DC MAP provides financial help for District homeowners
DC MAP (Mortgage Assistance Program) COVID-19
The District of Columbia Housing Finance Agency (DCHFA) recognized an opportunity to provide financial assistance to those impacted by the effects of COVID-19. Through the DC MAP (Mortgage Assistance Program) COVID-19, qualified borrowers can receive a loan up to $5,000 monthly toward their mortgage for up to six months. Borrowers must be applying for financial assistance for their primary residence, which must be located in the District of Columbia. DC MAP COVID-19 relief commences with April 1, 2020 payments associated with monthly mortgages. Interested applicants are asked to take the survey on DCHFA’s website to confirm if they’re eligible to apply.
Click here to review the full list of borrower qualifications and to apply to the program.
Mortgage Resources and Information
On April 7, 2020, DC Council passed emergency legislation creating a mandatory 90-day mortgage deferment program for residential and commercial mortgage holders who request one. No late fees or penalties would accrue, and repayment of the deferred amount may be done via payment plan, not through a lump payment. This program requires landlords to pass along proportionate savings to their tenants if they receive a deferment. Click below FAQ for more information or contact the DC Department of Insurance, Securities and Banking.