Mortgage Financing for First Time Home Buyers
Montgomery County Housing Opportunities Commission
Montgomery County, Maryland offers several special mortgage financing programs through the Housing Opportunities Commission. Qualified first time home buyers can obtain 30 year fixed interest rates with no points. Check for the daily interest rates and more information at www.hocmc.org. Click on Mortgage and Financing Programs.
One of the available options is to receive 3% of the sales price in purchase assistance which may be used for the down payment or closing costs. The deferred purchase assistance loan is without an interest charge. The borrowers do not have to work in Montgomery County. The property must be located in Montgomery County, MD.
The maximum sales price is $429,619. The maximum income limits are $89,160 for a one person household, $127,320 for a two person household and $148,540 for a household of three or more persons.
We are always available to recommend a mortgage lender that participates in the HOC programs.
Daffodils, Kentlands IMG_2764
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs
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