Maryland Mortgage Program Through CDA

 
The costs of downpayment and settlement can overwhelm first-time homebuyers and is listed as the #1 barrier to homeownership. That's why CDA has added more assistance programs for down payment and closing costs.

Community Development Administration (CDA) offers a standard down payment and closing cost assistance products for any borrower who is eligible for a Maryland Mortgage Program loan. Also, borrowers may choose to receive a zero-percent deferred loan through the down payment and Settlement Expense Loan Program (DSELP).

If you are interested in the Maryland Mortgage Program:

• Contact a loan officer to determine your preliminary eligibility.
• Attend a homebuyer education class.
• Contact your Human Resources Officer to see if your employer participates in the House Keys for Employees (HK4E) program.  If so, you may be eligible for additional down payment and closing cost assistance to match your employer’s contribution to help you purchase a home. 
• Select a real estate agent.  If you do not already have a real estate agent, consider asking your loan officer to recommend a real estate professional who has experience in the area.
• Complete the loan application by providing your loan officer and mortgage analyst with the remaining documents needed to close your loan.

For more information about CDA loans please contact us today.