Gaithersburg Home Ownership Assistance Program

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Real Estate Agent with Realty Group Referrals 16766
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Gaithersburg Home Ownership Assistance Program

Loans are now available to assist with the cash requirements of the down payment and closing costs when purchasing a home to occupy.   Qualified home buyers that need help are encouraged to investigate the Gaithersburg Home Ownership Assistance Program.

Except for displaced tenants and “essential” personnel of the City of Gaithersburg, any household participating in the program must purchase a home within the city limits of Gaithersburg, Maryland.   Eligible displaced tenants and “essential” personnel may purchase within Montgomery County, Maryland. 

The maximum loan for a purchase within Montgomery County but outside of the City of Gaithersburg is $15,000.  The maximum loan for a home purchase within the City of Gaithersburg is $20,000.

Borrowers under this program must have a credit score of 620 or higher and must not have owned a home for at least three years prior to settlement.  Home ownership counseling must be completed within twelve months prior to settlement.

We advise all prospective home buyers to seek pre-approval for mortgage financing and to have a clear understanding of the cash requirements and the obligations of mortgage financing.   The information in this post was provided by Joe Salisbury, Manager, of the Gaithersburg office of Presidential Home Mortgage.  He may be reached at 301-590-8911 ext. 209 or by email at joe@presidential.com.

Our office, RE/MAX Realty Group, has an affinity relationship with Joe Salisbury and his company.  

Dahlias in Kentlands IMG_0179

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

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Rainmaker
5,387,201
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks so much for your comments.  Have an outstanding week.

Dahlias in Kentlands IMG_0034

Photograph by Roy Kelley.  Canon PowerShot G11 Camera.

Roy and Dolores Kelley Photographs

Jan 09, 2012 12:37 AM #10
Rainmaker
433,576
Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Roy - sounds like qualified home buyers would definitely benefit from the Gaithersburg Home Ownership Assistance Program. Good for you spreading the word! 

Jan 09, 2012 01:46 AM #11
Rainmaker
592,740
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Another pretty flower. Thanks!

A few counties in my area have a similar program, but here it is $3000-$5000, depending on the location. We also have RD 9USDA) Loans that still offer 100% financing.

Jan 09, 2012 01:52 AM #12
Ambassador
1,498,636
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Roy this is great information for the good people of Gaithersburg.  Make it a grand day in all you do my friend.

Jan 09, 2012 02:13 AM #13
Rainmaker
3,001,201
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Good morning Roy, This is fantastic information for home buyers in Gaitherburg. I see a lot of buyers who have the good credit but just not the savings for a down payment or closing costs. this program will help those out and make them home owners. Have a great Monday

Jan 09, 2012 03:00 AM #14
Rainmaker
1,778,626
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Nice that Gaithersburg still has this program, Roy. I'm glad you've gotten the information out to buyers in the area. You definitely are the go-to person; you know what's going on.

Jan 09, 2012 03:13 AM #15
Rainmaker
5,387,201
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for stopping by.  This is an excellent program for home buyers and may be combined with the available special financing for first time home buyers in Montgomery County, Maryland.

Pink Dahlias in Kentlands IMG_0455

Photograph by Roy Kelley.  Canon PowerShot G11 camera. 

Roy and Dolores Kelley Photographs

Jan 09, 2012 03:22 AM #16
Rainmaker
2,020,765
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Roy,

This is GREAT news for the people in Gaithersburg! This sounds like a great and affordable way for people to live in a community that cares about its people.

Your beautiful flower inspires others to grow and never give up hope.

Patricia

Jan 09, 2012 04:23 AM #17
Rainmaker
514,244
Maggie McFarland
RE/MAX Pearland - Maggie McFarland - Pearland, TX
Pearland Realtor, Homes for Sale in Pearland Texas

Hi Roy -

This is great! Hope many take advantage! Have a fantastic week!

Jan 09, 2012 04:43 AM #18
Rainmaker
96,693
David Artigliere
Reading, Pottstown, Norristown, Philadelphia - Collegeville, PA
ARTI Home Inspections, ASHI Certified Home Inspect

Roy,

It's good to know about this loan program in Gaithersburg.  Thanks for sharing this information!

 

Jan 09, 2012 05:57 AM #19
Rainmaker
1,204,544
Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Roy, This is great information for buyers in your area!  Great job and beautiful photos as always! 

Jan 09, 2012 06:54 AM #20
Ambassador
2,302,221
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Roy.  It is so great to know that there are still wonderful assistance programs out there for folks.

Jan 09, 2012 07:10 AM #21
Rainmaker
1,434,008
Yolanda Cordova-Gilbert
Richmond, TX

Roy,

                It is important to know what assistance programs are offered in your area. Good post for your area to promote this home buyer assistance program.

Jan 09, 2012 07:43 AM #22
Ambassador
1,853,951
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I love what Patricia said - and since I can't beat that - Ditto. Good job Roy and the flower message is also right on. Have a wonderful week. Debb

Jan 09, 2012 07:43 AM #23
Rainmaker
841,108
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

A beautiful flower Roy.

Jan 09, 2012 08:14 AM #24
Rainmaker
5,387,201
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I always appreciate your comments. For most of the afternoon, I have been unable to do anything on ActiveRain due to internal server errors.

Rose in Kentlands  IMG_0441

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Jan 09, 2012 10:30 AM #25
Rainmaker
4,085,753
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, great information for those first time home owners that would have the need for a down payment.

Jan 09, 2012 12:34 PM #26
Rainer
308,074
Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

It's great to hear about the various home loan assistance programs there are out there.  People really need it during these tough times.  No matter how little.

Jan 09, 2012 02:59 PM #27
Rainmaker
5,387,201
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Tuesday morning to all.  It is hard to beat the mortgage financing that is currently available for home buyers.  

Longwood Gardens IMG_2427

Photograph by Roy Kelley.  Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Jan 09, 2012 10:21 PM #28
Rainmaker
5,387,201
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have rainy weather in Maryland. Have a great day and an outstanding week.

Aug 29, 2017 06:01 AM #29
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