- Loans
- Statewide
Summary
HomeAbility is an exclusive offering meticulously crafted to aid prospective homebuyers in Maryland who have disabilities in securing financing for their home purchases. This remarkable product operates as a Conventional Loan, extending a generous loan-to-value ratio of up to 95% in the first lien, while also granting up to 25% (capped at $45,000) in a second lien to cover essential expenses such as down payment and closing costs. It is imperative to note that the combined loan-to-value ratio must not exceed 105%. The applicable interest rate for the first lien can be found on our dedicated Interest Rates page, whereas the second lien bears a 0% interest rate and defers payment until the first lien's lifespan, with payment becoming due upon the sale, refinance, or transfer of the home.
Eligibility Requirements
- The applicant(s) must have an individual income that falls within or below the Area Median Income Limits dependent on the county the property is being purchased in.
- One of the applicants must either have disabilities themselves or fulfill the role of a guardian, residing with, and serving as the primary caregiver for an immediate family member with a disability, irrespective of age.
Contact Information
7800 Harkins Road
Lanham, MD 20706
Phone: 1-800-638-7781