Montgomery County, MD, Down Payment Money for First Time Home Buyers.
February 1st, 2011 by admin
DOWN PAYMENT MONEY FOR FIRST TIME HOME BUYERS MONTGOMERY COUNTY, MD. 2011.
Montgomery County, MD, Down Payment Money for First Time Home Buyers.
Homefinders.com is more than your dedicated Buyer’s Agent. We’ll help you find the very best home in your price range and area of choice. We also help our buyers understand the best financing opportunity available for you.
Contact Lenn Harley, Broker, Homefinders.com, 800-711-7988. We can help. Details of one of the financing opportunities available for Montgomery County are below.
FACTS about the RCCAP (Revolving Montgomery County Closing Cost Assistance Program).
1. 1st. Time Home Buyer measn no property ownership for 3 years.
2. Up to $10,000 for closing cost (2nd trust loan for Down Payment, Closing Costs or Pre-Paid costs.
3. One buyer must work in Montgomery County.
4. Maximum sales price is $429,619.
5. Income limits:
One person Household - $86,268
Two Person “ - $123,240
Three or more persons - $143,780
6. Buyers will attend a 3 hour home owner education class.
7. Must have ratified contract to apply.
8. Home inspection required for loan approval.
9. Interest rate for FHA first trust is 4% - 0 points.
10. Interest rate for 2nd Trust is 5%.
This entry was posted on Tuesday, February 1st, 2011 at 5:10 pm and is filed under First Time Home Buyers Mont. County MD.. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
