D.C. Code § 42-2623: Eligibility.

(a)

An applicant shall be eligible for the Home Purchase Assistance Step Up Program if the applicant:

(1)

Is a District of Columbia resident;

(2)

Is the head of the household and will occupy the property to be purchased with assistance from the program as his or her primary residence;

(3)

Has a satisfactory credit rating as shall be defined by rules deemed necessary to carry out the purposes of this subchapter;

(4)

Has adequate income to qualify for a mortgage from a private lender;

(5)

Has sold or otherwise disposed of all interests in any other real property before the closing of any loan under this subchapter;

(6)

Has insufficient assets to pay the down payment or reasonable closing costs, or both, without assistance from this program;

(7)

Would have liquid assets not exceeding the limit established by the Mayor by rulemaking, after purchasing property under this subchapter or through this program; and

(8)

Meets qualifying income levels as provided by regulation.

(b)

Property shall be eligible for the Home Purchase Assistance Step Up Program if the property:

(1)

Is an existing single family residence in the District of Columbia;

(2)

Meets the requirements of the Construction Codes promulgated pursuant to the Construction Codes Approval and Amendments Act of 1980, effective February 2, 1987 (D.C. Law 6-216; 12 DCMR) and the Housing Regulations of the District of Columbia, effective August 11, 1955 (C.O. 55-1503; 14 DCMR Chapters 1-14); and

(3)

Has a purchase price that neither exceeds the maximum price requirement established by rulemaking nor the appraised value of the property.