Greater Washington Urban League Helps First Time Homebuyers

WASHINGTON - Oct. 12, 2016 - PRLog -- The Greater Washington Urban League (GWUL) ended the 2016 Fiscal Year on September 30 with strong results for its Housing and Community Development Division. "We are ecstatic that we were able to provide assistance to 226 individuals and families who are first time homebuyers in the District of Columbia, said GWUL's new Housing Director, Mr. Derek McDaniels. GWUL welcomed Mr. McDaniels to its organization in July 2016.

For over 23 years GWUL has been in the community providing financial assistance to families interested in being first time homebuyers in D.C. The organization has assisted more than 7,000 homebuyers participate in the Home Purchase Assistance Program (HPAP), a program funded by the D.C. Department of Housing and Community Development's (DHCD) that provides down payment and closing costs assistance to eligible buyers. "It's a great program! The whole program is well put together and I learned a lot", said Mr. Daniel Tchoumbe, a 27 year-old who just recently purchased his first home in Washington, D.C. Mr.Tchoumbe took a class offered by Housing Counseling Services, Inc. that provided information on the home-buying process and the different types of loans available. He then filled out an application and was referred to the Greater Washington Urban League to begin the process of qualifying for HPAP assistance. Mr.Tchoumbe went on to say, "It's worth the time. If I did not have HPAP I would not [have] been able to purchase the place where I'm living now. It's 100% worth it!"

The Greater Washington Urban League has a long standing commitment to empowering residents in the Washington, D.C. region. The organization's ability to touch the community at a grassroots level is unmatched in this region. "We provide a pathway to the American Dream through homeownership and then enhance the success of our customers through a continuum of wrap around services." Those wrap around services include budgeting and financial planning and homeownership counseling. GWUL is looking forward to helping even more families purchase affordable housing in the District of Columbia in FY 2017. The FY 2016 results represent a six percent (6%) increase over GWUL's FY 2015 results.

Many potential buyers who wish to purchase a home in Washington, D.C. believe that the homes are priced out of their economic reach. HPAP and special programs for District of Columbia employees overcome this barrier. For example, a family of four with an income of $74,000, who meets the requirements, may receive a five (5) year deferred loan of up to $35,000 to help with a down payment. A family with an income as low as $38,250 could qualify for the maximum amount of assistance of $54,000.

For more information about GWUL's home purchase assistance programs, contact the Housing and Community Development Division at 202-265-8200 x228 or visit http://www.gwul.org.

About Greater Washington Urban League
Empowering Communities Changing Lives.  The Greater Washington Urban League last year served over 65,000 residents in Washington, DC, Montgomery County and Prince George's County Maryland. For more than 75 years GWUL through its local impact, has empowered communities and improved the quality of life via its program services in areas such as academic scholarships, employment & training, emergency assistance and making homeownership possible for first time buyers.