Program Search

Bowie Mortgage Assistance
City of Bowie
www.cityofbowie.org/grants

Program Overview

Bowie Mortgage Assistance is a program offering up to $2,000 in closing costs when purchasing a primary residence within the incorporated limits of the City of Bowie. City of Bowie

Property Eligibility Requirements

Properties must be located within the incorporated limits of the City of Bowie. The sales price cannot exceed $ 429620. Allowable property types: Single-family, townhouse, condominium

Benefit Details

Purchaser must complete a HUD-certified homebuyer education program within one year of applying for the Bowie Mortgage Assistance programs. $1,000 from the City of Bowie which can be matched by $1,000 from the State of Maryland's Community Partners Incentive Program (CPIP). If the borrower wants the CPIP match, he/she must obtain a mortgage loan from the Maryland Mortgage Program (MMP). Benefit: If the borrower lives in the house for 5 years, the $1,000 from the City of Bowie becomes a grant and does not have to be repaid. Loan Term: 5 yrs. years Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: $1,000 from the CPIP program is a 0% deferred loan, payable when the house is sold or transferred.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.