Down Payment Assistance for Maryland Montgomery County Buyers

Down Payment Assistance
Maryland First Time HomeBuyers
AT A GLANCE

HOC
Are you a 1st Time Home-buyer?

HOC
Do you need money for Down Payment?

HOC
HOC may be the answer you have been looking for

HOC
For 1st Time Home-Buyers

HOC
Working in Montgomery County

HOC
Buying in Montgomery County

HOC
Meets Income Limits

HOC
Meets Income Limits
Meets Loan Amount Limits

HOC
This Financing is called:

HOC
This Financing is called:
Revolving Closing Costs Assistance Program

HOC
It’s a loan up to
5%
of the Purchase Price
or $10,000

HOC
Can be used for

HOC
Can be used for
Down Payment

HOC
Can be used for
Down Payment
And
Closing Costs

HOC
Must be used with an
FHA LOAN

HOC
How it Works:

HOC
How it Works:
FHA Financing is used for the purchase

HOC
How it Works:
FHA Requires 3.5% for the Down Payment
Reference FHA Down Payment at a glance click here

HOC
How it Works:
FHA Requires 3.5% for the Down Payment
HOC’s program finances the Down Payment

HOC
Example:

HOC
Example:
Purchase Price:

HOC
Example:
Purchase Price:
$200,000

HOC
Example:
Purchase Price:
$200,000
Down Payment

HOC
Example:
Purchase Price:
$200,000
Down Payment
$7,000

HOC
Example:
Purchase Price:
$200,000
Down Payment
$7,000
HOC’s program
$10,000

HOC
Example:
Purchase Price:
$200,000
Down Payment
$7,000
HOC’s program
$10,000
$7,000 for Down Payment

HOC
Example:
Purchase Price:
$200,000
Down Payment
$7,000
HOC’s program
$10,000
$3,000
For Closing Costs

HOC
Example:
HOC’s program
$10,000
$3,000
For Closing Costs

HOC
Example:
Do you mean that I can split the money between closing costs and down payment?
HOC’s program
$10,000
$3,000
For Closing Costs

HOC
Example:
Do you mean that I can split the money between closing costs and down payment? YES
What if I only want to borrow enough for down payment. Can I do that?
HOC’s program
$10,000
$3,000
For Closing Costs

HOC
Example:
Do you mean that I can split the money between closing costs and down payment? YES
What if I only want to borrow enough for down payment. Can I do that? YES
HOC’s program
$10,000
$3,000
For Closing Costs

HOC
The Terms of the Loan

HOC
*Interest Rate is 5%
5.0 APR
* As posted on HOC’s website 6/25/09. subject to change without notice. Call Mario for current details cell 240 353 - 5102

HOC
5.0 APR
It’s a 10 year loan

HOC
5.0 APR
It’s a 10 year loan
$10,000 loan amount = $106.07 payment

HOC
Interest Rates on
FHA’s program
Are posted on HOC’S website
(must Use Hoc’s rates and they also underwrite the FHA loan as well)
www.Maryland-fha-loans.com

HOC
INCOME LIMITS
HOUSE HOLD SIZE
One person: $86,268

HOC
INCOME LIMITS
HOUSE HOLD SIZE
One person: $86,268
Two Persons: $123,240

HOC
INCOME LIMITS
HOUSE HOLD SIZE
One person: $86,268
Two Persons: $123,240
Three or more: $143,780

HOC
Maximum Sales Price
$429,619

HOC
Important To Know

HOC
Important To Know
Your lender must be on HOC’S approved List

HOC
Important To Know
Like Mario
You must receive a First Time home buyers certificate

HOC
Important To Know
Like Mario
You must receive a First Time home buyers certificate
The flow….time frame to close an HOC loan is different, will need to write the contract to allow enough time.

HOC
Important To Know
Like Mario
MONIES do RUN out From time to time you will need to be kept abreast

HOC
Important To Know
Like Mario
MONIES do RUN out From time to time you will need to be kept abreast….follow Mario for up to date information on www.maryland-fha-loans.com

HOC APPROVED LENDER
Mario Blautzik
Senior Loan Officer
Cell 240 353 – 5102
FHAREMODEL@GMAIL.COM
Apply on-line
Last updated 6/19/09 information subject to change , call for current details

HOC APPROVED LENDER
HOC’S LINKS
5 FOR 5 PROGRAM
HOC’S Daily Rates
Other At a Glance presentations:
FHA’s Down Payment
$8,000 Tax Credit 1st time home buyers
Mario Blautzik
Senior Loan Officer
Cell 240 353 – 5102
FHAREMODEL@GMAIL.COM
Apply on-line
Last updated 6/25/09 information subject to change , call for current details