April 2020 update: this program is currently suspended.  See other programs which are currently available at

We just released the Springboard down payment assistance program, which is available for home buyers in Maryland & Virginia!

This is a conventional loan program without mortgage insurance which comes with a repayable down payment assistance loan of 4% of the purchase price.

This 4% loan can be applied to both down payment and closing costs.

For purchase prices below $500,000 the minimum down payment would be 3%, and so the 4% down payment assistance loan could cover the down payment and some closing costs.

For purchase prices $500,000 to $764,000, the minimum down payment is 5% and so the down payment assistance would cover most of the down payment.

A buyer could still work to negotiate to have the seller assist with closing costs, via a seller credit.  This would potentially allow a buyer to get both down payment and closing costs covered for them, at purchase prices up to $500,000. Learn more: closing costs & seller credits. (The maximum seller credit allowed is 3% of the purchase price).

While the loan program allows credit scores as low as 660, I would recommend credit scores over 700, since the loan terms are more favorable.

The program has an income cap of 140% of median income, so ~$164,080.

The program will mostly be utilized if at least one purchaser/borrower is a first time home buyer.  But the purchaser(s) do not have to be a first time buyer if they either a) owned more than 3 years ago or b) have income under $117,200 or c) put at least 5% down (and they can still get the 4% assistance).

Completion of an online first time buyer course is required.  I recommend this course (please note it costs $75 to complete):

Interested in learning about other programs with down payment assistance?  Visit

Questions? or 240 479 7658

Ready to pre-qualify?