Next HUD Approved Housing Counseling Agency Dates
Please register http://www.thefreedownpayment.com/class_registration.html
Registration 8:30 am
Starts @ 9
1 Break
class ends at 4:30 pm
Dates
March 13
March 27
April 10
April 24
May 8
May 22
June 12
June 26
Friday, March 12, 2010
Monday, March 1, 2010
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**
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**
Wednesday, February 24, 2010
Up to $35,000 for Those who Work and Buy a Home in College Park
Homebuyers who buy their home and work in College Park may be eligible to receive up to $35,000 in closing cost and down payment assistance through the WORK & LIVE COLLEGE PARK program.
CDA Eliminates MMP+ Program But Lowers Rates
Effective 2/23/10, the 3% and 2% grants, by raising the rate, will no longer be offered. CDA has also announced that the rates will be lowered by .5%. That means 5.25% 0 points 5.125% with 1 point, 5% with 2 points and 4.875% with 3 points.
Remember, Prince Georges County employees can receive up to $18,500 in County grants and State 0% loans.
Don’t forget that Teachers get a discounted rate for Transfer tax and officers are exempt.
Remember, Prince Georges County employees can receive up to $18,500 in County grants and State 0% loans.
Don’t forget that Teachers get a discounted rate for Transfer tax and officers are exempt.
Thursday, February 18, 2010
ALERT!!! NSP FUNDING DEPLETION FEBRUARY 17, 2010
ALERT!!! NSP FUNDING DEPLETION FEBRUARY 17, 2010
Due to the unprecedented demand for down payment and closing costs assistance through the Prince George’s County Neighborhood Stabilization Program,
ALL AVAILABLE FUNDING FOR HOUSEHOLDS WITH INCOME ABOVE 50% OF THE AREA MEDIAN HAS BEEN DEPLETED AS OF CLOSE OF BUSINESS
FEBRUARY 17, 2010, PRIOR TO THE FEBRUARY 19, 2010 APPLICATION DEADLINE.
Completed applications received on February 18-19, 2010, for households with income above 50% of the area median, will be placed on a waiting list. Please note that placement on a waiting list will not guarantee funding.
FOR HOUSEHOLDS OUTLINED BELOW, WITH INCOME AT OR BELOW 50% OF THE AREA MEDIAN, NSP will continue to accept applications until funding reserved for this population is depleted.
Income Levels
1-Person Household 2-Persons Household 3-Persons Household 4-Persons Household 5-Persons Household 6-Persons Household 7-Persons Household 8-Persons Household
Very Low Income 50% $35,950 $41,100 $46,200 $51,350 $55,450 $59,550 $63,650 $67,800
Due to the unprecedented demand for down payment and closing costs assistance through the Prince George’s County Neighborhood Stabilization Program,
ALL AVAILABLE FUNDING FOR HOUSEHOLDS WITH INCOME ABOVE 50% OF THE AREA MEDIAN HAS BEEN DEPLETED AS OF CLOSE OF BUSINESS
FEBRUARY 17, 2010, PRIOR TO THE FEBRUARY 19, 2010 APPLICATION DEADLINE.
Completed applications received on February 18-19, 2010, for households with income above 50% of the area median, will be placed on a waiting list. Please note that placement on a waiting list will not guarantee funding.
FOR HOUSEHOLDS OUTLINED BELOW, WITH INCOME AT OR BELOW 50% OF THE AREA MEDIAN, NSP will continue to accept applications until funding reserved for this population is depleted.
Income Levels
1-Person Household 2-Persons Household 3-Persons Household 4-Persons Household 5-Persons Household 6-Persons Household 7-Persons Household 8-Persons Household
Very Low Income 50% $35,950 $41,100 $46,200 $51,350 $55,450 $59,550 $63,650 $67,800
Friday, January 29, 2010
Bowie Mortgage Assistance
Bowie Mortgage Assistance
City of Bowie
www.cityofbowie.org/grants
http://pgcar.com/pghome_homebuying/docs/Bowie-Mortgage-Assistance.pdf
Program Overview
Bowie Mortgage Assistance is a program offering up to $2,000 in closing costs when purchasing a primary residence within the incorporated limits of the City of Bowie. City of Bowie
City of Bowie
www.cityofbowie.org/grants
http://pgcar.com/pghome_homebuying/docs/Bowie-Mortgage-Assistance.pdf
Program Overview
Bowie Mortgage Assistance is a program offering up to $2,000 in closing costs when purchasing a primary residence within the incorporated limits of the City of Bowie. City of Bowie
Wednesday, January 13, 2010
Individual Home Buyer Consultation
We provide individual home buyer consultation in the following cities:
Largo, MD
Rockville, MD
If I do not qualify for a down payment assistance program; there are several ways to purchase a home with limited funds. A consultant will advise you on the multitude of options.
email info@thefreedownpayment.com
Largo, MD
Rockville, MD
If I do not qualify for a down payment assistance program; there are several ways to purchase a home with limited funds. A consultant will advise you on the multitude of options.
email info@thefreedownpayment.com
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