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Mortgage Financing for First Time Home Buyers - Montgomery County, MD

By
Industry Observer with Retired

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

Posted by

Roy Kelley, Retired, Former Associate Broker, RE/MAX Realty Group

Gaithersburg, Maryland  

Comments (11)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
This is good information for buyers in your area. Have a good weekend.
Mar 29, 2013 09:34 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Roy: It it good that first-time buyers in Montgomery County MD have programs available to assist them through the Housing Opportunities Commission.

Mar 29, 2013 09:43 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

roy, these programs are a huge asset to get first time home buyers going to a great home...so glad you are promoting it.  Happy Easter to you Dolores and family.

Mar 29, 2013 10:21 PM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Attention first-time homebuyers!! Rates are great don't wait!!! Call Roy today and let him help you find the perfect lender so you can begin looking for your dream home! 

Mar 29, 2013 10:25 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Roy, sometimes everyone needs a little assistance to move forward. Enjoy your day!

Mar 29, 2013 10:28 PM
Roy Kelley
Retired - Gaithersburg, MD

Your feedback is always appreciated.

Have a most enjoyable Easter weekend.

 

Daffodil, Kentlands IMG_2762

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Mar 29, 2013 10:35 PM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Roy - This is great information for home buyers to know.

Mar 29, 2013 11:07 PM
Roy Kelley
Retired - Gaithersburg, MD

It is sometimes a good idea to revisit old blogs and reblogs. We might even find some good ideas for new posts.

Apr 11, 2018 09:45 AM