Maryland Downpayment Assistance Programs
Down-payment Assistant Programs
amounts available up to $10,000 on first come, first served basis.
Available in all states
First Time home buyers
Income limits based on 80% of HUD median income
no repayment of monies if occupying the property for at least five years. Minimum homebuyer contribution is required. All household income sources are evaluated, even if other income earner is not on loan. Non-occupant co-signers are allowed. Permitted to be used with the 203k program
Maryland
MMP - The Maryland Mortgage Program
Assistance in the form of loans or grants.
Income limits based on household size
All borrowers must complete Homeownership counseling and must provide completion certificate prior to final approval. Online course permitted. Minimum credit score and debt ratio limits apply. No non-occupant cosigners are permitted. No renovation loans (i.e. 203k or Homestyle) are permitted
Must be at least 18 years of age and have a valid social security number. Note that U.S. citizenship is not required to be eligible.
First Time Homebuyer or purchase in a Targeted Area: has not owned residential property for three years or more
The First-Time Homebuyer requirement does not apply for homebuyers purchasing in Targeted Areas, veterans using their exemption for the first time, or borrowers using Flex loan products (without mortgage credit certificates). Borrowers should talk to their lender for more information.
Targeted Areas
If you’re purchasing in Baltimore City, or in Allegany, Caroline, Dorchester, Garrett, Kent, or Somerset County, then all properties are within a Targeted Area.
If you’re purchasing in Calvert, Carroll, Cecil, Charles, Howard, Queen Anne’s, St. Mary’s, Talbot, or Worcester County, there are no properties within a Targeted Area.
For all other counties in Maryland, there are certain designated areas that are Targeted Areas, and you can determine a property’s status by using the MMP Mapper.
Household Income Limits
Household Income limits in Maryland range from $92,500 up to $154,420, depending on property location and household size. Download the full income eligibility table for all counties in Maryland.
If you're ready to take advantage of this special program:
Talk to a Lender - Your lender can help you confirm your eligibility for the Greenbelt Home Advantage Loan and will make sure you meet all the requirements, such as attending the right Homebuyer Education Class. - Link to a list of Lenders who work with MMP.
Here are some lenders I work with that are approved by the MMP Maryland Mortgage Program:
Robin McCauley - Caliber Home Loans - Mortgage Consultant - NMLS# 476413 - Office: 301-660-3292 - robin.mccauley@caliberhomeloans.com
Albert AJ Nunally - New American Funding - Branch Manager - NMLS# 300602 - Office: 443-883-8226 - Albert.Nunnally@nafinc.com
Sharee Awwal - Main Street Home Loans - Home Loan Consultant - NMLS# 2080611 - Phone: 240-436-2956 - sawwal@mainstreethl.com
Gregory Lewis - Fairway Mortgage - Direct Lender - NMLS# 1935075 - Cell - 410-805-1520 - greg.lewis@fairwaymc.com
Van Papadopoulos - DK Mortgage - Direct Lender - NMLS #181912 - Office: 571-489-0582 - Cell: 301-956-9760 - van@dkmortgage.com
Check Your Eligibility to see whether you can apply for a Maryland Mortgage Program loan. Note that being eligible to apply does not guarantee approval, and lenders will take into account things like your income, credit history and employment situation when considering your application.
Complete a Homebuyer Education Class - Completing a Homebuyer Education prepares you to make the right decisions when purchasing your home. Homebuyer Education classes are available throughout Maryland, and are provided by a range of Community and Non-Profit organizations as well as local government housing agencies.
Offers eligible first-time homebuyers the lowest 30-year fixed interest rate available from the program for a home loan. (Mortgage credit certificates may not be layered with 1st Time Advantage loans.)
30-year, fixed-rate home loan products accompanied by additional funds for down payment and closing costs. The assistance is available in the form of no-interest, deferred loan.
Offers eligible first-time homebuyers the lowest 30-year fixed interest rate available from the program for a home loan. (Mortgage credit certificates may not be layered with 1st Time Advantage loans.)
