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Get with the program
Community Development Administration (CDA) has flexible loans to
fit your needs. There are a variety of factors to consider when financing your
home - your budget, your monthly mortgage payment, how long you plan to live in
the house. Choose the loan that's right for you:
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30-Year Maryland Mortgage Program
Monthly Mortgage Payment
Downpayment and closing cost assistance is available with all CDA
Mortgage Products
30-Year Maryland Mortgage Program
Monthly Principal & Interest Payment
| $0 | $0 |
| $50,000 | $239 |
| $100,000 | $477 |
| $150,000 | $716 |
| $200,000 | $955 |
| $250,000 | $1,194 |
| $300,000 | $1,432 |
| $350,000 | $1,671 |
| $400,000 | $1,910 |
| $450,000 | $2,148 |
NOTES
MONTHLY MORTGAGE PAYMENT AND CURRENT CDA INTEREST RATES:
The monthly payments shown are only for the principal and interest payments on
the CDA mortgage. Each mortgage product has a different interest rate based on
the points paid upfront when obtaining the mortgage. For example, a 2-point
mortgage requires the homebuyer to pay 2% of the mortgage amount as part of
their closing costs. These funds are used to off-set the cost of making the
mortgage. All monthly payments and interest rates shown in the table are
subject to change. In addition to these amounts a mortgage will have monthly
costs for property taxes, hazard insurance, and mortgage insurance.
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AVAILABLE DOWN PAYMENT AND CLOSING COST ASSISTANCE:
The homebuyer may select either:
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a CDA Downpayment and Settlement Expense Loan (DSELP) up to $5,000 (the DSELP
loan is a 0% deferred loan, repayable upon sale of the home or refinancing of
the CDA mortgage loan).
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AVAILABLE MORTGAGE INSURANCE: The 30-year
amortizing mortgage can use FHA or VA credit enhancement products.
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