Bowie First Mortgage Assistance Program

Bowie First Mortgage Assistance Program is a forgivable loan for homebuyers in Bowie, Maryland, administered by City of Bowie, Office of Grant Development & Administration. The Bowie First Mortgage Assistance Program provides closing-cost assistance to first-time homebuyers who are teachers, persons with disabilities, City of Bowie government employees, or police officers purchasing a home within the city limits of Bowie. The City's $2,000 grant is matched by Maryland DHCD's Community Partners Incentive Program for a total of $4,000. The grant becomes permanent after a five-year term; if the home is sold during that term the grant must be repaid in full. Buyers must contribute at least $1,000 of their own funds and complete HUD-certified homebuyer education within one year of applying. $2,000 City grant matched by $2,000 state CPIP for $4,000 total. Closing-cost assistance at purchase. Becomes permanent grant after 5 years. May be combined with other DPA/closing-cost grants. Funding comes from City of Bowie grant ($2,000) matched by the Maryland DHCD Community Partners Incentive Program ($2,000), total $4,000.

Bowie First Mortgage Assistance Program offers up to $4,000 in assistance. Homebuyer contribution: Purchasers must have a minimum of $1,000 of their own funds (earnest money, application/appraisal/inspection fees). The program can be combined with Standard down-payment/closing-cost grants and Maryland DHCD Community Development Administration grants. Amounts are the program's published maximums, not an offer — City of Bowie, Office of Grant Development & Administration determines any individual award.

Bowie First Mortgage Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Structured as a grant; if the home is sold during the five-year grant term, the owner must repay the grant in full from settlement. After the five-year term the grant becomes permanent. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Bowie First Mortgage Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through HUD-certified housing counseling agencies (UCAP, Centro de Apoyo Familiar, Housing Initiative Partnership, Homefree-USA). Residency requirement: Purchaser must live in the home as their primary residence during the term of the grant; no temporary subleases. Eligibility restricted to first-time homebuyers who are teachers, persons with disabilities, City of Bowie government employees, or police officers buying within Bowie city limits. Home and termite inspections required. Must apply through a Maryland Mortgage Program approved lender. HUD-certified homebuyer education within one year of applying. No cash back at settlement.

Bowie First Mortgage Assistance Program names educators, law enforcement officers, and homebuyers with disabilities among the groups it serves. The program is also limited to employees of First-time homebuyers who are teachers, persons with disabilities, City of Bowie government employees, or police officers. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Bowie First Mortgage Assistance Program serves homebuyers purchasing in Bowie, Maryland.

Applications for Bowie First Mortgage Assistance Program go through City of Bowie, Office of Grant Development & Administration, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.