Montgomery County Housing Opportunities Commission
First Time Home Buyer Program
Eligibility:
· Montgomery County Properties Only
· Maximum Sales Price $429,619
· First Time Home Buyer (Not having ownership interest in a primary residence during the
last 3 years or not on title of any property during the last 3 years)
· Maximum Income Limits per Household Size
One Person $ 82,650
Two Persons $118,080
Three or More $137,760
Loan Products:
· 30 Year Fixed; Interest Rate 5.75%; 100% Financing
· 30 Year Fixed w/3% Purchase Assistance; Interest Rate 6.25%
· 30 Year Fixed; Step Loan Program
Rate Mortgage Year
4.25% 1
5.25% 2
6.25% 3-30
Properties:
· Any Property in Montgomery County Except Cooperatives
· Requirement That All Resale Properties Receive an In-depth Home Inspection by a Qualified Contractor.
Documents Required for Qualification:
One month of paystubs, 2 months of bank statements, 2 years of tax returns
For More Information Contact:
Marc Zitelman
Mortgage Consultant/HOC Certified
Wells Fargo Home Mortgage
Office: (301)945-4312
Cell: (301)509-7300
EMail: marc.zitelman@wellsfargo.com
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Christine Sherrod, Realtor
Weichert, Realtors
7821 Tuckerman Lane
Potomac, MD 20854
Cell: (301)908-8747
Office: (301)718-4100 x126
EMail: csherrod@mris.com
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