Down Payment Assistance Programs

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Down Payment Assistance

“The best way of double your money is put your money in front of mirror." ~Anonymous

*Norcom does not control the pricing, or the note rates offered. The Norcom 100 note rate is set daily, this makes the pricing vary more on the points daily then on the actual rate.


Regardless of income, the Norcom 100 Program has options to fit your needs!

With the Norcom 100 Program, borrowers can receive an FHA first mortgage on a home and a forgivable or repayable second mortgage of 3.5% of sales price or appraised value, whichever is less. The second mortgage can be used for a down payment and the terms are based on the borrower’s HUD’s Area Median Income (AMI) requirements and qualifying income. This program is not just for first time buyers and homebuyer education is not required.

  • Option 1 (Forgivable)

    1. Borrower earns 115% AMI or less
    2. Borrower is eligible for a forgivable loan
    3. Loan is forgivable after 3 years with timely payments on the first mortgage
    4. Purchase of a primary residence 1-2 units
    5. Conforming and high balance loan amounts
    6. Minimum credit score of 620

  • Option 2 (Repayable)

    1.Borrower earns more than 115% AMI 
    2. Borrower is eligible for a repayable loan
    3. Choice of 0% for 10 years or 5% for 30 years
    4. Purchase of a primary residence 1-2 units
    5. Conforming and high balance loan amounts
    6. Minimum credit score of 620

DPA Advantage

No repayment or second lien required!

DPA Advantage provides a wide variety of eligible borrowers with down payment assistance in the form of a grant equal to 2% or 3.5% of the purchase price on eligible FHA home purchases.

  • Highlights!

    1. Down payment assistance is in the form of a grant, equal to either 2% or 3.5% of the purchase price
    2. No repayment required
    3. No need for a second lien on the property
    4. Can be used with the FHA 203(b) program or many FHA renovation programs
    5. Seller concessions up to 6% can be applied to all borrower paid closing costs
    6. Minimum qualifying credit score: 620
    7. A simple one-step process with no need for you or the borrower to engage with a third party

  • Eligibility (any one of the following)

    1. First-time home buyers 

    2. Total borrower's income is equal to or less than 140% of median area income 

    3. Borrowers who are current, retired, volunteer, non-paid, or plan to become: 

    • First-responders (police officer, firefighter, public safety officer, paramedic, or emergency medical technician (EMT), including volunteers, or similar), 
    • Educators, 
    • Medical personnel (nurse, doctor, phlebotomist, health ambassador, or hospital, American Red Cross worker, or similar), 
    • Civil servant in a federal, state, or local municipality, 
    • Military personnel , or

    4. Eligible properties located in an underserved census tract

    5. If none of the above apply: At minimum, the income and credit must meet FHA total score card or manual underwriting requirement. 

  • State and County Programs

    We're proud to participate in several different state and county housing programs.  Here's a quick list of who we're approved for.  More will be coming!  

    • Maryland Mortgage Program including Smartbuy 2.0
    • Prince George's County's Pathway To Purchase
    • Charles County SELP
    • Arundel Community Development Services' Mortgage Assistance Program



If you’d like more information on Down Payment Assistance Programs, fill out the contact form below.  If you’re ready to apply and get preapproved, click “Get Started”!

Attention Real Estate Professionals!

Download the Acela Mortgage Team's Down Payment Assistance Program (DPA) here! This flyer is a great handout for your clients!  If you would like a co-branded flyer, please reach out directly to Adam.  Best wishes!



Adam Backes
NMLS# 653829
DC, DE, FL, MD, NC, PA, SC and VA
Norcom Mortgage
NMLS #71655


Adam Backes - Acela Mortgage Team

(410) 610-4965
2139 Espey Court
Suite 1
Crofton, MD 21114

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