District of Columbia Statutes
§ 42-2624 — Assistance.
District of Columbia·Title 42 Real Property.·Ch. 26 Home Purchase Assistance Fund.·Subch. II Step Up Program.
(a)Assistance available pursuant to this subchapter is limited to a one-time loan of up to $15,000 with a maximum 20-year amortized term.
(b)The interest rate shall be 3%, unless otherwise provided by the Mayor by rulemaking.
(c)The Mayor shall establish underwriting guidelines, including loan amounts and repayment terms, by rulemaking.
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Legislative History
Apr. 27, 1999, D.C. Law 12-266, § 5, 46 DCR 948; Apr. 12, 2000, D.C. Law 13-91, § 155, 47 DCR 520
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