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With Millennial Home Loans quick online loan application, determining if you qualify for a Frederick County HAP Loan and for how much, has never been easier.
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Frederick County Maryland - Down Payment Assistance

Up to $12,000 in down payment and closing cost help

Frederick County HAP Loan Program Guidelines

Borrower Eligibility

  • Applicants must currently live or work in Frederick County
  • Total gross income at or below 70% of the Washington MSA median income limit established by the U.S. Department of Housing and Urban Development based on household size. See below:
Household SizeHomebuyer Assistance Program $12,000 Loan 50% AMI* Maximum Household IncomeHomebuyer Assistance Program $10,000 Loan 50% AMI* Maximum Household Income
2$60,300 $76,250
3$67,850 $85,800
4$75,350 $95,300
5$81,400 $102,950
6$87,450 $110,550
7$93,450 $118,200
* Note: Frederick County Area Median Income (AMI) is the HUD Washington Metropolitan Statistical Area (MSA) median income.
  • First time homebuyer’s and previous homeowners, provided no homeownership within the last three years
  • Must qualify for a 30-year fixed rate mortgage
  • Borrower(s) must complete a first-time homebuyer education from a HUD approved Housing Counseling Agency. For example: Frederick Community Action Agency. Phone number (301) 600-1506

Additional Requirements

  • Must obtain a home inspection
  • A one-year home warranty must be purchased at the settlement table
  • Settlement must be conducted by an Attorney with an office in Frederick County

Down Payment Requirements

  • Minimum $500 required from borrower’s own funds, regardless of the loan program

Eligible Properties

  • Existing homes
  • New Construction
  • Includes: single-family one-unit residence, townhomes, detached, condominiums, modular, and manufacture homes

Maximum Mortgage Amount

  • As dictated by the FHA, USDA, or VA loan program guidelines

Minimum Credit Score

  • Millennial Home Loans minimum credit scores guidelines, as dictated by our investors is as follows:
    • FHA: 580
    • USDA: 620
    • VA: 620

Multiple Property Ownership

  • Not permitted

Occupancy Type

  • Primary residence only
  • No co-signers allowed

Repayment Requirements and Affordability Period

  • Provide the property isn’t sold, refinanced, transferred, or converted to an investment property there is no repayment required

Receive loan approval from an approved lender

To determine your eligibility for a mortgage loan, complete a loan application using our secure encrypted online application
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