Housing Opportunities Commission of Montgomery County, MD (HOC) – Mortgage Purchase Program
|LOAN TIME LINE REQUIREMENTS||
|ELIGIBLE LOAN TYPES||
|AVAILABLE DOWN PAYMENT ASSISTANCE||
|INCOME LIMIT CRITERIA||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO SCORE REQUIREMENT||
|FORMS AND DOCUMENTATION||
Current Rates* – Reservation Locks are available on business days from 10 am-8 pm EDT
w/o Purchase Assistance
with 3% Purchase Assistance
|HFA Preferred – LTV < =95%||5.000%||2/22||5.625%||2/12|
|HFA Preferred – LTV > 95%||5.125%||2/22||5.750%||2/12|
- No origination or discount points allowed
- Option 1 rate has no downpayment assistance
- Option 2 rate has 3% of the Purchase Price as downpayment assistance
- Must be reserved online
- Montgomery County Closing Cost Assistance Loan – “5 for 5” – for information contact the HOC team.
- Academy Mortgage Corp.
- Apex Home Loans, Inc.
- Caliber Funding LLC.
- Eagle Home Mortgage, LLC.
- Embrace Home Loans
- First Home Mortgage
- First Mariner Bank
- HomeBridge Financial Services, Inc.
- Homeside Financial LLC.
- Howard Bank Mortgage
- Mortgage Access Corp dba Weichert Financial Services
- New America Financial Corporation
- NVR Mortgage Finance, Inc.
- Presidential Bank Mortgage
- PrimeLending, a Plains Capital Company
- Prosperity Home Mortgage, LLC
- TowneBank Mortgage
Interested in becoming a participating lender? Contact us.
- 5/9 – New 2016 AB Program – loans to originate in new program
- 11/1 – Income & Purchase Price limits increase.
- 4/11- Notice of Rate change sent. Lenders: Lenders are approved by both US Bank and HOC. Once your Company is approved, your Company name would be listed below and given access to the Program. Everyone associated with the program must attend FLEX program training. After you attend training, you are notified and at that point you should request access (click here). Users: User Credentials (Login and Password) are processed and we will send you an email with your USERNAME and a temporary PASSWORD. After you log in for the first time, you will be prompted to change your password. All Users must have attended Training in order to be granted User Credentials.