30-year, fixed-rate home loan products accompanied by additional funds for down payment and closing costs. The assistance is available in the form of no-interest, deferred loan.
Flex Direct - No down payment assistance (DPA) available, but offers our most competitive interest rates available to repeat homebuyers. External sources of DPA may be used.
Flex 5000 - Comes with a $5,000 loan for down payment and closing costs. This second lien has a zero percent interest rate, and no payments are due for the life of the first mortgage. As soon as the first mortgage ends (repayment, refinance, transfer, sale, etc.), the second lien is due and payable. The 5000 line is eligible for Partner Match funds, if applicable.
Flex 3% Loan - Comes with a DPA loan equal to 3% of the first mortgage in a zero percent deferred second lien.
Available only with 1st Time Advantage 6000 or Flex 6000 loans. Funds available through the Partner Match Program are provided in the form of a no-interest, deferred loan and may be used for down payment and closing costs. Talk to your loan officer for more information!
Maryland SmartBuy (for homebuyers with eligible student debt)
helps qualifying homebuyers pay off student debt during the purchase of their home.
Financing available up to 10% of home purchase price for borrower to pay off student debt (2nd mortgage) that is a 5-year forgivable loan.
Debt must be paid off at the time of home purchase
Homebuyers must meet eligibility requirements for MMP
Existing student debt minimum of $1,000 and maximum of $30,000
Eligibility
To qualify for the Maryland SmartBuy 3.0 program, homebuyers must have an existing student debt with a minimum balance of $1,000. Maryland SmartBuy 3.0 financing provides up to 15% of the home purchase price for the borrower to pay off their outstanding student debt with a maximum payoff amount of $50,000.
The full student debt for at least one of the borrowers must be paid off at the time of the home purchase, and homebuyers must meet all eligibility requirements for the Maryland Mortgage program.
Many lenders offer this problem, like:
First Home Mortgage
Requirements: May be eligible for $5,000 (MMP regular down payment assistance), First mortgage maximum LTV of 95%, Maximum CLTV is 120%, Minimum borrower contribution of 5%, Minimum credit score of 720, County-specific homebuyer education required
HomeAbility (designed to assist home buyers with disabilities)
HomeAbility is a special product designed to assist Maryland homebuyers with disabilities to finance their home purchase. This is a Conventional Loan product and provides up to 95% LTV in a first lien and up to 25% (with a maximum of $45,000) in a second lien to assist with down payment and closing costs. The combined LTV may not exceed 105%. The interest rate for the first lien is posted on the Interest Rates page; the second lien has a rate of 0% and payment is deferred for the life of the first lien, but becomes payable upon sale, refinance, or transfer of the home.
To be eligible for HomeAbility:
One of the borrowers has disabilities OR one of the borrowers is a guardian for, resides with, and is the principal caregiver for an immediate family member who is disabled (regardless of age).
Borrower(s) individual income is less than or equal to the Area Media Income Limits shown at this link.
SELP Various counties
$10,000 - $40,000 on first come, first served basis.
Participating counties
First time home buyer; income limits apply
Must take counseling class from designated counseling agencies and obtain certificate before writing a contract of sale. Each county provides specific eligibility requirements including but not limited to income limits, debt ratio limits, homebuyer minimum contribution requirements. Generally, no cosigners allowed.
Health Neighborhoods - Purchase/Rehab Loan
49 health neighborhoods identified
for new home buyers who will make improvements to the property in conjunction with the purchase
No private mortgage insurance required for the payment.
Permanent interest rate will be FAnnie Mae Conventional 30 eyar fixed rate minus 1%, but in no event less than 4%
Borrow as much as 110% of the after-rehab appraised value (after contributing 3% of the purchase price from their own funds)
Free services of an architect are available to help buyers plan imporvemnts and to review contractors' proposals
May be elgible for matching rehab grant (include limits apply)
For proerties located on Healthy Neighborhoods target blocks. Foreclosed or vacant houses can be located anywhere within a Health Neighborhood bounday.
Borrowers must include visibale exterior improvements int heir rehabilitation plans
Properties can be 1-4 units.
