Throughout Washington, D.C., Maryland, Virginia, and West Virginia many different programs are designed to make the dream of homeownership more of a reality. These programs can be in the form of down payment assistance, a credit for first-time buyers, financial incentives to reinvest in certain areas of the community, discounts on property taxes or specific programs for our teachers and first responders. Many jurisdictions have programs that are designed specifically for city or state employees so that they can live in the same communities where they work. We encourage you to reach out to a McEnearney professional or a qualified mortgage lender to see if one of these programs can help you in your efforts to become a homeowner.
Please note that the availability and qualifications for each of these programs are subject to change.
DC Open Doors helps make homeownership in DC affordable with loans for down payments, closing costs, and below-market mortgage rates. Open to first-time and repeat buyers, the program works through participating lenders who manage the loan process from application to settlement.
The HPAP program offers interest-free loans and closing cost assistance for buying single-family homes, condos, or co-ops in DC. Loan amounts depend on income, household size, and assets. HPAP loans are subordinate to private first trust mortgages and do not allow seller-backed financing.
The EAHP provides eligible DC government employees with a 0% interest deferred loan and matching grant for down payment and closing costs to buy their first home, condo, or co-op in the District.
The Inclusionary Zoning (IZ) Program ensures affordable homes are included in most new or renovated residential developments. IZ offers rental apartments and condos or townhomes for sale.
The NEAHP grant offers $3,000–$26,500 for down payment and closing costs to eligible DC government employees under a collective bargaining agreement. Administered by DHCD, OLRCB, and GWUL, the grant is forgiven after 10 years if terms are met. The home must remain the participant's primary residence.
HomeReady offers low down payments and flexible financing for creditworthy low-income buyers, including a $2,500 credit for very low-income borrowers to help with down payment and closing costs. Lenders benefit from reduced hedging costs and enhanced pricing options. See LL-2024-01 for details.
The Freddie Mac Home Possible® mortgage offers a 3% down payment and flexible options for very low- to low-income borrowers. Non-occupant co-borrowers and borrowers with other financed properties are allowed, all with competitive pricing and the simplicity of a conventional mortgage.
The MCC program helps lower-income families afford homeownership by offering a tax credit of up to $2,000 per year for a portion of mortgage interest paid. Eligible first-time buyers must meet income and purchase price limits and use the home as their primary residence.
Bank of America’s Community Homeownership Commitment® offers down payment and closing cost assistance combined with low down payment mortgages, making homeownership more accessible for modest-income borrowers.
Make homeownership possible with a grant of up to $7,500 in select areas and a low down payment.
Get up to $7,500 in lender credit to help cover closing costs if you meet eligibility requirements. This assistance applies to any loan type, including FHA loans with lower closing costs.
MMP home loans include Government-backed options (FHA, VA, USDA) and Conventional loans with possible lower monthly payments despite higher interest rates. Options include 1st Time Advantage, Flex products, and specialty loans with enhancements like grants or tax credits. Consult an approved lender to find the best fit.
Maryland SmartBuy 3.0 helps homebuyers purchase a home while paying off student debt. Buyers with at least $1,000 in student loans can receive up to 15% of the home's price (max $20,000) to pay off debt. Full debt payoff is required at purchase. Available only through approved Maryland SmartBuy lenders.
Teacher Next Door serves all Maryland communities, guiding homebuyers through the process with personalized support and advanced technology. It offers grants, down payment assistance, and special programs for teachers, healthcare workers, first responders, law enforcement, military, and government employees.
1st Time Advantage loans offer first-time Maryland homebuyers the lowest 30-year fixed rates available through the Maryland Mortgage Program. These loans cannot be combined with the Maryland HomeCredit Program.
The Maryland Teacher Home Buying Program offers tailored home loans and refinancing options for educators. FHA loans require just 3.5% down and provide refinancing flexibility. Options include VA loans, jumbo loans, ARM loans, and more. Contact us to explore your home buying or refinancing possibilities!
