Wednesday, March 1, 2017

Looking for Home Buyer Programs in Frederick, MD and other parts of the State?

Homebuyer Programs in the Frederick Area and Beyond

Looking to buy a home in the Frederick, Maryland area? There are a number of programs available to prospective buyers to help with various aspects of home ownership. Below is a brief description of each and the link to each website.

Frederick Community Action Agency (FCAA)
The Frederick Community Action Agency provides multiple programs to owners and buyers. These include the HUD-Approved Housing Counseling Agency, Homebuyer Education classes, Weatherization Assistance Program, and the Housing Rehabilitation Program. The two programs require applications in order to obtain funds or small grants from each program, and are based on income eligibility. Homebuyer Education classes are open to any interested first-time homebuyers. The Counseling Agency provides information and assistance in understanding the buying process as well as housing counseling for renters, owners, and buyers on a number of subjects.

Moderately Priced Dwelling Unit Program
Currently, there are no new moderately-priced dwelling units being developed in Frederick. However, if you are interested in finding out more about the program or would like to discuss options, the Frederick Community Action Agency is taking consumer questions and concerns.

Community Partners Incentive Program (CPIP)
The Community Partners Incentive Program gives income-eligible first-time home buyers up to $5,000 toward the purchase of a home in the city of Frederick. The maximum loan is broken down to equal a max of $2,500 from the City of Frederick and a max of $2,500 from the Maryland DHCD. The CPIP is part of the Maryland Department of Housing and Community Development (DHCD) and is administered by the Frederick Community Action Agency.

House Keys for Employees Program (HK4E)
As part of the Maryland House Keys for Employees program, the City of Frederick offers eligible full-time and part-time employees of the City up to $8,500 to buy a home within city limits. The program is administered through the Maryland Department of Housing and Community Development, and the Frederick program is administered by the Frederick Community Action Agency in conjunction with the City Department of Human Resources. Interested employees should contact the FCAA or the human resources department for more information.

The US Department of Agriculture Rural Development
If you live on a farm or a rural area, you may be eligible for loans or grants from the Department of Agriculture Rural Development. Some of their programs include the Single-Family Housing Guaranteed Loan Program, the Single Family Housing Direct Home Loan program, the Single Family Housing Repair Loan/Grant program, and the Multi-Family Housing Loan program. Many of their program include income eligibility restrictions, so be sure to read their website and program requirements thoroughly.

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