Incentives

Lydia’s House Grant Program

Buy at Kite House with $0 DOWN using a special forgivable grant program that is available ONLY AT KITE HOUSE.

Say goodbye to rent and open a new chapter on homeownership with payments as low as your current rent. The Ownership of Kite House has partnered with the nonprofit Lydia’s House, which has a long reputation of creating homeownership readiness for people in the District of Columbia.

Under The Parks at Walter Reed Homebuyer Down Payment Grant Program, up to $500,000 in grant funding will be available through Lydia House. Lydia’s House will offer Homeownership Readiness, education as well as down payment assistance grants to qualified purchasers with incomes below 120 percent of area median income (AMI).

To be eligible to receive a Down Payment Grant, potential homebuyers must:

• Have an annual household income at or below 120 percent of the area median income.
• Contact the Kite House sales team, Urban Pace,to review available units and learn more about qualifying for the program and Approved Lenders.
• Apply and become pre-qualified by an Approved Lender for a mortgage.
  ○ Thereafter, the Mortgage Lender will notify both the homebuyer and Lydia House that they have been approved.
  ○ Lydia House will notify the homebuyer that both the mortgage and grant have been approved and inform the homebuyer of the amount of the grant.
• The Homebuyer is required to register with Lydia House for their Homebuyer Readiness course within 10 days from approval notice.
• The Homebuyer shall complete the Homebuyer Readiness Course within 45 days from approval notice and prior to closing on the condo purchase.
• The Homebuyer must contribute a minimum of $5,000 toward the purchase, which may be in the form of a deposit on the sales contract, funds due at settlement or items paid in conjunction with the Homebuyer’s mortgage.

Grant funds are limited so don’t wait, call us today to learn more and schedule a tour.

Seller Interest Rate Buydown Available for ALL Purchasers!

Save on your closing costs or hundreds on your monthly payment.

See how much you can save when you compare monthly payments at today’s market rates through our builder-paid buydown! In addition to competitively priced homes and access to our forgivable grant program, Kite House is offering a 2% incentive to all purchasers that can be used to buydown your interest rate or pay closing costs. This added flexibility gives buyers the opportunity to tailor their financial needs, whether that means lowering their monthly payments or easing the burden of upfront costs, making homeownership more accessible and affordable. It’s the perfect solution for those looking to make a smooth transition into their new home at Kite House. Contact our sales team to learn more.

*Receive up to a 2.0% incentive from Seller when you purchase a new home at Kite House. Purchasers must use one of the builder’s preferred mortgage companies and designated title company to receive the incentive. Incentive may be used toward closing cost credits, rate buydowns and/or optional selections on select homes. 4.625% Financing Scenario assumes a 30-year fixed rate mortgage, rates effective 09/20/2024. Assume an owner-occupied purchase with a $364,900 purchase price, loan amount of $346,655, a $18,245 down payment (5%) and 780 credit score. 2-1 temporary buydown financing scenario assumes an interest rate of 6.625% for years 3-30. (6.839% APR) In this scenario, buyer would have a 4.625% rate in year one, and a 5.625% rate in year 2 two with $8,350.28 in temporary buy down fees (paid by the Seller). Payment assumes $50 per month in homeowners’ insurance, $259 in property taxes, and $121.55 in MI fees. Payment does not include condo fees which are estimated at $311.17 per month. Interest rate buydown is only for the first two years of the loan. Incentive not available on existing contracts. Additional terms may apply. Rates, terms and availability of programs are subject to change without notice. Offer valid on select homes only. Please contact our onsite Sales Managers to learn more about our available homes and incentive programs.