Howard County's DHCD offers deferred loans for settlement and down payment costs, due upon sale, refinance, or default. Loans feature low interest rates, 2 points below the primary mortgage rate. Requests are processed by approved lenders.
The Home Stretch Down Payment Assistance Program in Takoma Park is currently paused. When active, it provides $10,000 in assistance for eligible homebuyers on a first-come, first-served basis. Stay updated for reopening announcements.
The Gaithersburg Homebuyer Assistance Loan Program (GHALP) offers closing cost and down payment assistance for eligible first-time buyers purchasing within Gaithersburg city limits. Applications are open for FY25 (July 2024–June 2025). Stay tuned for updates.
The First-Time Homebuyer Assistance Program offers up to $25,000 for down payment and closing costs to eligible buyers. As of November 1, 2024, the Pathway to Purchase program has $429,434.24 in available funds.
Explore Baltimore homebuying incentives, including the Employee Homeownership Program, at Live Baltimore’s online workshop. The program helps full-time city employees reduce upfront costs when purchasing a home in Baltimore City. Learn more and register today!
The Buying Into Baltimore program offers down payment and closing cost assistance via lottery to 20 eligible homebuyers who attend Live Baltimore’s Trolley Tour. Participants must complete event requirements and secure a home contract within 12 business days to qualify. Visit the Trolley Tour page for details.
HomeReady offers low down payments and flexible financing for creditworthy low-income buyers, including a $2,500 credit for very low-income borrowers to help with down payment and closing costs. Lenders benefit from reduced hedging costs and enhanced pricing options. See LL-2024-01 for details.
The Freddie Mac Home Possible® mortgage offers a 3% down payment and flexible options for very low- to low-income borrowers. Non-occupant co-borrowers and borrowers with other financed properties are allowed, all with competitive pricing and the simplicity of a conventional mortgage.
The MCC program helps lower-income families afford homeownership by offering a tax credit of up to $2,000 per year for a portion of mortgage interest paid. Eligible first-time buyers must meet income and purchase price limits and use the home as their primary residence.
Bank of America’s Community Homeownership Commitment® offers down payment and closing cost assistance combined with low down payment mortgages, making homeownership more accessible for modest-income borrowers.
Make homeownership possible with a grant of up to $7,500 in select areas and a low down payment.
Get up to $7,500 in lender credit to help cover closing costs if you meet eligibility requirements. This assistance applies to any loan type, including FHA loans with lower closing costs.
The Virginia Housing Community Heroes Grant helps eligible teachers, first responders, healthcare workers, military members, and other community heroes with a $10,000 non-repayable grant for down payment and closing costs when using a Virginia Housing loan.
Virginia Housing offers loans to make homeownership affordable. First-time and repeat buyers can explore options to match their needs. Most loans require a free homebuying course to help you prepare for homeownership. Ask a lender about the best option for you!
The Down Payment Assistance Grant helps first-time buyers overcome the down payment hurdle, reducing the time needed to save for a home.
The HOMEownership Down Payment and Closing Cost Assistance program offers grants to first-time buyers earning up to 80% of AMI. Buyers may receive 10–15% of the home's price and up to $2,500 for closing costs, with a required affordability period to maintain the home as their primary residence.
Virginia Housing loans must meet sales price limits. Combined first and second mortgages cannot exceed these limits, including financed guaranty fees or mortgage insurance. Check with a Virginia Housing-approved lender for income, sales price, and loan limit details. Conventional loans follow conforming loan limits.
SPARC (Sponsoring Partnerships & Revitalizing Communities) provides reduced-rate funding from Virginia Housing to local governments, nonprofits, and housing partners to address special housing needs.
Arlington's MIPAP offers first-time buyers a deferred, no-interest loan of up to 25% of the home's purchase price. It covers part of the down payment and all closing costs as a second mortgage. No monthly payments are required; repayment, including shared appreciation, occurs at sale or refinance.
