As housing costs rise, there’s a new program in D.C. aimed at making sure residents can afford to stay in their homes.
The Homeowner Assistance Fund gives eligible low-income residents access to $50 million to help reduce the burden of housing-related payments, including mortgage payments, homeowners association fees, insurance and utility costs.
Some requirements residents must meet include financial hardship due to COVID-19, and the home must be owner-occupied. Residents must also make less than 100% of the median family income, or $142,300 for a family of four. Interested applicants must also have fallen behind on one or more of the eligible expenses to be considered.
In a statement, Mayor Muriel Bowser said the program adds another resource to the District’s homeownership tool kit.
Click here to read the rest of the article written by Melissa Howell over at WTOP
