Down Payment Programs

Home Forums Purchase Program Down Payment Programs

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #69383
    timmytulip85
    Participant

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

    #69389
    quietboo
    Participant

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

    #69391
    Nelsont
    Member

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

    #69397
    quietboo
    Participant

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

    #69399
    Nelsont
    Member

    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.

    #69404
    quietboo
    Participant

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

Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter