What Is CDA?

Posted by: najirashid on Monday, February 11th, 2008

I have received emails from prospective buyers asking me what is CDA? CDA stands for the Community Development Administration. CDA offers three standard downpayment and closing cost assistance products for any borrower who is eligible for a Maryland Mortgage Program loan. Borrowers can choose to receive a closing cost assistance grant from either the MMP+ 2% or MMP+ 3% programs. Also, borrowers who are purchasing a house with a purchase price of $200,000 or less may choose to receive a zero-percent deferred loan through the Downpayment and Settlement Expense Loan Program (DSELP). for more information on CDA products go to www.morehouse4less.com.

Topics: First-Time Home Buyers, Grant Programs

 

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