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Montgomery County $25k Assistance

The MMP program has a new option in Montgomery County!  Purchasers can now apply for Montgomery Homeownership Program VIII which provides up to $25,000 in down payment and closing cost assistance.  The amount of assistance is determined by your household income, and is set at 40% of your total income.  So a family earning $62,500+ will receive $25,000 in assistance, or a family earning $40,000 will receive $16,000 in assistance. This program is available to first time home buyers, or at least people who have not owned real estate within the past 3 years.

The money must be repaid without interest when you move out or sell.  The assistance from this program cannot be combined with any other down payment assistance programs…but with up to $25k in assistance, you frankly won’t need to utilize any others!

Interest rates are set by the state and are posted daily here: https://mmp.maryland.gov/Lenders/Documents/IR/Rates.pdf

Learn more about this program here: https://mmp.maryland.gov/Lenders/Documents/FactSheets/MontgomeryHomeownershipProgramVII.pdf

Questions?  [email protected] or 240 479 7658

Ready to pre-qualify?