Mechanicsville
Real Estate
4 financial resources for D.C. homebuyers
Mayor Muriel Bowser launched the District's Black Homeownership Strike Force in 2022 with the goal of helping thousands of Black D.C. residents become homeowners by 2030.Why it matters: The U.S. Black homeownership rate (45.9%) is nearly 30 percentage points lower than the white homeownership rate (73.8%), per the latest from the Federal Reserve.Zoom in: Down payment assistance programs are one tool helping to close the racial homeownership gap.For example, IT consultant Kevin Malloy bought his 2,500-square-foot Waldorf (Md.) home back in 2020 with the help of a VA loan. He put no money down on the $377,500 house."I would...
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