Gaithersburg Assists First Time Homebuyers

The City of Gaithersburg offers up to $20,000 in closing cost and down payment assistance to eligible first-time homebuyers who purchase a home within the incorporated limits of Gaithersburg.  Using both Community Development Block Grant and local City funds, homebuyers receive the funds at settlement in the form of a zero-percent deferred loan.  The completion of a homebuyer class from a HUD-approved housing counseling agency is a requirement of the program.

Gaithersburg is partnering with HIP Services to offer an eight-hour homebuyer seminar at HIP’s Gaithersburg office, located at 620 E. Diamond Avenue, Suite L.   The first seminar is scheduled for Saturday, Oct. 19 from 9 a.m. to 5 p.m.  The $50 fee includes lunch.

A Certified Housing Counselor will lead the class, and each participant will be provided with the NeighborWorks training manual.  The seminar will also include guest speakers from the real estate industry, including mortgage lenders, realtors, certified home inspectors and title companies.

Those individuals who sign up for the class will also be entitled to individual housing counseling at HIP’s offices.  The pre-purchase counselor provides confidential one-on-one consultations that include budgeting, repairing credit, and addressing specific concerns about the home buying process.

Seating for the class is limited and RSVPs are required.  Please call 301.355.6140, 301.916.5946, or register online at www.hiphomes.org.

For more information on Gaithersburg’s housing programs please email Louise Kauffmann at lkauffmann@gaithersburgmd.gov.

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