1422 Shepherd Street NW #1

Buyer financing fell thru . Back on the market!REDUCED!!! Please email agent with all questions. ALL INCOME ELIGIBILITY REQUIREMENTS ARE IN THE DOCUMENT SECTION OF THIS LISTING. Any additional questions Must be submitted via email and will not be serviced over phone. Newly renovated! $500 credit to use Community Title. This home is a part of the District’s Vacant to Vibrant program. PADD units, household must earn less than 80% area median income (AMI) & meet household size requirements. All prospective buyers must be approved with DHCD.nnnHome Purchase Assistance Program (HPAP)nThe Home Purchase Assistance (HPAP) program provides interest-free loans and closing cost assistance to qualified applicants to purchase single family houses, condominiums, or cooperative units in the District. The loan amount is based on a combination of factors, including income, household size, and the amount of assets that each applicant must commit toward a property’s purchase. The loan is subordinate to a private first trust mortgage.nnEligible applicants can receive a maximum of $202,000 in gap financing assistance and an additional $4,000 in closing cost assistance. The HPAP loan for borrowers with incomes below 80 percent of the area median income (AMI) is deferred until the property is sold, refinanced to take out equity, or is no longer their primary residence. Moderate-income borrowers who earn between 80 percent and 110 percent AMI will have payments deferred for five years with a 40 year principal-only repayment period.