City of Frederick Community Partners Incentive Program (CPIP)

City of Frederick Community Partners Incentive Program (CPIP) is a deferred second loan for homebuyers in Frederick, Maryland, administered by Frederick Community Action Agency (FCAA), City of Frederick Housing and Human Services. The Community Partners Incentive Program (CPIP) is the City of Frederick's local partner program under the Maryland DHCD CPIP. Income-eligible first-time homebuyers buying within the City of Frederick can receive up to $5,000 - a $2,500 0% deferred loan from the City matched by $2,500 from Maryland DHCD. Both loans are repayable on payoff, refinance, sale, or transfer. Buyers must qualify for a CDA/MMP first mortgage and complete FCAA homebuyer education. Up to $5,000 combined assistance. $2,500 City + $2,500 State match. 0% deferred loans. Must buy within the City of Frederick. Funding comes from City of Frederick local match ($2,500) plus Maryland DHCD ($2,500).

City of Frederick Community Partners Incentive Program (CPIP) offers between $2,500 and $5,000 in assistance. Award tiers: Local City match up to $2,500, matched by up to $2,500 from Maryland DHCD for a $5,000 total. The program can be combined with Maryland Mortgage Program (CDA) first mortgage (required). Amounts are the program's published maximums, not an offer — Frederick Community Action Agency (FCAA), City of Frederick Housing and Human Services determines any individual award.

City of Frederick Community Partners Incentive Program (CPIP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Repayable at payoff or refinance, or upon sale or transfer of the property. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Frederick Community Partners Incentive Program (CPIP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Must meet MMP/CDA first-time homebuyer requirements. A homebuyer education course is required, through Frederick Community Action Agency (FCAA), a HUD-approved Housing Counseling Agency. Residency requirement: Home being purchased must be located within the City of Frederick. Home must be in the City of Frederick; must qualify for a CDA/MMP mortgage; FCAA homebuyer education required; settlement within 120 days of approval notice; City loan funds may be subject to applicable taxes.

City of Frederick Community Partners Incentive Program (CPIP) limits household income to $196,680. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Frederick Community Partners Incentive Program (CPIP) caps the purchase price at $806,500.

City of Frederick Community Partners Incentive Program (CPIP) serves homebuyers purchasing in Frederick, Maryland. The program targets specific areas: City of Frederick Census Tracts 7501 and 7502 are designated target areas.

Applications for City of Frederick Community Partners Incentive Program (CPIP) go through Frederick Community Action Agency (FCAA), City of Frederick Housing and Human Services, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served; annual funding set through the city budget process; FCAA processes complete applications. 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.