HomeAbility is a special product designed to assist Maryland homebuyers with disabilities to finance their home purchase. This is a Conventional Loan product and provides an 80% LTV first lien and up to 25% in a second lien to assist with down payment and closing costs. No mortgage insurance is required. The interest rate for the first lien is posted on the
Interest Rates page; the second lien has a rate of 0% and payment is deferred for the life of the first lien, but becomes payable upon sale, refinance, or transfer of the home.
To be eligible for HomeAbility:
- One of the borrowers has disabilities OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age).
- Disability is documented by submitting:
- a CDA "Certificate of Disability" completed by a health, mental health, or disability professional; and/or
- a proof of income from Social Security Administration (i.e. SSI or SSDI), VA or former employer: the proof is a copy of the borrower's disability policy, award letter or benefits statement from the benefits payer (insurance company, employer or other qualified disinterested party), per FNMA's guidelines; or
- a proof of application for disability benefits evaluation and a copy of the Social Security Administration office’s decision on the application.
- It is entirely CDA’s decision as to the sufficiency of the documentation.
- Borrower(s) individual income is less than or equal to the Area Media Income Limits shown below.
HomeAbility – Maximum Income/Affordability Limits for Borrowers
(Subject to change when Fannie Mae and Freddie Mac update their income limits, usually once a year. Updates are announced by directive.)
Limits effective 7/1/2021
Allegany
| $48,640
|
Anne Arundel
| $84,080 |
Baltimore
| $84,080
|
Baltimore City
| $84,080
|
Calvert
| $102,240
|
Caroline
| $57,600
|
Carroll
| $84,080
|
Cecil
| $75,600
|
Charles
| $102,240
|
Dorchester
| $57,600
|
Frederick
| $102,240
|
Garrett
| $57,600
|
Harford
| $84,080
|
Howard
| $84,080
|
Kent
| $62,800
|
Montgomery
| $102,240
|
Prince George's
| $102,240
|
Queen Anne's
| $84,080
|
Somerset
| $59,280
|
St. Mary's
| $93,200
|
Talbot
| $69,920
|
Washington
| $61,040
|
Wicomico
| $59,280
|
| Worcester | $59,280
|
Unless otherwise stated, all requirements and guidelines of the Maryland Mortgage Program apply. Please refer to overlays and underwriting guidelines for US BANK and GSEs (FNMA & FHLMC) for additional requirements.
HomeAbility can only be offered by lenders who have achieved gold- or silver-tier status.
Lender list for that status
For more information:
HomeAbility Fact Sheet
Diree
CDA Certificate of Disability
