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Enjoy your journey to homeownership!
Maryland Mortgage Program at http://www.mmprogram.org/
And HUD Homeownership Assistance: Maryland at http://www.hud.gov/local/md/homeownership/buyingprgms.cfm
Also there is the Home Advantage Program that can give you up to 4% down on a 0% interest, 30 year deferred loan.
No First Time Homebuyer Requirements
Primary Occupancy Only
No Acquisition Cost Limits
No Recapture Provisions
Income Evaluated on Applicants Only â€“ Not Household
Income Limit up to $97,000 for Applicant Income
No More Running out of Funds
Better Market Rates â€“ Rates Now Evaluated Daily
Down Payment and Closing Cost Assistance of up to 4%
0% INTEREST RATE AND NO MONTHLY PAYMENT ON ASSISTANCE!!!!!
No Reserves or Liquid Assets Required or Limited
All Buyers Using this Program Must Attend the Home Buyer Seminar
Home Buyer Seminars every Saturday and Two Wednesdays a Month!
On July 2, 2012, the Washington State Housing Finance Commission anticipates releasing the new Home Advantage Program. The Home Advantage Program replaces the House Key Program. This new program does not use tax-exempt bonds. It is a daily priced open market program which also provides down payment assistance in an amount up to 4% of the first lien loan amount.
The down payment assistance will be offered at 0% interest with deferred payments for 30 years and is due when the borrower sells, refinances or no longer occupies the home. No assessment of need or verification of liquid assets is required in order to receive the second mortgage.
Because tax-exempt bonds are not used in this program, the IRS guidelines followed in both the House Key Program are waived as per the Home Advantage Program Manual. There is no first-time homebuyer requirement, acquisition cost limit, business use of home limitations, IRS property restrictions, IRS forms, or recapture provision.
The income limit of $97,000 is applicable statewide for both the Home Advantage first and second mortgage.