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The document provides information about the Moderately Priced Dwelling Unit (MPDU) Rental Program in Gaithersburg, Maryland. It outlines eligibility criteria, including income limits and residency requirements, as well as priority status for certain applicants. The document details the application process, required documentation, and specific conditions for applicants, emphasizing the importance of submitting complete applications directly to rental properties.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the first time home buyer program in Montgomery County Maryland?

Montgomery Homeownership Program MMP first mortgage comes with a second mortgage equal to 40% of the qualifying borrower income with a maximum amount of $25,000 for down payment and closing cost assistance. Any funds not needed for down payment or closing costs will be applied to principal curtailment (no cash-out).

What is the minimum income to qualify for Medicaid in Maryland?

Income Limits Monthly Income Limit Effective January 1, 2025 Household Size Adults Children 1 $1,801 $4,202 2 $2,433 $5,677 3 $3,065 $7,1525 more rows

What is the maximum income to qualify for HUD housing?

FY 2024 Section 8 Income Limits (Effective 04/15/2024) Number of PersonsExtremely Low Income 30% of MedianLow Income 80% of Median 1 $ 29,150 $ 77,700 2 $ 33,300 $ 88,800 3 $ 37,450 $ 99,900 4 $ 41,600 $ 110,9504 more rows Apr 15, 2024

How do you qualify for the MPDU program in Montgomery County?

Households may qualify for the MPDU program if they earn between $40,000 and $68,000 annually, depending on household size and whether the household wants to rent or to own.

How much do you need to qualify for affordable housing in Montgomery County?

An MPDU is a county government-regulated unit that is required to be affordable to households earning 65% of area median income (AMI) for garden-style apartments and 70% for high-rise apartments.

How to apply for MPDU in Maryland?

Tenants interested in an MPDU rental unit must apply directly to one or more of the MPDU apartment communities. The management company at the apartment community will give you an application, verify your income and credit history, and determine eligibility or ineligibility to rent an MPDU apartment.

What are the income requirements for MPDU in Maryland?

Please contact them directly to ask if there are any vacancies. Household SizeMPDU Permissible Incomes (50%-80% of AMI)WFHU Permissible Incomes (Up to 120% of AMI) 1 $54,145 - $86,632 Up to $129,948 2 $61,880 - $99,008 Up to $148,512 3 $69,615 - $111,384 Up to $167,076 4 $77,350 $123,760 Up to $185,6401 more row

What is the minimum income for MPDU in Maryland?

The Moderately Priced Dwelling Unit (MPDU) program has both minimum and maximum income limits that apply to purchase applicants and prospective tenants. The maximum income limits are updated annually, usually in April of each year. The minimum income limit necessary for the Purchase Program is $40,000.

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