Loan Options

Down Payment Assistance

Achieve Homeownership

Many people struggle to save funds for a home down payment, but today there are several affordable options available to help buyers achieve homeownership with little to no down payment called Down Payment Assistance Programs (DPAs.)

GMM Grants

  • Helping make homeownership more affordable
  • Down payment and closing cost assistance
  • Up to $10,000 for down payment & closing costs*
    (in select market areas)

*Grant Programs are only available in select market areas. Not all applicants are eligible.

GMM Journey Home Grant

  • Helping make homeownership more affordable
  • Up to $10,000 for down payment & closing costs
  • Household income limits may apply

GMM Welcome Home Grant

  • Helping make homeownership more affordable
  • Up to $10,000 for down payment & closing costs
  • For properties located in select market areas
Maryland - Red

Maryland Mortgage Program 

  • A few different types of home loan products
  • Can only be obtained with an MMP first mortgage
  • Funds available for down payment and closing costs may be provided in the form of a grant or as a deferred, no-interest loan

George Mason Mortgage’s

GMM  Grants

Down Payment & Closing Cost Assistance Programs

Up To $10,000 or 3% of the Purchase Price

GMM Journey Home Grant

Down Payment & Closing Cost Assistance

Up To $10,000 
for Down Payment & Closing Costs

GMM Welcome Home Grant

Down Payment & Closing Cost Assistance

Up To $10,000 
for Down Payment & Closing Costs
DC - Red

DC Opens Doors 

The DC Housing Finance Agency’s DC Opens Doors1 makes homeownership in Washington, DC affordable by offering qualified buyers home purchase loans and down payment assistance. This program has income and credit guidelines established by the DC Housing Finance Agency. It is not restricted to first-time homebuyers. DC Opens Doors provides financing for both single-family homes and condos.

DC - Red

Home Purchase Assistance Program (HPAP) 

The DC Department of Housing and Community Development’s Home Purchase Assistance Program2 program provides interest-free loans and closing cost assistance to qualified applicants to purchase single family houses, condominiums, or cooperative units. The loan amount is based on a combination of factors, including income, household size, and the amount of assets that each applicant must commit toward a property’s purchase. The loan is subordinate to a private first trust mortgage.

North Carolina - Red

NC Housing Finance Agency Down Payment Assistance 

  • Provides several products that bridge the down payment gap.
  • NC residents have potential assistance for both first time and subsequent buyers.
  • The NC 1st Home Advantage program provides a fixed rate first mortgage combined with $8000 in Down Payment Assistance for first time homebuyers. May be used towards down payment and/or closing costs. Plus has no interest or payment required.
  • Option available without the first time home buyer requirement. It provides the traditional first mortgage along with DPA in the amount of 3 or 5% of the first mortgage amount. May be used towards down payment and/or closing costs.
South Carolina - Red

SC Housing Down Payment Assistance

  • For SC buyers we offer the SC Housing $6,000 DPA product.
  • When combined with an FHA or USDA loan, the $6,000 may contribute towards down payment and/or closing costs.
  • Unlike NCHFA, there is a repayment feature on this assistance.
  • Although this is traditionally a first time home buyer product, there are exceptions to this requirement.
Maryland - Red

Maryland Mortgage Program 

  • 30-year, fixed-interest rate mortgages
  • A few different types of home loan products
  • Can only be obtained with an MMP first mortgage
  • Funds available for down payment and closing costs may be provided in the form of a grant or as a deferred, no-interest loan
Virginia State - Red

Virginia Housing (Formerly VHDA) Down Payment Assistance Grant

  • VA Housing provides both down payment assistance and grants for Virginia home buyers.
  • Primarily, their programs are for first time home buyers, although there are exceptions.
George Mason Mortgage is not endorsed by, sponsored by, or affiliated with any government agency or program.

Get Started on Your Journey Home

Knowledge Base
government building framed with tulips

Virginia Housing Update

Virginia Housing offers affordable loan programs for Virginians. With the update of Income and Sales Prices in addition to an increase of Loan Limits, Virginia ...
2024 Conforming Loan Limits

FHFA Announces Conforming Loan Limits for 2024

Baseline Conforming Limit Will Increase to $766,550 FHFA Announces Conforming Loan Limits for 2024 | Federal Housing Finance Agency Washington, D.C. – The Federal Housing Finance ...

Federal Home Loan Bank (FHLB) of Atlanta provides Grants for Community Partners and First-Time Homebuyers

Opening Doors for More Homebuyers George Mason Mortgage understands that saving money for a down payment and closing costs is one of the most challenging ...
Out of This World Rent

Rent prices out of this world?

