Montgomery County Closing Cost Assistance (HOC)

To Be Eligible:

At least ONE borrower must be working in Montgomery County.
Must be a first time home buyer. May not have owned or co-owned any residential property in the past 3 years. Three years of tax returns needed.
Buy a home costing no more than $429,619.
Total household income does not exceed current limits (see below).
MUST BE USED with the HOC First Trust Mortgage Purchase Program.
All HOC first mortgage interest rates can be used.

BORROWER MUST USE A HOC PARTICIPATING LENDER
Criteria:

Maximum loan amount is 5% of the sales price not to exceed $10,000.
Can be used to cover down payment, closing costs, escrows, or other prepaid expenses.
Current Maximum Sale Price is $429,619 - ALL Properties.
Current Maximum Income Limits: One person household $ 86,268**
Two person $ 123,240** Three or more: $ 143,780**