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You can stop renting & start owning by utilizing programs that assist with the
biggest hurdle to ownership, the down payment & closing costs!
You can stop renting & start owning by utilizing programs that assist with the biggest hurdle to ownership, the down payment & closing costs!
Down Payment Assistance & 1st Time Buyer Grant Programs
Baltimore City B-HIP DPA Program
This program provides a forgivable loan of up to $10,000 to eligible homebuyers purchasing a home in Baltimore City.
HPAP DC
Program
Offers home buying assistance for first time home buyers up to $202,000 plus $4,000 for closing cost assistance.
Frederick County HAP DPA Program
Program offers up to $12,000 in down payment and closing cost assistance for eligible first-time homebuyers.
Gaithersburg GHALP DPA Program
This program awards eligible first time buyers purchasing within the City of Gaithersburg $12,000 – $25,000.
Hagerstown Home Store DPA Program
This program offers buyers looking to purchase in Hagerstown $3,500 or up to $6,000 when paired with assistance.
Howard County SDLP DPA Program
The program provides a deferred loan with a maximum of $40,000 for eligible buyers and capped interest rate at 3%.
Pathway to Purchase Programs
The Pathway to Purchase Program provides first-time homebuyers looking to purchase in PG County up to $25,000 in assistance.
UnitedWay Prosperity Program
This program allows eligible ALICE households in Frederick County to receive assistance up to $17,000 that will be matched for every $1 saved.
Essex 101.5% Financing Program
The Essex 101.5% Financing Program offers buyers 5% of their loan amount in assistance. This program is eligible for repeat homeowners.
The Maryland Mortgage Program
(MMP)
SmartBuy 3.0
MMP SmartBuy 3.0 program helps homebuyers with student debt purchase a home. It will forgive student debt up to $20,000 through the financing of your home.
(MMP) 1st Time Advantage
MMP 1st Time Advantage program offers first time homebuyers either a fixed amount of $6,000, or a percentage of the total loan amount (3%, 4%, or 5%) in assistance.
(MMP) Flex
The Flex program offers either $5,000 or 3% of your loan amount in assistance. This program is available for repeat homeowners.
(MMP)
HomeStart
MMP HomeStart is designed for first time homebuyers with income at or below 50% of the AMI & provides 6% of the total loan amount in assistance.
MMP) Home
Ability
MMP Home Ability helps Maryland homebuyers with disabilities finance their home purchase with assistance up to $45,000 offered.
(MMP) Montgomery County
The Montgomery County program awards assistance to first time buyers looking to purchase within the county & offers up to $25,000.
Frequently Asked Questions
This answer truly depends. At a minimum we typically recommend having $1000 for your deposit on the contract, $500 for your home inspection, and $500 for the appraisal. From there, the seller could potentially cover the remaining closing cost that the down payment assistance program or grant does not therefore, this could be the minimum that you’ve had out-of-pocket, but it does just depend on how your contract is negotiated
We offer many different types of down payment assistance programs & grants. Some do entail a higher rate while others do not; it just depends on what program you are utilizing. The program you use will be based on the location you purchase within, your total income, program type, etc. Once we have completed your prequalification, we will be able to determine which program is the best fit for you and go over the parameters from there.
No, that is not always the case, and we offer programs for not only people that are not first time buyers but actually for people who own other real estate currently.
Yes, stacking different down payment assistance programs and grants is an option that we would discuss upon your prequalification.
The main difference between a down payment assistance program and a grant is that a grant is money that does not get paid back. A down payment assistance program is an interest free loan typically paid back when you sell or refinance the property.
Typically speaking there is a class that you will be required to take online that we will guide you through.
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Have questions or need guidance? Our team at Downpayment Assistance Maryland is here to support you every step of the way. Connect with us today to explore your options and make your homeownership dreams a reality!
At Down Payment Assistance Maryland, we understand that buying a home is one of the biggest investments you’ll ever make, but for many, the dream of homeownership can seem out of reach. Our mission is to change that by making the home-buying process more accessible for everyone, especially first-time buyers. We specialize in connecting you with down payment assistance programs, grants, and financing solutions that help ease the financial burden of buying a home.
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