In Washington DC, Maryland, and Virginia there are many homebuyer programs and grants that offer financial assistance to those looking to purchase their first home. Contact me to check your eligibility and learn more about each program.

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DC Open Doors

  • This program offers interest-free, fully forgivable second trust loans for the full amount of a buyer’s minimum down payment requirement.
    • 640 credit score
    • 45% maximum debt to income ratio
    • $132,360 income maximum

Home Purchase Assistance Program (HPAP)

  • This first-time homebuyer program provides down payment and closing cost assistance in the form of interest-free loans to qualified applicants for the purchase of their primary residence. The maximum amount of financial assistance is $80,000, based upon household income, need, and fund availability. Closing cost assistance is provided separately and is calculated at 4% of the purchase price or $4,000, whichever is less.

Employer-Assisted Housing Program (EAHP) 

  • This program provides assistance to Washington D.C. government employees who are first-time homebuyers in the District. Eligible employees include public school and public charter school teachers, police officers, firefighters, and emergency medical technicians. They can receive matching down payment funds up to $5,000 and a deferred loan of up to $20,000. 

1% Down Equity Boost Program

  • This program allows buyers to put down 1% on a conventional loan, with their lender contributing 2%, giving a total of 3% equity at closing. Call our lender partner Ben Balser at Potomac Trust Mortgage if you’re ready to take advantage of this special program.

DC’s Mortgage Credit Certificate

  • Mortgage Credit Certificate provides qualified borrowers the ability to claim a Federal Tax Credit of 20% of the mortgage interest paid during each calendar year. DC’s MCC may be used with a Conventional, VA, FHA 30 Year Fixed Rate Mortgage or an FHA Adjustable Rate 1st Trust Mortgage.
    • Must be a first-time homebuyer
    • Can be used for single-family residences only
    • Income and sales price limits apply

Montgomery Homeownership Program II

  • This program gives eligible homebuyers purchasing in Montgomery County up to $25,000 in down payment assistance via zero percent deferred loans. These funds can be used for down payment and/or closing costs.

Maryland Homecredit Program

  • This program provides eligible homebuyers with an annual federal tax credit equal to 25% of the value of mortgage interest payments (up to $2,000) paid each year, for the life of the loan (i.e. until payoff, sale, refinance or transfer). Homebuyers apply for a Maryland HomeCredit through an approved mortgage lender.
    • Must be a first-time homebuyer (or 3-year rule)
    • Purchase must be your primary residence
    • Income and sales price limits apply

Maryland Mortgage Program (MMP)

  • This program features Down Payment Assistance in the form of an additional loan. This zero percent deferred loan can be up to $5,000. You only ever pay back the principal (there’s no interest) after you complete all payments on the main Maryland Mortgage Program mortgage, or if you refinance, sell or otherwise vacate the home.
    • Minimum credit score: 660 (FHA) and 640 (Conventional)