Takoma Park Home Stretch

If you are seeking to purchase in Takoma Park, MD, the city has introduced a new program that provides $5,000 in forgiven down payment assistance.  Live in the property for 5 years, and you won’t have to pay back the assistance!

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To qualify, you must purchase in the city of Takoma Park MD, and not have owned any real estate within the last five years, and meet the household income requirements.

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To become eligible for the program, you must complete a HUD approved first time buyer course.  Four of these approved agencies operate in Montgomery County:

The property must also pass a home inspection.

The maximum amount of mortgage payment you will qualify for will be based on 30% of your gross monthly income.  The minimum contribution of your funds towards the purchase is $1,000…though you will cover whatever down payment amount and closing costs are not otherwise covered by the seller or the $5,000 in down payment assistance.

Questions? ajaffe@firsthome.com or 240 479 7658

Ready to pre-qualify?