Be a Part of Washington DC’s Urban Renaissance

Washington, DC has not only weathered the volatile and stormy economy of the past few years, but is now emerging as a top contender for having the strongest and most resilient economy in the country. Washington, DC is now ranked as the #1 national and #1 international investment market among foreign investors (AFIRE)

Today, it is being said that Washington DC has gone through an "Urban Renaissance", a rebirthing of sorts, transforming Washington, DC into a "world class city" within the global business world. In turn, many are discovering the special appeal of the District's distinctive neighborhoods each with art, local culture and local events reflecting the past and the future.

Residential investors, along with homeowners and potential homeowners, are seeing the opportunities of investing in the city through residential home ownership. There are currently thousands of new housing units under construction within the DC Metro area.

But certainly what stands out when looking at the Urban Renaissance of the DC area is the rebirthing of the old historical districts throughout the metro area. With each neighborhood reflecting its own unique history and local culture - many are currently being restored to the original grandiose statute.

Advantages and government incentives are not only for investors. Average homeowners are also taking advantage of the many government programs created to further stimulate the economy. Here are a couple of current examples and you can always contact Rachel Valentino if you have further questions or want to learn more:

Single-Family Residential Rehabilitation Program Provides low-cost financing for the rehabilitation of 1 - 4 unit residential housing. Provides low-interest amortizing loans for up to 20 years, depending on the financial circumstances of the borrower and the amount of rehab required to correct code deficiencies.

Special monies set-aside for handicapped access and senior living improvements.Who to Contact: Department of Housing and Community Development (DHCD) dhcd.dc.gov

Residential property must be owner-occupied or investor-owned and located in Community Development Area or Enterprise Community.

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Housing Purchase Assistance Program (HPAP) Provides interest-free or low-interest loans for down payments, closing costs, or other expenses associated with buying a house, condominium or cooperative in the District. Amount of loan is adjusted to reduce the total monthly payment to 28% of household's monthly gross income. For very low income family, repayment of loan is deferred until house is sold. This program is temporarily out of money, but additional funding should be available soon.

Who to Contact: Department of Housing and Community Development (DHCD) dhcd.dc.gov

Eligible families must meet income restrictions. Maximum loan amount and income guidelines are subject to change.

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Single-Family Mortgage Revenue Bonds HFA finances below-market rate loans to low- and moderate-income residents using proceeds from the sale of Single Family Mortgage Revenue Bonds.

Who to Contact: DC Housing Finance Agency (HFA) dchfa.org

Application approval through HFA

Become apart of this exciting time of rebirth by exploring all of your available home ownership options and incentives by working with an experienced REALTOR^® who you can trust and has a proven track record. Rachel Valentino is a top specialist in the D.C. area. Contact her today to talk about your current options and available buying incentives. Or check out her Atlantic Coast Connection website to look for your next dream home.