Purchasing a home is the largest financial transaction most people will ever make. The Housing Opportunities Commission of Montgomery County (HOC) Single Family Mortgage Purchase Program (MPP) helps first-time home buyers in Montgomery County achieve their dream of homeownership.

The MPP includes home loans that are available as either Government (FHA) ​or Conventional insured loans through FANNIE MAE – HFA Preferred and FREDDIE MAC HFA Advantage.

HOC offers downpayment and closing cost assistance to eligible MPP participants.

Eligibility

To be able to apply for a home loan through the Mortgage Purchase Program, homebuyers need to meet certain eligibility criteria.​​​​​

To confirm your eligibility as a homebuyer through the Mortgage Purchase Program, please talk to one of our approved participating lenders (not to HOC). ​​​​​There is no waiting list to participate in the MPP.

Being eligible for the Mortgage Purchase Program does not automatically mean that a home buyer will be approved for a home loan. Listed below are some of the requirements of the MPP.

  • Each adult occupant of the property must be a first-time home buyer.
  • A first-time home buyer is defined as someone who has not had any ownership interest in his/her primary residence anywhere during the last three years.
  • HOC does not provide homes to purchase; buyers must locate their own home to purchase.
  • MPP mortgages are applicable to Montgomery County properties only. See Eligible Property/MPDU for more information.
  • Household income and sales price of the property cannot exceed HOC’s maximum income and sales price limits.
  • Each borrower must have a credit score no lower than 640. See Free Credit Report.
  • At least one borrower in the household must provide a certificate of completion of a first-time homebuyer education class.

 Other Information

  • Borrowers do not have to be current residents of Montgomery County.
  • Borrowers do not have to be working in Montgomery County to use the MPP(exceptions may apply).
  • Borrowers do not have to be a U.S. citizen. Permanent residents and work permit holders are acceptable. It will be necessary to document status. HOC will not extend financing to borrowers with Diplomatic Immunity.

Mortgage Purchase Program FAQ

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