May 19, 2017

County Executive Ike Leggett Announces New Homeownership Program

County Executive Ike Leggett announced a new program to help qualified applicants purchase a home with the support of the Montgomery Homeownership Program. The down payment assistance program is available for buyers with qualified incomes to purchase a Montgomery County home as their primary residence, up to a $429,000 sale price (up to $525,000, in certain neighborhoods.)

Applicants who qualify and are approved may access Down Payment Assistance loans in amounts up to $40,000 – or up to 40 percent of the household income of the prospective homeowner – whichever is less. Approved buyers also will receive a below-market rate Maryland Mortgage Program Loan.

Montgomery County has committed $1 million to this program; applications will be accepted while funds remain available.

For more information to apply, visit Montgomery Homeownership Program or press release.

No comments:

Post a Comment

Thanks for submitting comment to Paperless Airplane.