(Washington, DC) - The Department of Housing and Community Development (DHCD) announced new underwriting requirements and guidelines for the First Right Purchase Assistance Program.
The list of requirements and guidelines, which were published today in the DC Register, are final and are intended to assist low-income residents who seek to optimize their first right to purchase their residence.
DHCD developed the guidelines after receiving requests from stakeholders, including anti-displacement counselors, housing counselors, and intermediary lenders, for greater structure to the program. The agency held four stakeholder meetings and posted notice of a 30-day public comment period in the DC Register and on its website in October 2008.
A copy of the final underwriting requirements and guidelines can be downloaded below.