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Frederick Md Homebuyers can get FREE Money for Downpayment on Foreclosures

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Real Estate Agent with RE/MAX Results

 

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Frederick MD home buyers can get between $15,000 and $25,000 toward down payment and closing costs if they buy a Foreclosed home, in Frederick City or the Municipality of Brunswick.  The name of the program is the Neighborhood Conservation Initiative.

 

You do not have to be a first time home buyer.  The house just has to be their Primary Residence. 

Buyers can get between $15,000 and $25,000.  This is a NO Interest loan that does not have to be paid back until you either: 1) refinance the loan, or 2) the home is no longer your primary residence. or 3) you sell the house. (The loan is forgivable after 15 years) There are also income restrictions but they are very liberal,  and the buyers have to take home buyer classes. About 8 hours total. You need to use a Local loan officer who has taken the NCI training, and also a local Realtor who has taken the training. 

There are income restrictions also. Anyone can get the $15,000.  If you buy in a targeted neighborhood then we can add and extra $5000 and if you work for a targeted employer you can add another $5,000. There are other programs in the City of Frederick that you can apply for that are similar. 

To get more information on this program go to the NCI website at www.co.frederick.md.us/nci Or call me.

 

 

 

Posted by

Peggy Magnanelli

RE/MAX Results

Peggymagnanelli@mris.com

240-674-8585

www.servinggreaterfrederickcounty.com

Specializing in Residential Real Estate in Frederick, Montgomery, and Washington Counties in Maryland

first time homebuyers, relocations, and Foreclosures