At George Mason Mortgage, we understand the challenges you may be facing in today’s housing market, and we are here to empower you with viable ...
Maryland Smartbuy Program 3.0

Achieve Your Dream Home and Tackle Student Debt with Maryland SmartBuy Program 3.0

Are you a Maryland resident dreaming of homeownership but burdened by student debt? The Maryland SmartBuy Program 3.0 is here to help you turn that ...
Gifts Grants and Affordable Seconds - Horizontal

Unlocking Opportunities with Gifts, Grants, and Affordable Seconds

GIFTS Take advantage of the generosity of your loved ones or community organizations! This allows you to receive financial assistance from eligible donors to use ...
Unlock The Home of Your Dreams

Unlock the Home of Your Dreams

Building your dream home or transforming your current property into the perfect living space requires careful planning and the right financial support. At George Mason ...

Essential Checklist for First-Time Homebuyers

Essential Checklist for First-Time Buyers: Your Path to a Successful Mortgage Journey  Buying your first home is an exciting milestone! To ensure a smooth and ...
MMP and DC OD - Feature Image-1

DC Open Doors and the Maryland Mortgage Program

DC Open Doors and Maryland Mortgage Program Purchasing a home can be a daunting experience, especially if you’re a first-time homebuyer. One way to make ...
9 Tips To Help You Prepare To Purchase - Featured Image-1 (1)

9 Tips To Help You Prepare to Purchase Your First Home

9 Tips to Help You Prepare to Purchase Your First Home Buying your first home is an exciting milestone in life, but it can also ...
Greenbelt Home Advantage

Greenbelt Home Advantage

The Maryland Mortgage Program – Greenbelt Home Advantage Are you a renter in the City of Greenbelt? We are excited to share that if you ...
Building and Financing Process

The Building and Financing Process

There are several important steps you should take to ensure a successful building and financing process.
One-Time Close Construction Loans

One-Time Close Construction Loans

One-Time Close Construction Loan Program   GMM’s One Time Close is available for New  Construction and Renovation projects. This program offers you the benefit of ...
Model white house on dollar banknote. Insurance and property inv

What Is A Mortgage Recast?

You have probably heard of refinancing your mortgage as a way to potentially lower your monthly mortgage payments. There is also another possible option called ...
Group of young adults laughing and walking down a hallway

How Do Down Payment & Closing Cost Assistance Programs Work?

Who Can Receive Down Payment Assistance? While many down payment assistance programs are often paired with loan options for first-time homebuyers, this is not always ...
man writing on inspection papers

Home Inspections

Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any money to purchase it. Paying for ...
jargon spelled out with dice blocks

10 Homebuying Terms Everyone Should Know

Here is a list of frequently used homebuying terms and their definitions. What is an adjustable-rate mortgage (ARM)? An adjustable-rate mortgage is a type of ...
women typing on her phone

What Is Commonly Negotiated When Buying A Home?

With homebuying, everything is negotiable, from repairs and closing costs to furniture and appliances. Offers and counteroffers can negotiate on a mix of these factors. ...
7 Ways to Stand Out as a Potential Homebuyer

7 Ways to Stand Out as a Potential Homebuyer

With rates near all-time lows, the housing market is buzzing with potential buyers! Low rates mean more affordable payments or more home for your money, ...
craft houses lined up on canvas background

5 Tips for Making an Offer on a Home

1. Check your emotions Buying a home can be both exciting and stressful. And, after a long home search, it’s easy to overlook some red ...
close up house's model on banking account book with calculator, coin and pencil on table for planning of home loan mortgage refinance or retention interest rates , business and financial concept

Get Your Cash Back

Paying cash for a home has benefits. Take advantage of being a cash buyer to give the seller confidence the transaction will close quickly and ...
The Lowdown on Down Payments & Mortgage Insurance

The Lowdown on Down Payments & Mortgage Insurance

Many first time home buyers believe they must put 20 percent down on a home. But that is far from the truth! In 2019, NAR ...
9 Tips for Purchasing Your First Home

9 Tips for Purchasing Your First Home

Beginning the home buying process can be a very exciting, yet nerve-wracking experience for anyone starting off. These tips will help answer some questions to ...
Blue prints, color swatch, pencil colors, sketches, plans and documents for a home renovation

Home Improvement Projects with the Best ROI

Whether you've purchased a fixer-upper or are thinking about selling your home in the near future, it's important to determine which renovations or upgrades can ...
Scroll to Top