I wanted to get this exciting news out to you. There is a big new program at CDA. It is called the 6% Maryland Opportunity Grant. They have supersized the grant program. There are some great options to help with cash to close. Here are some of the details:
Ø 6% of the base loan amount toward closing costs and down payment.
Ø This is a true grant. No Payback like the DSELP loan of $5,000
Ø Conventional 3% down CDA loan, 30 year fixed
Ø Buyer can get in with zero with seller help.
Ø First time buyer. Has not bought in the last three years
Ø Homebuyer course can be online for any county and at any time. You don’t have to take in person ahead of time.
Ø Cant use with any other grants or matching amounts from CDA
Ø 640 Score. We can go down to a 640 credit score with automated approval.
Ø Reservations for funds start 1/22. Limited amount so be ready.
How does it work:
$300,000 sales price
$291,000 loan amount
$9,000 down payment
$12,000 closing and prepaids
$17,460 GRANT ASSIST (6% of base loan)
$ 3,540 Seller help
$ 0.00 borrower gets in for zero
Call me and we can discuss further. Have a great weekend.