Interfaith Housing Alliance Purchase-Repair Homeownership Program

Interfaith Housing Alliance Purchase-Repair Homeownership Program is a first mortgage for homebuyers in Carroll|Frederick|Washington County, Maryland, administered by Interfaith Housing Alliance, Inc. (IHA). IHA's Purchase-Repair Homeownership Program provides affordable homeownership to families in USDA-RD designated rural areas of Carroll, Frederick, and Washington counties, Maryland, who would not otherwise qualify for a traditional mortgage. Features include no down payment, a below-market fixed interest rate, no PMI, and longer loan terms. IHA provides free comprehensive technical assistance from credit repair through post-purchase support. No down payment required. Below-market fixed interest rate. No private mortgage insurance. Longer loan terms to reduce monthly payments. Free IHA technical assistance. Ongoing post-purchase counseling. Funding comes from USDA Rural Development (USDA-RD).

Interfaith Housing Alliance Purchase-Repair Homeownership Program is a first mortgage and is repaid under the terms set by Interfaith Housing Alliance, Inc. (IHA). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Interfaith Housing Alliance Purchase-Repair Homeownership Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Interfaith Housing Alliance, Inc. (free counseling including credit repair, budgeting, loan prep, home repair/maintenance). Residency requirement: Property must be in a USDA-RD designated rural area in Carroll, Frederick, or Washington County, MD. Property must be in a USDA-RD designated rural area; verify at the USDA eligibility site. Delivered in partnership with USDA Rural Development. IHA now prioritizes applications where safe housing is not present or there is a high risk of housing loss. Service area per official site: Carroll, Frederick, Washington counties.

Interfaith Housing Alliance Purchase-Repair Homeownership Program sets its income limit as follows: Income limits set by USDA Rural Development by county and household size. Frederick County 1-4 person $97,800 / 5-8 person $129,100; Carroll County 1-4 person $97,750 / 5-8 person $129,050; Washington County 1-4 person $73,100 / 5-8 person $96,500. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Interfaith Housing Alliance Purchase-Repair Homeownership Program can be used for Single Family. New construction is not eligible. Manufactured homes are not eligible.

Interfaith Housing Alliance Purchase-Repair Homeownership Program serves homebuyers purchasing in Carroll|Frederick|Washington County, Maryland. The program targets specific areas: USDA Rural Development designated rural areas within Carroll, Frederick, and Washington counties in Maryland.

Applications for Interfaith Housing Alliance Purchase-Repair Homeownership Program go through Interfaith Housing Alliance, Inc. (IHA), 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.