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

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 

  • 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

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.

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