HOC Revolving Closing Cost Assistance Program (RCCAP)

How much assistance

5% of the sales price, up to $10,000 (Zero-Interest Loan)

Second mortgage repaid in regular monthly payments over a 10-year term at 5% interest.

Eligibility

• Income limits: Must meet HOC income and sales price limits.
• First-time buyer required: Yes — Must be a first-time homebuyer.
• Credit score minimum: 640
• Geographic restrictions: At least one borrower must be working in Montgomery County (regular daily workplace located in the county). Must purchase a home in Montgomery County.
• Homebuyer education required: Yes

How to Apply for HOC Revolving Closing Cost Assistance Program (RCCAP)

Notes

Can be combined with an HOC first mortgage through the Mortgage Purchase Program (MPP). Requires 10-year repayment at 5% interest — not deferred.

Cities Where This Program Is Available

• Silver Spring, MD
• Gaithersburg, MD
• Bethesda, MD
• Rockville, MD
• Germantown, MD