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.
Program details
How to evaluate Montgomery Employee Down Payment Assistance Loan (MEDPAL)
Use the program summary below as a screening guide, then verify the current program rules for your household, property and mortgage before relying on the assistance.
Key points to compare
Assistance: A flat $50,000 down-payment and closing-cost assistance second loan.
Buyer profile: Eligible first-time buyers employed by specified Montgomery County departments and purchasing in Montgomery County.
Location: Montgomery.
Repayment or structure: 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 and underwriting: Credit, income, property and underwriting requirements apply.
What to verify before you apply
Before choosing a program, confirm current funding or reservation availability, household-income rules, purchase-price limits, occupancy requirements, property eligibility and the mortgage products that can be paired with the assistance.
Also verify whether first-time homebuyer status is required, what borrower funds must come from you, whether homebuyer education is required and when any second loan or grant would become repayable.
Those details can change by program and can affect which option provides the best fit for a specific transaction.
Related Maryland homebuyer resources
Compare Maryland homebuyer programs or use the program finder for a personalized shortlist.
Because this program is location-specific, also review Montgomery County homebuyer programs for local limits, other assistance and statewide options that may apply in the same area.
Want a personalized program shortlist?
Answer the finder questions and compare the programs that may fit your location and buyer profile.
Find a Program