Down Payment Programs

[timmytulip85]

Does anyone know of any down payment assistance programs that work with NACA in the MD/DC/VA area? Thanks

[quietboo]

I would like to know as well, looking to buy in dmv area too.

[Nelsont]

I am in Baltimore. Maryland does not have any. I cannot speak to DC or VA.

[quietboo]

@Nelsont so the ones listed on this website do not work with NACA? https://www.hud.gov/states/maryland/homeownership/buyingprgms

[Nelsont]

I am going on 2019 data. I don’t know if anything has changed for 2020.

Here’s the criteria:

100% of the grant must be able to be used for down payment

There cannot be a requirement for any part of the grant to be used for closing costs

The grant cannot be considered a forgivable loan (the grant cannot have any repayment stipulations)

The grant cannot be have a minimum length of stay requirement

The grant must allow you to choose bank of America as your lender

The grant cannot list required lenders if bank of America is not listed

The grant must be able to work with HUD certified agencies (naca)

The grant must essentially be a complete gift to be used by you as you see fit for any house with no requirements from the grantor other than being a current resident and possibly a first time homebuyer.

[quietboo]

Oh i see…did not know they had a specific criteria…thanks for sharing

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