|Fwd: [TakomaDC] Re: native Washingtonian, but never a property owner||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Fri, 17 Aug 2012 08:30:10 -0700 (PDT)|
And for Maryland: > In the state of Maryland, as a first time property owner, you are eligible to > avoid the state transfer tax which is .25% of the sales price. > > Other than that, there are down payment assistance programs both with the > state and with Montgomery County. > > For a one to two person household buying anywhere in the state of Maryland, > with income below $127,320, you are eligible for a $5000 down payment > assistance loan. > > For a two person household buying in Montgomery County with the same income > limit, you are eligible for a 3% down payment assistance loan. If you work > in Montgomery County, you are also eligible for an additional 5% of the sales > price in assistance, with a cap of $10,000. > > If you want more information on the above programs, check out > http://www.hcii.org. This is a non-profit which I am a part of and we teach > first time buyer classes for the county and state programs in Rockville. You > are required to get counseling from this organization or a similar one to get > down payment assistance. Here is the link to the full list of counseling > agencies: http://www.mmprogram.org/counseling.aspx Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
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