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Up to $10,000 Homebuyer Assistance Program (HAP)!

Frederick County Home Buyers can receive up to $10,000 in Down Payment and Closing Cost Assistance

With Millennial Home Loans quick online loan application, determining if you qualify for a Frederick County HAP Loan and for how much, has never been easier.

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Interest rates change on a daily basis. To receive a quick quote on current interest rates Click Here to receive an update interest rate quote.
The Frederick County Homebuyer Assistance Program or HAP is creating homeownership opportunities throughout Frederick County Maryland, with down payment assistance up to $10,000, for eligible first time Home Buyers purchasing a home in Frederick County. Home buyer must currently either live or work in Frederick County. Minimum contribution from the home buyer is only $500.

The Frederick County Homebuyer Assistance Program (HAP) offers the following benefits:

  • Down payment and closing cost assistance loan up to $10,000
  • 0% interest rate and deferred repayment on the down payment assistance amount
  • Minimum investment by the home buyer of $500
  • Only must be paid back when you sell, refinance, or convert the property to an investment property
  • Can be used in conjunction with a FHA, VA, or conventional loan
  • Available for all property types, including existing homes and new construction
  • Easy and Simple Process. Lenders submits all paperwork to Frederick County; the Home Buyer only needs to take a first-time buyer's class

HOW MUCH
DOWN
PAYMENT
ASSISTANCE
WILL I
QUALIFY FOR?

Household SizeHomebuyer Assistance Program $10,000 Loan 50% AMI* Maximum Household Income Homebuyer Assistance Program $8,000 Loan 80% AMI* Maximum Household Income
1 $41,050 $54,250
2 $46,900 $62,000
3 $52,750 $69,750
4 $58,600 $77,450
5 $63,300 $83,650
6 $68,000 $89,850
7 $72,700 $96,050
8 $77,400 $102,250
* Note: Frederick County Area Median Income (AMI) is the HUD Washington Metropolitan Statistical Area (MSA) median income.

How to start the Frederick County Homebuyer Assistance Program (HAP):

  • Apply for your first trust mortgage loan. To obtain your preliminary approval for the first trust mortgage loan call (410) 552-5912 or Click Here to apply online
  • Note, approval of your first trust mortgage loan does not guarantee approval of your loan application for the HAP Loan
  • Attend an 8-hour housing counseling course provided by a HUD Certified Housing Counseling Agency, such as Frederick Community Action Agency (301) 600-1506
  • Enter into a Purchase Contract, with a minimum settlement date of 60 days from contract ratification
  • Obtain a home inspection completed by a licensed inspector
  • Lender to order a home appraisal report
  • First trust lender approves the loan, subject to the approval of the HAP Loan
  • HAP Loan submission is made, with a minimum 21 business days remaining on the sales agreement, in order for the submission to be accepted by the HAP Loan Underwriter
  • Purchase a one year home warranty, to be paid for at settlement
  • If the house was built prior to 1978 obtain lead inspection of the property
  • HAP Loan is approved, settlement date is scheduled, and the loan closes