Down Payment Assistance Program Guide
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Why Homes by CFE?

Supportive Process
Homes by CFE works with its partners in lending and homeownership counseling to ensure borrowers know what to expect at all stages of the purchasing process. In addition, our staff works with borrowers to discuss how Homes by CFE can help them purchase a home where their families can thrive.

Knowledgeable Staff
Our team includes dedicated mortgage professionals with expertise in supporting disinvested communities. In addition, each of our NMLS-licensed loan officers is committed to serving our borrowers with patience, respect, and dignity.

Legacy in Affordable Housing
Homes by CFE and its parent organization, City First Enterprises, have a deep history and mission of expanding economic opportunity to underserved populations. Since 2010, we have helped buyers afford homes in DC neighborhoods they love. The new DPA Program is the next step in achieving equitable, thriving communities.
The Process
Complete program application
The DPA program application collects preliminary information about you and your co-borrower, if applicable. Within 48 hours of receiving your program application, a member of the Homes by CFE team will be in touch about your eligibility and next steps in applying for down payment and closing cost assistance.
Speak with a mortgage specialist
We’ll schedule time to learn more about your needs, answer questions, and provide preliminary terms. You’ll complete a release so that we can utilize the same documents that you’re sharing with your first trust lender.
Complete the loan application
A full loan application with supporting documentation is completed with the support of a mortgage specialist.
Underwriting begins
Our mortgage professionals work closely with your first trust lender to ensure all necessary documentation is in order. A credit authorization is completed by the borrower and all income and credit information is reviewed. If qualified, your assistance amount and monthly interest-only payment are calculated to ensure they are affordable to you. A final notice of program approval and the closing cost disclosure will be provided for review and signature within three business days of closing.
Homeowner orientation
We go over the program terms and closing documents to ensure you fully understand the details and how repayment works. This mandatory program orientation ensures transparency and gives borrowers the opportunity to ask any final questions.
Closing
Homes by CFE coordinates with your first trust lender and the title company to prepare for closing. Our team can move from approval to loan issuance within three days of receipt of all documentation, largely depending on when we receive the needed documentation. Closing will be scheduled by your first trust lender and the title company.
Are you mortgage ready?
Determine your eligibility and apply for assistance