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Buying Real Estate in Washington, DC

News, Tips & Advice for Buyers Seeking Property in Washington, DC

Feb 03

Mortgage Guidelines Starting To Loosen?

Mortgage lending appears to be loosening. At least for now. In its quarterly survey of member banks, the Federal Reserve asks senior loan officers around the country whether their "prime" residential mortgage guidelines had tightened within the last 3 months. A prime borrower is one with a well-documented credit history, high credit scores, and a low debt-to-income ratio. Of the 54 responding banks, just 2 said its guidelines had tightened during the period October-December 2010. That's less … [Read more...]

Jan 26

About that vacant DC property…

There’s a possibility that you got a letter in the last week from the DC Office of Taxation and Revenue about your property taxes, and you opened it, like me, to discover “Oh shit! They’re gonna raise my property tax because they think no one really lives here!” That’s right, DC OTR sent out letters to all vacant property owners about the upcoming tax assessment period, and it may have caught some people unaware.  DC maintains a significantly higher property tax rate for vacant properties, … [Read more...]

Jan 16

In trouble on your mortgage? DC might be able to help

The DC Housing Finance Agency is piloting a program in Wards 5, 7 and 8 starting this week that will help the underemployed keep their houses while they find new employment.  Through a $20M grant from the government, if you lost your job and have fallen behind on your mortgage payments, but are not yet in foreclosure or bankruptcy, you can receive up to 15 months of assistance from the HFA to help keep your home. The program will spread to the rest of the District in April, but the pilot is … [Read more...]