- Locations
- Aberdeen Branch
- APG Branch
- Bel Air — Amyclae Branch
- Bel Air — Home Loan Center, Main St. (No ATM)
- Bel Air — Laurel Bush Branch
- Bel Air — Main St. Branch
- Cecil College Branch
- Chesapeake City Branch
- Edgewood Branch
- Elkton Branch
- Fallston Branch
- Forest Hill Branch
- Havre de Grace Branch
- North East Branch
- Rising Sun Branch
- Riverside Branch
- Branch Appointment Requests
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Branch Access and COVID Information
All APGFCU branch lobbies are open for teller transactions. Member services by appointment. Click for details.
Down Payment and Closing Cost Assistance Programs
We get it. Rent payments are rising, student loan debt is growing, and it can be challenging to save for a down payment and closing costs. That's why APGFCU partners with the Federal Home Loan Bank (FHLB) and local housing agencies to offer down payment and closing cost assistance programs to qualified buyers.* Check out some of the programs offered:
FHLB Programs
First-Time Homebuyer
Matching funds may be available for the purchase of a primary residence by an eligible first-time homebuyer. A first-time homebuyer is defined as someone who hasn't previously owned a home or hasn't owned a home in the last three years.
The maximum assistance is $5,000. The minimum borrower contribution is $1,000 and the matching subsidy ratio is 4:1. This means that the FHLB will provide $4,000 in assistance for $1,000 contributed by the borrower. A borrower would need to contribute $1,250 in order to receive the maximum assistance of $5,000.
Community Partners
Matching funds may be available for the purchase of a primary residence by current or retired law enforcement officers, educators, firefighters, health care workers, and other first responders.
The maximum assistance is $7,500. The minimum borrower contribution is $1,000 and the matching subsidy ratio is 4:1. This means that the FHLB will provide $4,000 in assistance for $1,000 contributed by the borrower. A borrower would need to contribute $1,875 in order to receive the maximum assistance of $7,500.
Veterans Purchase Product
Funds may be available for the purchase of a primary residence by a qualifying U.S. military veteran serving in or having served in, an overseas military intervention environment.
The maximum assistance is $10,000 and there is no minimum contribution required from the borrower.
Additional Information
- FHLB assistance is considered a grant contribution, rather than a loan. While a "silent" second lien is recorded behind the first mortgage loan, no payment is made on the FHLB grant and no interest is accrued.
- Twenty percent of the assistance balance is forgiven each year and after five years, the entire balance is forgiven. If the home is sold within the first five years, the remaining prorated balance of the grant must be repaid if there is equity resulting from the sale.
- Household income must be equal to or less than 80% of HUD Median Income, adjusted for family size. Click here to visit the HUD site to access individual income limit areas.
- FHLB funds are available on a first-come, first-served basis until depleted each year. In a typical year, funding is allocated in late January and is available through the month of June.
To learn more about down payment and closing cost assistance options, call 888-LOAN-391 (888-562-6391) to receive a call from an APGFCU Mortgage Consultant.
*Down payment and closing cost assistance amount may be due upon sale, refinance, transfer, repayment of the loan, or if the senior mortgage is assumed during the term of the loan. Some programs require repayment with interest and borrowers should become fully informed prior to closing. Not all applicants will qualify. Minimum credit scores may apply. Sales price restrictions and income requirements may apply. Homebuyer education may be required. Owner-occupied properties only. Maximum loan amounts may apply.