Transcription of ABOUT DOWN PAYMENT ASSISTANCE (DPA)
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ABOUT DOWN PAYMENT ASSISTANCE (DPA)
FACT SHEET: PARTNER MATCH programs For more information, please visit: CDA Single Family Housing Maryland Department of Housing and Community Development 7800 Harkins Road Lanham, MD 20706 Toll Free (Maryland Only): 800-756-0119 x3 UPDATED 5/6/2020 Partner Match programs offer additional down PAYMENT and/or closing cost ASSISTANCE for qualified borrowers utilizing certain Maryland Mortgage Program (MMP) loans. Participating partners provide ASSISTANCE to borrowers who meet the criteria established by the partner. Partner Match funds may be utilized with 1st Time Advantage 5000 or Flex 5000 loans. MMP matches the partner s contribution dollar-for-dollar up to a maximum of $2,500. The match funds are added to the $5,000 of existing product ASSISTANCE for a total of $7,500 in a zero percent deferred loan which is repayable when the home is sold or transferred, or when the first mortgage is paid off or refinanced.
down payment & closing cost assistance The costs of down payment and settlement can overwhelm first-time homebuyers and is listed as the number one barrier to homeownership. The Maryland Mortgage Program provides help in the form of Down Payment Assistance, as well as …
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