Buying a home in District of Columbia

District of Columbia's effective property-tax rate is about 0.888%of a home's value per year, about the same as the U.S. average of 0.888%. On a $500,000 home that's roughly $4,440 a year.

Full District of Columbia property-tax guide →

District of Columbia involves an attorney at closing, and District of Columbia levies a real-estate transfer/deed tax of about 1.1% — customarily buyer-paid. recordation ~1.1–1.45% (buyer) + transfer ~1.1–1.45% (seller); first-time-buyer recordation 0.725% ≤ $400k — confirm locally. On a $400,000 home, estimated closing costs run about $12,842–$16,942 on top of your down payment.

Full District of Columbia closing-costs guide →

District of Columbia runs a housing finance agency with first-time-buyer help: down-payment assistance, below-market first mortgages, and mortgage tax credits.

See first-time buyer programs in District of Columbia →

What you can afford depends on your income, debts, and down payment, not just the home price. District of Columbia's property taxes above feed straight into the monthly payment lenders measure against your income.

Enter your numbers once and see your real affordability range, debt-to-income, and rent-vs-buy break-even for District of Columbia:

Home Buying Steps walks you through the whole process, from checking if you're ready to getting pre-approved to closing day, one clear step at a time, tailored to District of Columbia where the rules differ.

• 1. Are you ready? — budget, credit, rent vs. buy
• 2. Get your finances in order — pre-approval
• 5. Making an offer — earnest money & contingencies
• 10. Closing day — every cost, line by line