As businesses in the Washington, D.C. region have had to close and/or reduce staff, the District of Columbia Housing Finance Agency recognized an opportunity to provide financial assistance to those impacted by the effects of COVID-19. Through DC MAP (Mortgage Assistance Program) COVID-19, qualified borrowers can receive up to $5,000 monthly in financial assistance paid toward their mortgage for up to 6 months.
The DC MAP (Mortgage Assistance Program) COVID-19 will provide financial assistance commencing with April 1, 2020 payments of monthly mortgage principal, interest, escrowed property taxes, escrowed homeowners insurance, escrowed monthly mortgage insurance, past late fees due commencing with April 1, 2020 payment, and current late fees for those District homeowners who have been financially impacted by COVID-19 causing a loss of income. The financial assistance will be made to qualified homeowners in the form of a zero-interest, recourse loan, secured by a deed of trust with a maximum monthly assistance amount of $5,000 per month (first trust mortgage payment) for each homeowner for up to 6 months, subject to monthly certification attesting to the need for on-going assistance; subject to available funding.
For More Information Please Visit: https://dchfa.org/homeownership/available-programs/dcmap_covid/
