Homestretch Downpayement Assistance Program
- Downpayment & Closing Cost Assistance
- Montgomery County
Summary
The City of Takoma Park offers a Down Payment Assistance Program called The Home Stretch, which provides financial assistance to eligible individuals and families seeking homeownership. The program provides grants to low- and moderate-income first-time homebuyers in the City of Takoma Park. Applicants must meet eligibility requirements. The city has also partnered with several organizations to expand affordable homeownership opportunities, and the Planning and Community Development Division manages various projects and activities related to community development and grants management.
Eligibility Requirements
- The applicant(s) must be at or below the specified total household area median income level for Montgomery County.
- The applicant(s) must complete a first-time homebuyer education course.
- The property must be located in Takoma Park, Montgomery County.
- The applicant(s) must be a first-time homebuyer.
- The property must pass a certified home inspection.
- The mortgage must be a fixed-rate mortgage.
- Housing costs must be at or below 30% of the applicant’s total annual income.
- The applicant(s) must contribute a minimum of $1,000 of their own funds towards settlement.
Contact Information
Division of Housing and Community Services
7500 Maple Avenue,
Takoma Park, MD 20912
Phone: 301-891-7100