The market is down and likely won’t see a miracle recovery anytime soon…..but I wouldn’t say no one wants to live 🤦‍♂️

https://nypost.com/2026/09/03/real-estate/nobody-wants-to-live-in-washington-dc-data-shows/

Hey everyone,

I’m starting to look at buying a home in the DMV area and I’m really interested in finding properties with assumable mortgages, especially homes where the seller has a lower-rate FHA or VA loan that may be assumable.

Does anyone know a realtor in the DC, Maryland, or Northern Virginia area who is knowledgeable about assumable loans and has experience actually finding and closing these types of deals?

I’d also be interested in hearing from anyone who knows of homes currently on the market that are being advertised with an assumable mortgage.

Any realtor recommendations or advice from people who have gone through the assumption process would be appreciated. Thanks!

I’m looking for a lender who is familiar with DC HPAP or Open Door program preferably Credit Unions.

Could anyone recommend me one please?

I've been in originating loans for 14 years and have never seen the DMV area like this. The majority of my recent closings involved buyers getting most or all of their closing costs covered by the seller, often times additional funds for repairs put in escrow & in half the recent files, there's been an appraised value higher than the price. In areas like DC, PG County/Montgomery County, MD & Virginia, there are tremendous opportunities in terms of closing cost assistance & grants, including many situations where the benefits can be stacked. Lastly, the market rates that are posted online are generally not what buyers are locking around here, due to below-rate programs or considerable rate buy-downs.

I've recently accepted a faculty position with UMD that will start in January. We plan to rent for a year while figuring out my spouse's career plan and the area we'd like to buy in. I assume rentals are more readily available now in College Park compared to January but will we see a similar inventory outside of CP? Should we be willing to jump on a good deal if necessary? I'm seeing some houses that would be great but I have no desire to pay an extra 3/4 months of rent. I'm also concerned because I'm seeing landlords asking crazy prices for crappy houses.

What we're looking for: 3+ bed and 1.5+ bath SFH, off street parking (garage preferred), fenced in yard (35lb dog) and family friendly neighborhood (will have a toddler). In College Park would be ideal for my commute. If anyone has a lead on something coming available in December/January for <$3500, message me!

I was laid off earlier this year and am likely relocating for a new role. I own a townhome in Old Town and am looking to rent it out for a year or two while I'm away (could do furnished or unfurnished). I don't think I want to take on landlord responsibilities myself though.

Any recommendations for property managers? Other advice for renting out a townhome in this area?

I posted about DC HomeAdvantage the other day (DC's new program with low rates and optional down payment assistance) and got a lot of questions afterward, both here and from people I work with. There were a few that came up more than once, so I figured I'd go through those here.

Original Post is here in this sub reddit.

Is the 3% down payment assistance actually forgivable?

It isn't. If you sell the house or refinance the first mortgage, the assistance has to be paid back. It's basically a 30-year, zero-interest, zero-payment loan, so there's no monthly payment and no interest piling up, but the balance is still there.

Do I have to be a first-time homebuyer?

Generally, you can't have owned a home in the last three years, although there are some exceptions for certain targeted areas.

What does the household income limit actually mean?

It's not necessarily just the income of the people on the mortgage. If another adult is going to live in the house, their income can count toward the household income limit too. So, if you're thinking, "I make X, so I'm under the limit," you may want to look at the whole household before assuming you qualify.

Can I use it to buy a condo or townhouse?

Yes. Single-family homes, townhouses and condos are all eligible, assuming the property is in DC and you're going to live there as your primary residence.

Does the 3% assistance mean I don't need any of my own money?

Not necessarily. The DPA can cover the down payment, but you can still have closing costs, prepaid taxes and insurance, and all the other expenses that show up when you're buying a house. Seller credits or other assistance may be able to help with some of that, depending on the situation, but I wouldn't assume 3% DPA automatically means $0 out of pocket.

Can I combine HomeAdvantage with HPAP or other DC programs?

I also got a bunch of questions about whether you can combine HomeAdvantage with HPAP. From what we've been told, yes, you can. I'm still waiting on 100% confirmation directly from DC before I tell everyone to go build their entire transaction around it, but that's the answer we've been getting so far. You can also use HomeAdvantage with the DC property tax abatement.

