Montgomery County First Time Homebuyers Program

How it works

The Montgomery County First Time Homebuyers Program is established and administered by the county commissioners and the Office of Housing and Community Development. It is designed to help low-, moderate-, and median-income households purchase a home in Montgomery County.

The county says applicants must be income and loan eligible before entering into an agreement of sale or placing a deposit on a property. Qualified households receive grant assistance, and the county attends closing with the county documents and check.

What the money covers

Eligible participants may receive assistance with:

• Down payment
• Closing costs

The program funds come from the County’s Affordable Trust Fund in coordination with the Recorder of Deeds Office.

Amounts and matching

• Assistance is based on the household’s financial need, the selling price of the property, liquid assets, closing costs, mortgage amount, and other fees paid in the acquisition of the property.
• The grant amount is up to 10% of the estimated affordable sales price.
• The maximum grant is $10,000.
• The interest rate is 0%.
• Participants must contribute at least 3% of the sales price toward the down payment.
• Applicants must use their own liquid assets before Homebuyer Funds are used.
• Assistance is not available if the applicant has 10% or more of the sales price to put toward the purchase.
• There is a $25 non-refundable application fee.

How to apply

1. Complete and submit the First-Time Homebuyers (FTHB) Program application.
2. Within 2 weeks, the program refers approved applicants to a housing counseling session.
3. Complete the counseling session and receive approval documents and counseling certification.
4. Notify the mortgage lender and realtor of grant approval and provide related forms.
5. Have the realtor email the Agreement of Sale to the program for approval.
6. Submit a formal mortgage application and schedule a home inspection.
7. The inspector completes the Housing Quality Standards form and submits it to the program; repairs trigger a re-inspection if needed.
8. Go to closing.

The county provides the application and brochure in multiple languages, and hard copies can be requested by calling 610-278-3540.

Timing and deadlines

The page does not provide a closing date. Funds are available to qualified applicants on a first-come, first-served basis. Applicants must complete the counseling program before executing any contract of sale for the purchase of real estate.