James Adamson
NMLS ID 455833
1912 Liberty Road, Bldg II, Suite 4
Eldersburg, Maryland 21784
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Peoples Home Mortgage
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First-time Homebuyer Down Payment Assistance Programs

As a potential first time home buyer, you know the sacrifices made to save sufficient money to make a down payment on a home. For some, it seems impossible to even begin to save enough cash without some form of down payment help, much less saving that money in the time necessary to take advantage of today's low mortgage rates.

James Adamson works with a wide range of Down Payment Assistance Programs (DAPS) to help qualified borrowers purchase a new home. Some down payment programs have income restrictions and/or purchase price restrictions. James and his support team can help you work through the qualifying process. James has over 20 years experience looking for opportunities to assist first time home buyers with identifying and utilizing available local or state programs.

If you meet the income requirements for your area, and if funds are available through the down payment program, then chances are, we can locate a HUD Approved assistance resource for you!

So, who is a first time home buyer?
A first time home buyer is defined as an individual, who has not had an ownership interest in a home within the last three years. If you fit this definition, you may be eligible for a home buyer grant.

Down Payment Assistance Programs (DAPS) are loan programs designed to assist first-time home buyers with the required down payment and closing costs required by the FHA loan program. Please note: most DAPs require an application AND participation in a homeownership counseling program BEFORE the purchaser signs a contract.

The two major types of down payment programs are:

  1. Programs backed by 501 (c) (3) non-profit organizations or a county, city or state that require seller help to the buyer in order for the buyer to take advantage of the program.
  2. Programs backed by county, city or state secured by a second mortgage. Some of these second mortgages require no payments initially; some programs forgive the loan after 10-20 years of living in the home. Funding is limited and based on a first-come-first-served basis.

Following is a partial list of down payment assistance programs available in the Baltimore-Washington metropolitan area:

  • MY HOME Mortgage Assistance Program - for any property in PG County - up to 5% of sales price towards down payment and/or closing costs - first time home buyer only
  • MY HOME II Mortgage Assistance Program - $20,000 assistance for properties located in designated zip codes and with income restrictions
  • BUY SUITLAND Mortgage Assistance Program - up to $40,000 down payment and/or closing costs - foreclosure and short sale properties only - first time home buyer only
  • DC HPAP/NEEHAP - down payment assistance up to $40,000 with $4,000 towards closing costs - may be used with 203K - first time homebuyer only
  • Maryland CDA (Community Development Administration) - also known as Maryland Mortgage Program - range of loan products and down payment and closing cost assistance programs
  • Officer and Teacher Next Door - Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home.
  • Neighborhood Conservation Initiative (NCI) - down payment and closing cost assistance loans to first time home buyers for properties in select zip codes
  • Other County Down Payment Assistance Program available in Anne Arundel, Howard, Montgomery, Charles, Baltimore County and Baltimore City


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