What it can provide
A flat $50,000 down-payment and closing-cost assistance second loan.
Who it is for
Eligible first-time buyers employed by specified Montgomery County departments and purchasing in Montgomery County.
Geography: Montgomery
Active / funds limited
Montgomery Employee Down Payment Assistance Loan (MEDPAL)
A flat $50,000 down-payment and closing-cost assistance second loan.
See If This May Fit MeImportant terms
0% deferred second mortgage; generally repaid on sale, transfer or refinance and forgiven after 30 years if not previously repaid. Borrower must contribute at least 1% of purchase price.
Credit / underwriting
Credit, income, property and underwriting requirements apply.
Program availability and rules can change. A match from Homebuyers Hub is an educational screening result, not an approval.
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