Montgomery County mortgage announced today by the Community Development Administration. The funds are on a first come - first serve basis.  And they will go lightning fast! As a result of the very successful Phase I and II of the Montgomery Home Ownership Program.  The Community Development Administration in collaboration with Montgomery County is pleased to announce Phase III is open to accept reservations.  The Montgomery Home Ownership Program is designed to assist eligible home buyers who purchase a home in Montgomery County. Combining a Maryland Mortgage Program (MMP) first mortgage loan with a generous down payment assistance (DPA) second loan. Highlights of the program are as follows: *  Montgomery Home Ownership Program second lien will be a zero percent deferred down payment loan *  Maximum down payment loan will be 40% of total household income up to a maximum of $25,000.00 *  Down payment funds may be used for down payment and/or closing costs *  … [Read more...]