Montgomery Homeownership Program
Funding status: Active
How much assistance
Up to $25,000 (40% of qualifying borrower income, maximum $25,000) (Deferred Loan)
Zero-interest deferred second mortgage. Forgiven after 30 years if not already paid off. Any funds not needed for down payment or closing costs are applied to principal curtailment.
Eligibility
- Income limits: Must meet Maryland Mortgage Program income limits for Montgomery County.
- First-time buyer required: Yes — Must not have owned a home in the past 3 years.
- Credit score minimum: 640
- Geographic restrictions: Must purchase a home in Montgomery County, Maryland.
- Homebuyer education required: Yes
How to Apply for Montgomery Homeownership Program
Step 1: Contact an MMP-approved lender to get pre-qualified. The lender will confirm eligibility for both the MMP first mortgage and the Montgomery Homeownership Program second mortgage.
Notes
Initiative of the Maryland Mortgage Program in partnership with Montgomery County. The DPA amount equals 40% of qualifying borrower income, capped at $25,000.