County Executive Isiah Leggett and County Council President Mike Knapp today announced Montgomery County’s participation in Maryland’s House Keys 4 Employees (HK4E) program that provides the opportunity for eligible County employees to receive additional funds towards the purchase of a home in Montgomery County.

“This program will further two of the goals that are closest to my heart,” said Leggett, “providing affordable housing opportunities in our communities and enabling our County workforce to be more effective and efficient by living closer to work.”

“I am pleased to see that we have finally implemented the House Keys 4 Employees program. As a responsible employer, especially during these tough economic times, we need to do as much as possible to help our employees become homeowners, right here where they work,” said Knapp. “This is one step in the right direction, but we still have a long road ahead of us in order to solve the affordable housing crisis that we have here in Montgomery County, not just for our employees, but for all of our residents. I encourage all eligible employees to take advantage of this program and county employers to become participants in this program so that their employees can also take advantage of this program.”

Through the HK4E program, a County employee who receives a down payment and/or closing cost assistance loan through the County’s Closing Cost Assistance Loan program may be eligible for a matching contribution of up to $5,000. The match is an interest-free deferred loan that is repaid at the time of payoff, refinance or upon the sale or transfer of the home. The County’s current Closing Cost Assistance Loan program is administered by the Housing Opportunities Commission (HOC) and provides a fully amortizing loan up to $10,000 for down payment and/or closing costs to eligible first-time homebuyers in Montgomery County.

For more information on the Home Keys 4 Employees program, go to www.MMProgram.com or call 1-800-638-7781.

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Media Contact: Mary Anderson, 240-777-6534
Program Details: 240-777-3600