As of 12/6/23 the initial $1.5 Million in funds were exhausted but Montgomery County allocated an additional $1.5 Million, which should be available for a few more months!

Montgomery County HOC announced today (8/4/23) a fund of $1.5 Million to provide down payment assistance for eligible home purchasers in Montgomery County.  The amount of assistance is up to $25,000 to be utilized for down payment or closing costs.  To learn more about eligibility for the HOC program including income limits and credit score criteria see

McHaf is only possible to pursue if the totality of your assets (outside retirement) are under 20% of the purchase price of the home.

There should be just over 60 reservations possible for the funds, and it’s only possible to reserve the funds after you have a signed purchase contract.

The HOC assistance comes combined with a mortgage to purchase the home, and the interest rate for the mortgage is set by HOC rather than us, and are viewable at

If a home buyer obtains the assistance and has their mortgage, and lives in the property for at least ten years, the entire amount of assistance is forgiven.  (1/120th of the assistance is forgiven monthly).

The amount of assistance is determined by multiplying the borrower’s qualifying income by 40%, with a maximum total of $25,000.  A home buyer with $60,000 in income would therefore be only eligible for $24,000 in assistance, since $24,000 is 40% of $60,000.

If rates decrease in the future, and you seek to refinance, HOC will allow us to submit to them a subordination request.  If they approve, they’ll allow you to refinance and retain your McHaf forgivable loan.  HOC allows this with McHaf down payment assistance, but not the regular HOC down payment assistance.

Questions? 240-479-7658 or

Ready to pre-qualify?

Step one, submit a request here:

Step two, after submitting, an online portal opens to which you may upload supporting documents.  Please note that you must declare all people who’ll occupy the property and must document all income for occupants 18+ years old:

    1. Driver’s licenses
    2. Last month of pay stubs
    3. Last two months bank statements including investment & retirement
    4. 3 years federal tax returns
    5. 2 years w2s
    6. Please complete this first time buyer class online, it’ll take 3-4 hours to complete. I’ve heard from numerous clients how helpful it is.  Provide the certificate after completion.