The Home Stretch -Down Payment Assistance Program

The City of Takoma Park’s Down Payment Assistance Program, called The Home Stretch, provides financial assistance to eligible individuals and families seeking to achieve homeownership.Eligibility Requirements Applicant must be a “first-time homebuyer.”  For the purposes of this Program, a first-time homebuyer is defined as one who has not owned property in the last five (5) years. Applicant’s income must not exceed 80% of the Area Median Income (AMI) for Montgomery County, as published by the State of Maryland and the U.S. Department of Housing and Urban Development.  The median income for a family of four in Montgomery County as of April 2017 is $110,300.   Income limits for specific household sizes are provided in the chart below. Applicant must successfully complete a homebuyer education course approved by the City of Takoma Park prior to receiving assistance. The home, whether a single family attached or detached home or a condominium, must be located in the City of Takoma Park. The home must successfully pass a certified home inspection.