.
Official
Code,
Section
2
1401.01etseq.,(Act)theDistrictofColumbiadoesnotdiscriminateonthebasisofactualorperceived:race,color,religion,
nationalorigin,sex,age,maritalstatus,personalappearance,sexualorientation,familialstatus,familyresponsibilities,
matriculation,politicalaffiliation,disability,sourceofincome,orplaceofresidenceorbusiness.