FHA guidlines are changing. Soon buyers will only be able to receive 3% seller contribution. They must have their 3.5% downpayment. In Maryland theres a minimum of another 3% that is needed to close the transaction. So, when your buyers ask where to get downpayment and closing costs help what do you tell them?
I send my buyers to a CDA approved lender.
Take a look at the Maryland Mortgage Program link.
With this program your buyers need only attend one 8 hour class with an approved housing counseling agency, receive a certificate, and win a contract.
F.Y.I.
Buying in DC? Try the HPAP program. Work in DC? Try the NEAHP program.
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