Air carrier First Officer reported they intercepted the initial charted visual approach from a high altitude; resulting in over correction to establish on the glide slope and a low altitude alert from ATC. The Captain arrested the descent and landed.

Narrative

CA was the flying pilot. On the FREEDOM 6 arrival; between waypoints VCTRY and HEROO at 4000 feet; ATC cleared us for a left turn heading 090 and down to 3000 feet. Once we were on the heading; ATC asked us if we have the river in site; I replied yes and ATC gave us heading 040 and cleared us for the Mount Vernon Visual. Our intercept heading put us between KATRN and BADDN. The position put us at high altitude to intercept the glide slope. The CA armed the approach but did not descend to capture the glide slope below us. I stated that we are high and need to get down to capture the glide slope below. The CA set a lower altitude and try to get down quick to capture it; the autopilot was slow to react and the CA disengaged the autopilot and tried to get down to capture the glide slope. We crossed BADDN below 1600 feet and tower informed us that we had a low altitude alert I replied by saying we were correcting. After arresting the descend; we were stable by 1000 AGL. We continued the approach visually and landed smooth.Cause: Low Altitude Alert by towerSuggestion: We should have descended as soon as we were clear for the approach. We should have probably just went around and try the approach again.