Homebuyer Programs in Silver Spring, MD (2026)
Silver Spring is a large census-designated place in Montgomery County, Maryland, situated just north of Washington, D.C., with a median home price around $530,000. Homebuyers here benefit from some of the strongest county-level assistance in the state, including the Montgomery Homeownership Program offering up to $25,000 in down payment help and the Montgomery Employee Down Payment Assistance Loan (MEDPAL), also providing $25,000 for qualifying county employees. The HOC Revolving Closing Cost Assistance Program (RCCAP) adds up to $10,000 toward closing costs. Combined with Maryland state programs like the 1st Time Advantage and Flex Loan, eligible Silver Spring buyers could stack $30,000 or more in total assistance toward their purchase.
Top Homebuyer Programs in Silver Spring
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| HOC Revolving Closing Cost Assistance Program (RCCAP) | Zero-Interest Loan | 5% of the sales price, up to $10,000 | Yes | View → |
| Montgomery County Homeownership Assistance Fund (McHAF) | Deferred Loan | Up to $25,000 | Yes | View → |
| Montgomery County MPDU Homeownership Program | Deferred Loan | Below-market purchase price on regulated housing units | Yes | View → |
| Montgomery Employee Down Payment Assistance Loan (MEDPAL) | Deferred Loan | $25,000 | Yes | View → |
| Montgomery Homeownership Program | Deferred Loan | Up to $25,000 (40% of qualifying borrower income, maximum $25,000) | Yes | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| Habitat for Humanity Metro Maryland Homeownership Program | Zero-Interest Loan | Affordable mortgage with zero-interest terms | No | View → |
| Maryland HomeAbility | Deferred Loan | Up to 25% of the purchase price or $45,000 for down payment and closing costs | No | View → |
| Maryland Mortgage Program - 1st Time Advantage | Deferred Loan | Up to $6,000 or 3%-5% of the first mortgage amount | Yes | View → |
| Maryland Mortgage Program - Flex Loan | Deferred Loan | Up to $6,000 | No | View → |
| Maryland SmartBuy 3.0 | Forgivable Loan | Up to 15% of the purchase price or $20,000, whichever is less | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- 5% of the sales price, up to $10,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $25,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Below-market purchase price on regulated housing units
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- $25,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $25,000 (40% of qualifying borrower income, maximum $25,000)
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with zero-interest terms
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to 25% of the purchase price or $45,000 for down payment and closing costs
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $6,000 or 3%-5% of the first mortgage amount
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $6,000
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to 15% of the purchase price or $20,000, whichever is less
- First-time only:
- No
How to Apply
- Step 1:
Check your eligibility. Montgomery County programs generally require household income at or below 80% of Area Median Income (AMI). The MEDPAL program is limited to Montgomery County government employees. All programs require the home to be located in Montgomery County and used as your primary residence.
- Step 2:
Complete homebuyer education. All county and state programs require a HUD-approved homebuyer education course. Housing Initiative Partnership (HIP) and HomeFree-USA both offer classes in the Silver Spring and Montgomery County area. Contact HIP at 301-916-5946 or HomeFree-USA at 301-891-8400 to register.
- Step 3:
Contact the Housing Opportunities Commission (HOC). Call HOC at 240-627-9400 to learn about the Montgomery Homeownership Program, RCCAP, MEDPAL, and the MPDU Homeownership Program. Staff can confirm current income and purchase price limits and help determine which combination of programs fits your situation.
- Step 4:
Get pre-approved with an approved lender. HOC and Maryland Mortgage Program loans must be originated through approved lenders. Your lender will determine which county and state programs you qualify for and can stack together.
- Step 5:
Find a home within program limits. Montgomery County sets maximum purchase price limits that are updated annually. Your lender or HOC can confirm the current limits. The MPDU program applies only to designated Moderately Priced Dwelling Units.
- Step 6:
Submit your applications and close. Your lender coordinates the county DPA applications alongside your first mortgage. The Montgomery Homeownership Program and MEDPAL provide zero-interest deferred loans repayable upon sale, refinance, or transfer. The RCCAP is repaid in monthly installments over 10 years.