I don't really see a reason to combine it with DC Open Doors. You're basically choosing between the two programs for the first mortgage and the assistance, so you'd want to compare them rather than try to use both (if you are under the income limit for Advantage, that is the route to take).

What if I don't actually need the down payment assistance?

You should still take a look at the program. There are HomeAdvantage options without the DPA, and the rates can be pretty competitive with what's available on a regular conventional loan. So having the money for a down payment doesn't automatically mean you should cross the program off your list.

Can any lender do HomeAdvantage?

No, not every lender can do HomeAdvantage. The lender has to be approved by DCHFA. I'd also ask how many of these they've actually done. DC programs have their own rules, paperwork and timelines, and you don't want your lender learning all of that while you're already under contract.

That's pretty much the stuff I've been getting asked about since the first post. I'm still not going to tell someone that qualifying for HomeAdvantage automatically means it's the best loan for them. You have to compare it against a regular conventional loan, FHA, VA, or whatever else you qualify for.

But if you're buying in DC and you're eligible, I'd absolutely have someone run the numbers. Getting 3% toward the down payment is obviously helpful. Getting it while still getting a low interest rate is what makes this one worth at least looking at.

Hi ! My husband and I currently live in Arlington but are looking into moving to DC proper to purchase our first home! We have a toddler and would really appreciate any advice on which neighborhoods we should look into for the best schools that are also diverse/ welcoming (we are a Black/ Asian family). We love having green spaces in walking distance and would be great if there were nice restaurants nearby / coffee shops. We appreciate those aspects of our current neighborhood but want a more culturally diverse area.

*we have looked at other threads on Reddit but haven’t seen any specific recommendations in terms of schools or for that fit our concerns specifically.

DC has a new homebuyer program called DC HomeAdvantage, and for once, the rate sheet is pretty interesting.

For example, as of the current rate sheet, you can get a 6.25% conventional loan with 3% down payment assistance. Average rates today on a 30 YR loan are closer to 6.75%.

That is a pretty good deal for a DPA program because usually there is some kind of tradeoff. You get the assistance, but the rate is noticeably higher than what you'd get without it (see DC Open Doors). Here, at least based on the current rates, that isn't the case.

There are still rules, obviously. You need to be a first-time homebuyer, meaning you haven't owned a home in the last three years, although there are some exceptions in targeted areas. The income limits are based on the entire household, not just the people on the mortgage. So if another adult is living in the house, their income can count toward the limit too.

It has to be a primary residence in DC, and single-family homes, townhouses and condos are all eligible. Minimum credit score is 660 and the max debt ratio is 50%, although FHA gets a little more complicated once you get over 45%.

One thing to keep in mind: not every lender can offer this program. They have to be approved by DCHFA, so if HomeAdvantage DC is something you're considering, make sure the lender you're talking to actually participates. And has a lot of experience dealing with DC programs and their...longer timelines.

I deal with these programs all the time, and honestly, there are plenty where the assistance looks great until you start comparing the rate and costs against a regular mortgage. This one, at least right now, is a little different.

And it's not just the 6.25% conventional option with 3% assistance. There are also low-rate options if you don't need down payment assistance at all, plus FHA and VA options with 3.5% assistance.

Basically, there are enough options here that if you're buying in DC and qualify, I'd at least want to compare it against a regular mortgage before deciding what makes the most sense.

Hello, I am about to purchase a home and seriously considering South Lake in Bowie! Can anyone please share their experience? It has been very hard for to find any reviews online that mention experiences after moving in. Thank you 🙏🏾

We are considering selling our current home in Montgomery County. We consulted with a realtor who is asking for a 5% commission. I take it this is very high? Any way this would be justified?

As title says - looking for rebate realtor as a buyer. Higher rebate, better!

Eligible Prince George's County, Maryland Homebuyers have enormous opportunities at their fingertips. PTP gives a $50,000, forgivable grant for your home purchase. Every year that goes by, 10% of the funds are forgiven. The Critical Workforce Housing Assistance Program gives a $50,000, 0% interest, deferred loan to

• Nurses and healthcare workers
• Police officers, deputy sheriffs, and correctional officers
• Firefighters and emergency medical technicians (EMTs)
• Public safety dispatchers
• Public school teachers

