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Gaithersburg Homebuyer Assistance Loan Program
The city of Gaithersburg provides down payment and closing cost assistance for purchasers in the amount of $12,000 (blue areas) or $25,000 (yellow areas).
You will repay the assistance without any interest due. You may finance this loan alongside an FHA or Conventional or VA loan program. The minimum credit score is 620 for all applicants. You must not have owned real estate within the past five years. A radon and home inspection are also requirements of submission to the city. The income caps are based on household size and are:
Income Maximums* by Household Size
| Household Size | 1 Person | 2 | 3 | 4 |
| 100% | $108,290 | $123,760 | $139,230 | $154,700 |
| 120% | $129,948 | $148,512 | $167,076 | $185,640 |
| Household Size | 5 | 6 | 7 | 8 |
| 100% | $167,076 | $179,452 | $191,828 | $294,204 |
| 120% | $200,491 | $215,342 | $230,194 | $245,045 |
*Incomes are updated annually.
You must complete a first time buyer counseling class at one of these agencies:
- Housing Initiative Partnership
- NID Housing Counseling Agency
- Money Management International
- United Communities Against Poverty, Inc.
- Centro de Apoyo Familiar – Center for Assistance Families
Check property eligibility by looking up addresses here https://gaithersburgmd.maps.arcgis.com/apps/webappviewer/index.html?id=96e90fd0c8e84b7bb91144673fafa72b
Here are your next steps:
Questions? ajaffe@firsthome.com or 240 479 7658