The First-Time Homebuyers (FTHB) Program, established in 1978, offers affordable homes through the Affordable Dwelling Unit (ADU) Program. Homes are sold at below-market prices, with owners responsible for maintenance, improvements, and compliance with HOA or condo fees and rules.
The Workforce Dwelling Unit (WDU) Homebuyer Program helps buyers earning 70–120% of AMI purchase below-market homes near jobs and transit. WDU townhomes and condos are in market-rate developments and vary in size. Buyers handle maintenance and HOA/condo fees, while builders cover new home warranties.
The City of Alexandria's Homebuyer Resources page provides tools for affordable homeownership, including programs for reduced-rate financing, down payment and closing cost assistance, and resale-restricted affordable units. It also offers homebuyer training, eligibility details, and a list of approved lenders.
HomeReady offers low down payments and flexible financing for creditworthy low-income buyers, including a $2,500 credit for very low-income borrowers to help with down payment and closing costs. Lenders benefit from reduced hedging costs and enhanced pricing options. See LL-2024-01 for details.
The Freddie Mac Home Possible® mortgage offers a 3% down payment and flexible options for very low- to low-income borrowers. Non-occupant co-borrowers and borrowers with other financed properties are allowed, all with competitive pricing and the simplicity of a conventional mortgage.
The MCC program helps lower-income families afford homeownership by offering a tax credit of up to $2,000 per year for a portion of mortgage interest paid. Eligible first-time buyers must meet income and purchase price limits and use the home as their primary residence.
Bank of America’s Community Homeownership Commitment® offers down payment and closing cost assistance combined with low down payment mortgages, making homeownership more accessible for modest-income borrowers.
Make homeownership possible with a grant of up to $7,500 in select areas and a low down payment.
Get up to $7,500 in lender credit to help cover closing costs if you meet eligibility requirements. This assistance applies to any loan type, including FHA loans with lower closing costs.
The Homeownership Program helps make homeownership affordable in West Virginia, primarily for first-time buyers. It offers low interest rates and can be paired with the Low Down Home Loan for down payment or closing cost assistance.
The West Virginia Housing Development Fund provides affordable mortgages for home purchases and refinancing. Partnering with 40+ lenders statewide, WVHDF offers options through local banks, credit unions, and non-profits. Loans are serviced locally in Charleston. Contact a lender to explore your options.
The Low Down Home Loan helps cover down payment and closing costs, reducing out-of-pocket expenses for homebuyers. It is exclusively available with the WVHDF Homeownership Program through participating lenders.
HomeReady offers low down payments and flexible financing for creditworthy low-income buyers, including a $2,500 credit for very low-income borrowers to help with down payment and closing costs. Lenders benefit from reduced hedging costs and enhanced pricing options. See LL-2024-01 for details.
The Freddie Mac Home Possible® mortgage offers a 3% down payment and flexible options for very low- to low-income borrowers. Non-occupant co-borrowers and borrowers with other financed properties are allowed, all with competitive pricing and the simplicity of a conventional mortgage.
The MCC program helps lower-income families afford homeownership by offering a tax credit of up to $2,000 per year for a portion of mortgage interest paid. Eligible first-time buyers must meet income and purchase price limits and use the home as their primary residence.
Bank of America’s Community Homeownership Commitment® offers down payment and closing cost assistance combined with low down payment mortgages, making homeownership more accessible for modest-income borrowers.
Make homeownership possible with a grant of up to $7,500 in select areas and a low down payment.
Get up to $7,500 in lender credit to help cover closing costs if you meet eligibility requirements. This assistance applies to any loan type, including FHA loans with lower closing costs.
As a community-driven real estate firm, we are dedicated to supporting you through every step of your real estate journey. Whether you’re buying, selling, or exploring possibilities, our team is here to empower your decisions and deliver real results. Let us help you write the next chapter in your story.