Eligibility: Borrower must intend to occupy the property. Housing expenses should not exceed 30% of the buyer's income and total debt should not exceed 40% of the buyer's income. Borrower must have a minimum 620 credit score and no outstanding derogatory credit. Borrower must contribute 3% of the sales price and renovation costs as their cash for the transaction
For more information
Rahn Barnes - Loan Pools Director - 410-332-0387 ex. 1005, rbarnes@healthyneighborhoods.org, www.healthyneighborhoods.org
Prince George's County
Many programs require you to do homeownership counseling Click this link for a list of approved Homeownership Counseling Agencies in PG County.
PGCPAP Purchase Assistance Program - for First-Time Home buyers.
$15,000 zero interest, deferred payment loan towards home ownership. Loan must be paid back if the hold is sold, transferred, or ceases to be the primary residence of the buyer at any time.
Up to $10,000 zero interest, deferred payment loan towards home ownership. Loan must be paid back if the hold is sold, transferred, or ceases to be the primary residence of the buyer at any time.
(Investors or current owners of residential property are excluded from participation in this program).
Incomes limit - 80% of area median
No repayment of monies if occupying the property for 10 years. Minimum homebuyer contribution is required. All household incomes sources are evaluated, even if not on the loan. 8-hour in-person counseling is required from HUD certified agency. HQS inspection required.
Baltimore City
Link to more info - For these programs you must do homeownership counseling within 1 year before writing an offer on a home. Click this link for a list of approved Homeownership Counseling Agencies.
First Time Homebuyers Incentive Program -
$10,000 for first-time homebuyers with a household income at or below 80% of area median income. Currently, this is $55,950 for a household of one, $63,950 for two, or $79,900 for four. For additional information about the First-Time Homebuyers Incentive Program, call Brenda Winston at 443-984-2264, or email brenda.winston@baltimorecity.gov.
Live Near Your Work
Your employer has to offer this program. The City matches employers' contributions between $1,000 and $2,500, for total incentives of $2,000-$5,000+, depending on the employer. Call Monyea Briggs at 410-396-4209, or email monyea.briggs@baltimorecity.gov.
Vacants to Value Booster
$10,000 incentive for properties that were subject to a City-issued Vacant Building Notice for at least one year prior to (a) rehabilitation of the property by a developer, or (b) sale of the property to a homebuyer who intends to renovate the property using an acquisition/rehabilitation loan. Call Michael Guye at 410-396-4160, or email michael.guye@baltimorecity.gov.
Must buy a home that is on City vacancy list
Baltimore City Employee Homeownership Program -
$5,000 awarded by lottery to people who attend a Live Baltimore Trolley Tour and meet other conditions. Call Mia Conyer at 410-396-1319, or email mia.conyer@baltimorecity.gov.
Community Development Block Grant (CDBG)
$5,000 as available
Baltimore city
Income limits apply
Grant available based on certain geographic areas in Baltimore City. Home quality inspection must be performed by designated inspection company and all repairs must be completed before closing. Other restrictions.
Montgomery County
Montgomery Homeownership Program VI
up to $25,000 in down payment assistance
Greenbelt Home Advantage
Eligibility:
Take advantage of homeownership with the Greenbelt Home Advantage. The Maryland Department of Housing and Community Development, in partnership with the City of Greenbelt, gives current renters in zip code 20770 who are eligible first-time homebuyers purchasing in Greenbelt (zip code 20770) a grant of $15,000 for down payment assistance and closing cost assistance with a Maryland Mortgage home loan.
HOMEOWNERSHIP ASSISTANCE PROGRAM: MARYLAND
Need help buying a home? You may qualify for one of these programs.
Statewide and Regional Programs
Maryland Department of Housing and Community Development - homebuyer programs, including down-payment and closing cost assistance
Habitat for Humanity - through volunteer labor, builds and rehabilitates houses for families in need
U.S. Department of Agriculture Rural Housing - homebuyer programs in rural communities
Programs by City/Town
Programs by County
More From HUD
Links