First rate unit finishes, convenient location and loads of community amenities mean high value, but the best part of this extraordinary Homeownership Made Easy Program is that it makes homeownership affordable and available for many buyers who might have difficulty with conventional financing…especially down payment requirements. This innovative non-government program includes 100% financing (NO down payment) for qualified buyers. Bring your buyer broker/agent or come alone and how this can mean attractive high quality housing you can afford.
1 Bedroom 1 Bath
The prices above represent “Stage 1” of development and the prices are subject to change without notice.
100% FINANCING – NO DOWN PAYMENT
80% share loan from DC Federal Credit Union plus 20% deferred payment Co-op loan eliminates down payment. No MIP, No PMI Refundable Earnest Deposit and $100 Membership Fee are required Most settlement costs covered by Seller Contributions (depending on income)
SPECIAL PURCHASE FINANCING PROGRAM
Best of all... purchase financing is available to qualified buyers at competitive rates and terms from local credit union lending sponsors already committed to providing affordable loans for New Parkchester buyers.
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UNIT SIZE CHOICES
Select from a limited supply of 7 different models that vary from 1 Bedroom to 4 Bedroom unit sizes. Each stage will have a small number of various models.
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First year Home Warranty plan with low co-pay included in purchase price for all new buyers
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Affordable and stable monthly operating assessments (including real estate taxes) based on a long time established management program
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All units are remodeled, have stainless appliances, full size washer/dryers, and individual HVAC systems
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New Parkchester includes off street parking, a tot lot, community center, fitness center, basketball court and more
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NO INVESTOR OWNERS
New buyers must be approved as Cooperative members and commit to living in their units (no sales to investor buyers)
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Special discount prices offered for all Stage 1 units plus additional incentives and rewards for the very first buyers (with commissions for confirmed DC licensed buyer agents/brokers up to 3% of the contract price).
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REDUCED UPFRONT COST
Buyer down payments are minimized with optional special financing from deferred payment seller loans for up to 20% of the purchase price (a minimum of 2.5% down payment is required to qualify for Seller deferred payment loans)
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LOW SETTLEMENT EXPENSE
Reduced closing costs and Seller subsidies to make lower out of pocket settlement expense
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