DCAR receives update on HPAP funding

The District of Columbia Association of REALTORS®’ (DCAR) leadership recently had a conversation with the deputy mayor for Planning and Economic Development and the director of the Department of Housing and Community Development (DHCD) to discuss its concerns regarding the recent funding issues for the Home Purchase Assistance Program (HPAP).

DCAR received the following information regarding the HPAP program:

• All lender packages that were submitted by 11:59 p.m. on June 22, 2023 will be considered part of the pipeline and funding will be made available for them to close.
• There are approximately 400 Notice of Eligibility holders who will not receive funding.
• In FY ‘23 to date, DHCD has spent nearly $70 million for HPAP and has funded about 470 new homeowners – more than ever before.

On August 1, 2023, DCAR sent a letter to DHCD outlining its recommendations concerning HPAP and expressed its desire to be a partner with the District government in promoting and improving the program.