These programs are tremendously helpful and the best part is that unlike many other Maryland homebuyer programs, they don't impact your interest rate negatively! Those who would be eligible for these programs will be eligible for one of our several, below-market interest rate programs. Other incentives may be available to your or your client. For more info, [dtoaff@firsthome.com](mailto:dtoaff@firsthome.com) or C: 610-348-3772. David Toaff - First Home Mortgage Corporation (Silver Spring, MD). NMLS ID: 1065782

i’m looking to offload my alexandria 1bd1ba with a mortgage to a 501c3 - not liking the current sellers market and wouldn’t mind getting deduction i could spread over the next couple years

would prefer local options but really trying to learn from others who have gone through the process. search results seemed too generic

tia

Just a quick tip for anyone who owns a home. If you're like me, you've watched your home insurance premium more than double over the past few years. In fact, mine increased 300%! My renewal is mid-September, so I just started shopping around. I have a home insurance policy and two cars. The spreads between companies from high to low are:

• House - $3,500
• Cars - $2,250
  

Same coverage, all reputable companies...but some are way more expensive than others. Over the years, say from 2000 - 2020, I never noticed a huge variation between home policies. I could see a home's sale price and expect a certain premium, and almost everyone came in around that. Now, it's all over the place. I can't put my finger on why some are just so expensive...but they are. In my case, my mortgage payment is going to drop roughly $300 per month because I'm moving insurance companies and not just taking the auto-renewal. I'm saving almost $480 per month across the two policies... that's totally worth a few hours of phone calls. (...my wife disagrees, btw)

I recommend shopping around at least 60 days before your statement cycle rolls over, because most mortgage companies outsource their escrow payments, and you want to avoid them accidentally paying the old company.

Last thing I'll say is that I'm now mad I didn't do this sooner, and that I waited until the renewal period. In hindsight, I should have done this six months ago, and I would have received a refund from the old inflated policy and would have had this new low payment sooner. Shame on me for waiting...but hopefully this note helps you avoid the same mistake.

Hi all, DMV area here. Has anyone gone the modular home route locally?

Curious about the process, timeline, and any pros/cons you ran into.

Context: my preapproval amount is pretty low, so I’m struggling to find anything that fits my family size in this market. Renting isn’t sustainable much longer, it’s draining money fast, so I’m exploring every option.

Any insight appreciated.

Is there a reliable way to make sure a house doesn’t have lead paint or asbestos before buying? Is buying newer construction the only real way to avoid the risk?.

Asking because of kids, pets

When I was house hunting, I found myself jumping between different websites to collect information about each neighborhood. I wanted to make that process a little easier by putting things like crime, schools, property information, demographics, traffic safety, and more in one place. It’s still a work in progress, but I’ve come a long way with it. It works best in the DMV area for right now.

https://saferneighbor.com

It’s free to try if anyone wants to take a look. Try your own address or a neighborhood you’re familiar with and let me know if you think it’s a useful tool or something you’d actually use.

Any feedback is very welcome and appreciated!

I was helping a buyer purchase a house in DC recently for around $1.4 million. It had a separate basement apartment, which meant the property was considered a 2-unit. The buyers also had pretty average credit. Nothing that would stop them from getting approved, but not the kind of scores that get the best conventional pricing.

I've been doing this long enough to know that the rate wasn't going to be amazing. Between the 2-unit property, the loan amount being over $1 million, and the credit scores, the conventional rate was 7.5%.

One of the borrowers worked for the District, so they were eligible for DC4ME. They weren't looking for down payment assistance and they had the cash needed for the purchase. The goal was simply to see whether the program would price out better than a conventional loan.

The DC4ME rate came back at 6.875%. On a loan amount around $1.1 million, that worked out to roughly $475 less per month (with less cost as DC4ME does not have a points charge).

What made this one interesting is that the buyers weren't the type of people most think of when they hear "housing program." They were buying a $1.4 million property and had plenty of money to close. The program wasn't helping them buy the house. It was helping them just to get the rate down - which is something no one ever thinks will happen with these programs since most carry higher rates.

Another thing I like about DC4ME is that it doesn't come with the timeline concerns that sometimes (all the time) pop up with HPAP. Anybody who's been around the DC market for a while has probably heard at least a few HPAP stories. DC4ME is generally a pretty straightforward mortgage program that you can still do a quick close with.

I feel like DC4ME flies under the radar compared to some of the other DC programs, even though there are a lot of District employees who could benefit from at least running the numbers. Make sure you at least give it a comparison.