There are several down-payment assistance programs currently available.
The CDA Maryland Mortgage Program provides low-interest mortgage loans to eligible homebuyers with low- to moderate-income households through private lending institutions throughout the State. The Program began in 1980 and is targeted primarily to first-time homebuyers.
Grants and settlement loan expense programs that can be combined to create virtually no-cost loans for first time homebuyers with little or no housing payment history.
The CityLIFT program provides $20,000 in down payment assistance funds to eligible homebuyers who are purchasing a home within Washington, DC and Prince Georgeâ€™s County, MD.
DPCCA, this program offers down payment and closing cost assistance to purchase a vacant foreclosed home. Eligible homebuyers must be either first time homebuyers or cannot have owned a home in the previous three years.
Community Homeownership Incentive Program or "CHIP" for short. Qualifying buyers can get up to 100% financing (NO MONEY DOWN) with NO PMI (Private Mortgage Insurance).
And more, depending on what City and/or County you want to live in?
Certain qualifications must be meet, to find out which program you qualify for, call or text me.
Realtor Juanita Brown.
New Savings for Military Homebuyers ~ MD Homefront $50 Million Initiative
$30 Million Targeted Areas Initiative Offers 2.875% Interest Rates for Maryland Homebuyers
Buy Suitland Initiative: Up to 5% of Home Purchase Price to First-Time Homebuyers Up to 7% for Local Civic Employees
Up to $10,000 Downpayment / Closing Costs Assistance with American Dream Downpayment Initiative
Receive Up to $15,000 for Down Payment from Participating Banks
Maryland Veterans Homeownership Initiative for Prince George's County
Sheriff & Police Officer Tax Breaks
Up to $35,000 for Those Who Work and Buy a Home in College Park
There are a number of programs available. Most are specific to an area (rural, state, county, city, etc), type of property (foreclosure, reo, etc) and buyer situation (income, credit, available cash, etc). So, its hard to give you specific advice without knowing more information.
Feel free to contact me. Im Workforce Housing Certified to assist buyers with limited funds. I can point you in the right direction.