Your DC mortgage, done right.

Mortgage rates change daily and depend on your credit score, down payment, loan type, and property type. VA loans typically price 0.25-0.5% below conventional. Rates move with the market daily — see our rates page for current sample pricing. Your actual rate depends on your profile — a 740+ credit score with 20% down gets the best rates. Get personalized quotes from multiple lenders.

A rough guideline: multiply your gross annual income by 3.5-4x. At $100,000/year, expect $350,000-$400,000. At $150,000, roughly $525,000-$600,000. Subtract for existing debts and HOA dues. Lenders may approve more, but keeping your total housing payment under 30% of gross income leaves room for savings and lifestyle. Use a mortgage calculator for precise numbers.

Conventional loans (3-20% down, best rates at 740+ score), FHA loans (3.5% down, 580+ score, building must be approved), VA loans (0% down for eligible veterans/military), jumbo loans (for amounts over DC's $1,249,125 conforming ceiling), and renovation loans (FHA 203(k) or HomeStyle for fixer-uppers). Each has different qualification requirements and trade-offs.

The 2026 conforming ceiling in DC is $1,249,125. DC is a designated high-cost area, so its limit is set at 150% of the $832,750 national baseline — be careful with national sites that quote the baseline as if it were DC's number. Loans up to the baseline are standard conforming; loans between the baseline and $1,249,125 are high-balance conforming, still backed by Fannie Mae or Freddie Mac and priced much closer to standard conforming than to jumbo. Jumbo terms only begin above $1,249,125.

Expect $10,000-$25,000 total. The largest component is DC's recordation tax — 1.1% below $400,000 and 1.45% at $400,000 and above — plus your share of the transfer tax. Qualifying first-time buyers pay a reduced recordation rate of 0.725%, and buyers under the DC Tax Abatement program's $576,000 price cap can be exempted entirely. Additional costs include title insurance, lender fees, appraisal, and prepaid items like property tax escrow and homeowner's insurance.

DC's residential rate is 0.85% of assessed value. Owner-occupants should apply for the homestead deduction, which reduces assessed value by $91,950 (saving about $782/year). Assessments are capped at 10% annual increases for homesteaded properties. Most mortgage lenders collect property taxes monthly through an escrow account as part of your mortgage payment.

Condos have lower purchase prices and no personal maintenance responsibility but come with HOA dues ($200-$700/month) that reduce borrowing power. Rowhouses offer more space and no HOA but require you to budget for maintenance (1-2% of value annually). Condos may have financing restrictions (warrantability, FHA approval). Your budget, lifestyle, and maintenance preferences should guide the decision.

DC's homestead deduction reduces your property's assessed value by $91,950 for property tax purposes, saving about $782/year. It's available to owner-occupants of their primary residence. You must apply through the DC Office of Tax and Revenue after purchasing — it's not automatic. Apply within one year of closing to avoid missing a tax cycle.

Yes, but the building matters. Warrantable condos (meeting Fannie Mae/Freddie Mac guidelines) qualify for standard conventional loans with the best rates and lowest down payments. Non-warrantable condos require portfolio lenders with higher rates and 20-25% down. FHA loans require FHA building approval. VA loans require VA building approval. Always check the building's status before making an offer.

HPAP provides up to $202,000 in interest-free down payment assistance plus $4,000 toward closing costs, scaled by household income and size. DC Open Doors covers your required minimum down payment and is open to repeat buyers, subject to a 170% AMI income cap ($275,400) and a 640 minimum credit score. Qualifying first-time buyers pay a reduced recordation tax rate of 0.725% instead of the standard 1.1% below $400,000 or 1.45% at and above it. Purchases under $576,000 may also qualify for the DC Tax Abatement program, which waives recordation tax and abates property tax for five years. DC government employees should ask about EAHP. These programs can be combined — many buyers close with minimal cash out of pocket.

Plan for 30-45 days for a rowhouse or 45-60 days for a condo from contract to closing. Condos take longer due to HOA document review, lender project approval, and warrantability verification. FHA and VA purchases may take additional time for building approval. Getting pre-approved and responding quickly to lender document requests helps keep the timeline on track.

DC's housing market has historically appreciated steadily, driven by government employment stability, limited land for new construction, and consistent demand. The buy-vs-rent calculation depends on how long you plan to stay (generally 3-5+ years to break even on transaction costs), your financial readiness, and your personal goals. DC's assistance programs make buying more accessible than many buyers realize.

District Mortgage is a licensed mortgage broker, not a bank or direct lender. We do not fund loans with our own money. We take your application and shop it across our wholesale lender network, so the lenders compete for your loan and you take the winning offer. NMLS #2819502 — verify us at nmlsconsumeraccess.org.

No. We are licensed in the District of Columbia only, so the property has to be in DC. We cannot accept an application or a pre-qualification request for a property in Maryland, Virginia, or any other state. If your property is elsewhere, nmlsconsumeraccess.org will show you licensed originators in that state.

Our rates page is the canonical source for our pricing and carries an effective date, the APR alongside every rate, and the borrower assumptions each example is priced on. Rates shown anywhere on this site are illustrative examples, not offers of credit or commitments to lend, and pricing moves daily. Anyone quoting a rate from us should cite the effective date it was published with.