LEDC Down Payment Assistance Program

LEDC Down Payment Assistance Program is a grant for homebuyers in Maryland. The LEDC Down Payment Assistance Program is administered by the Latino Economic Development Center (LEDC), a HUD-approved bilingual housing counseling agency and CDFI serving the DC metropolitan area (DC, MD, VA). The program provides non-repayable grants for down-payment and closing-cost assistance to income-qualified first-time homebuyers, with mission-driven outreach to Latino and immigrant homebuyers. Buyers must complete LEDC's homebuyer-education class and individual counseling. Down-payment / closing-cost grant of up to approximately $15,000 for income-qualified first-time homebuyers, with primary outreach to Latino and immigrant homebuyers in the DC metropolitan area (DC, MD, VA). Non-repayable grant administered through LEDC's HUD-approved housing counseling program. Funding comes from CDFI, Private, Foundation, and Federal.

LEDC Down Payment Assistance Program offers up to $10,000 in assistance. Homebuyer contribution: Per first-mortgage program. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

LEDC Down Payment Assistance Program is structured as a grant, so it is not repaid. Repayment is triggered by None - non-repayable grant. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

LEDC Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer (no ownership of residential real estate in prior 3 years). On credit, the program states: Underwriting follows the buyer's first-mortgage product. A homebuyer education course is required, through Latino Economic Development Center - HUD-approved bilingual housing counseling agency; 8-hour homebuyer-education class required. Residency requirement: Property within Maryland (or DC/VA per LEDC service area); buyer's primary residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen; LEDC actively serves immigrant homebuyers including ITIN borrowers (per partner-lender underwriting). Buyer must complete LEDC's HUD-approved 8-hour homebuyer-education class and one-on-one housing counseling. Income approximately $66,750 (1-person) to $125,800 (8-person), tracking 80% AMI for the Washington-Arlington-Alexandria HMFA. Buyer must be a first-time homebuyer. Property must be the buyer's primary residence in the DC metropolitan area (DC, MD, VA). LEDC's mission focus is the Latino and immigrant community, but the program is open to all qualifying buyers regardless of national origin.

LEDC Down Payment Assistance Program limits household income to 120% of the area median income, which varies by county and household size. Household income approximately $66,750 (1-person) to $125,800 (8-person) - 80% HUD AMI for the Washington-Arlington-Alexandria HMFA. 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.

LEDC Down Payment Assistance Program caps the purchase price as follows: No fixed dollar maximum; limits per LEDC program guidelines. Eligible property types include Single-family detached, Townhouse, Condominium, and 2-4 unit (owner-occupied). New construction is eligible. Manufactured homes are not eligible.

LEDC Down Payment Assistance Program serves homebuyers purchasing anywhere in Maryland.

Applications for LEDC Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application via LEDC; first-come, first-served subject to annual grant allocations. 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.