Homebuyers may use additional incentives totaling more than $2,500; Maryland will not match funds greater than $2,500.
The maximum eligible income for a household of 1 or 2 persons is $115,800. The maximum eligible income for a household of 3 or more persons is $135,100.
|Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.|
|The home must be the homebuyer’s primary residence.|
|Mortgage loan cannot exceed $525,901.|
|Incentive may be used toward downpayment and closing costs.|
|This is a 0% interest deferred loan (You must repay this loan when you refinance your mortgage, transfer ownership, or sell the home).|
|Homebuyer may not own any other properties, including investment properties, at time of settlement.|
|This incentive may be used in addition to other incentives.|
|Homebuyer must use a Community Development Administration (CDA) mortgage loan.|
|Homebuyer must use an approved lender.|
For More Information
Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3