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 up to 95% LTV in a first lien and up to 25% (with a maximum of $45,000) in a second lien to assist with down payment and closing costs. The combined LTV may not exceed 105%. 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 6/24/2022
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
CDA Certificate of Disability