First-Time Home Buyer program
lowest costs - lower payment
$0 money down - 3%, 5% down
down payment assistance
Pay lowest closing costs and explore;
1) No money down option
2) Down payment & closing costs assistance
3) Pay lowest possible monthly payment
- more details below
Choice First-Time Buyer - CFTB
Closing costs assistance
When you are approved for the Choice First-Time Buyer program, you will come to the closing table knowing you are paying the lowest costs to buy your home. Most cases a minimum of $1,500 assistance through grants, rebates and/or loans. In some scenarios you will pay no closing costs. Montgomery County, Maryland is a very expensive place to live. We will make sure you buy your first home for the best price and terms. We also make sure you pay the lowest costs to purchase it. Before you get started seeing homes, we will explore all available options including the ones below, to see what you qualify for and which make the most sense based on your finances and your personal goals.
Buy with 0% down payment
Low monthly payment. No mortgage insurance or 2nd loan to pay back.
Up to $450,000 sales price.
This is not through a USDA or VA loan.
No fees rolled into the loan like FHA & VA
For more details, visit our >>$0 down payment for 1st time buyers page.
Down payment assistance
With a typical conventional loan you will be required to have a down payment of at least 3%. Get help with these funds, which is one of the biggest obstacles for buyers to purchase their first home.
-- 1st time buyer(s)
-- purchase in Montgomery County, Maryland
-- make less than 150k household income, 118k if applying for $0 down option, 140k for down payment assistance
-- good credit
(above are minimum guidelines, and don't guarantee approval)
★ Get your Montgomery County Homebuyer's Guide - Programs & Benefits
$350,000 sales price example, the estimated total funds needed at closing including closing costs= $12,145
- >>see Closing Cost Calculator
*Ask for details of our Guarantee. Not everyone qualifies. You may qualify for some but not all of the benefits listed in the Program.
*Ask for details of down payment assistance and closing cost programs. Not everyone qualifies and some offers can't be used with certain loan programs.
*Minimum sales price $150,000 to be eligible, although inquire about an exception. All details are addressed upfront.
*Depending on the program, any assistance may be capped at your total closings costs and may not go towards your down payment. With Down payment assistance, it goes only to the down payment and not towards anything else.
*Any and all scenarios shown are to present helpful information estimates for your better understanding. No interest rates, or amount of assistance, or grant, or cost savings, or payment savings, or anything else is promised. Rates and program guidelines can change any time. Actual numbers are communicated and put in writing once we know your specific situation and you get your approval for any of the benefits of this program and offers.
*When there are no closing costs with a specific program, there will obviously be no closing cost assistance. The assistance is that there are no closing costs.
*Being eligible to apply does not guarantee approval, and lenders will take into account things like your income, credit history and employment situation when considering your application.
*Our designated Agent will represent you as your real estate agent for your home purchase and any assistance and programs can only be applied to the transaction at closing.
*Depending on what you qualify for, you may need to use a lender we designate.
*All buyers must have good credit