HOME BUYING PROGRAMS

Maryland Mortgage Program

Conventional, FHA, VA, Refinance, REO, and RHS loans are available through the Maryland Mortgage Program (MMP). Loans are below market-rate, 30-year fixed, and fully amortizing. These loans may be used with downpayment and closing cost assistance programs and the residence must be your primary residence. The home buyer must also obtain a Homeownership Counceling Certificate from an approved agency.

For More Information

Contact John Watkins
410-485-8422 ext. 4208
Email
Website

Healthy Neighborhoods Purchase and Rehabilitation Loans

Homebuyers may use this loan to purchase and rehab a home or refinance a home on a block in a designated healthy neighborhood. This loan carries a fixed interest rate that is 1% to 4% below the 60-day Fannie Mae rate. Homebuyers must contribute 3% of the purchase price from their own funds and the home must be the homebuyer’s primary residence.

For More Information

Healthy Neighborhoods, Inc.
(410) 332-0387
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Website

Homeownership for Individuals with Disabilities

This program provides low-interest mortgage loans to eligible disabled homebuyers and homebuyers with a disabled children regardless of age. This loan has a 40-year mortgage term and the borrower must contribute a minimum of $500 cash. Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.

For More Information

Maryland Department of Housing and Community Development
(301) 429-7852
Email
Website

Department of Housing and Urban Development 203K Loan

FHA’s Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale.

For More Information

Department of Housing and Urban Development (HUD)
(202) 708-1112
Website

Maryland SmartBuy 2.0

Maryland SmartBuy helps homebuyers with qualifying student debt purchase a home. The program works by paying off student debt during the purchase of the home through special Maryland Mortgage Program (MMP) financing. Maryland SmartBuy involves the purchase of move-in-ready homes currently owned by, and available from, the state of Maryland.  Maryland SmartBuy 2.0 gives homebuyers an opportunity to purchase any home in Maryland that meets Maryland Mortgage Program guidelines while paying off student debt.

For More Information

Maryland Department of Housing and Community Development
800-756-0119
Website

Buy in Belair-Edison

Belair-Edison Neighborhood, Inc. (BENI) is offering an exclusive new homebuyer incentive that can be easily layered with other programs available in the city! A $2,000 down-payment grant is available for homes purchased in Belair-Edison. This incentive program is ONLY available for owner-occupant buyers in the Belair-Edison neighborhood.

For More Information

Maryland Department of Housing and Community Development
800-756-0119
Email
Website

Vacants to Value Booster (V2V)

Over 360 home buyers have benefited from $10,000 in downpayment and closing cost assistance when buying a formerly vacant, renovated house. You could be next! Home buyers can use 203K loans to build renovations into their mortgage. Many homes are already beautifully renovated by Vacants to Value developers in growing neighborhoods.

For More Information

Baltimore Housing Office of Homeownership
Michael Guye
(410) 396-4606
Website

Buying into Baltimore

Live Baltimore offers a $5000 Buying Into Baltimore incentive to use toward buying a home anywhere in Baltimore City. Every year there are two citywide events with incentives for the first 30 buyers. With B-HiP Live Baltimore will sponsor four neighborhood-focused events called City Living Starts Here with 10 incentives each.

For More Information

Baltimore City Housing
Earnestine Carter
(410) 396-3124
Website

Housing Choice Voucher Homeownership Program

The Housing Choice Voucher Homeownership Program is a federally funded, locally administered homeownership assistance program that helps families, the elderly and persons with disabilities afford to purchase decent, safe housing in the private market.  Please be advised that this is an optional program for Housing Choice Voucher (HCV) holders. Housing Choice Voucher holders are not mandated nor are they required to participate in this program.

For More Information

HABC Homeownership
(410) 396-4175
Website

Maryland Mortgage Program “You’ve Earned It”

For a limited time, the Maryland Mortgage Program is offering a 0.25% discount on the standard Maryland Mortgage Program mortgage rate and $5,000 in Down Payment Assistance to qualified home buyers that have at least $25,000 of student debt, and who are purchasing a home in one of Maryland’s Sustainable Communities.

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website

Maryland Mortgage Program Community Partners Incentive Program

If you’re using the 1st Time Advantage 5000 or the Flex 5000 loan products to purchase your home, any financial assistance you receive from one or more of these Partners is matched (up to $2,500) as additional down payment assistance. Just like the Loan Assist down payment assistance, this additional funding is available as a no-interest, deferred loan from the state, payable when the first mortgage is fully paid off. 

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website

Federal Home Loan Bank of Atlanta First Time Homebuyers

The First-time Homebuyer Product (FHP) provides up to $5,000 in matching funds for the down payments and closing costs of first-time homebuyers. The Bank has offered the FHP since 1997, making homeownership a possibility for over 21,000 families.

For More Information

Federal Home Loan Bank of Atlanta Community Investment Services
(800) 536-9650 ext 8385
Website

Federal Home Loan Bank of Atlanta Foreclosure Recovery

Provides up to $15,000 in down-payment and closing-cost funding for the purchase or purchase and rehabilitation of an existing home from the Real Estate Owned (REO) inventory of an FHLBank Atlanta member financial institution. The funding is available to first-time or non-first-time homebuyers.

For More Information

Federal Home Loan Bank of Atlanta Community Investment Services
(800) 536-9650 ext 8385
Website

CDBG Homeownership Assistance Program

For first-time home buyers with total family income at or below 80% of area median income ($44,750 individual, $63,900 family of four), $5,000 in downpayment and closing cost assistance is available.

For More Information

Baltimore City Housing
Brenda Winston
(410) 396-4606
Website

Maryland Mortgage Program Downpayment Assistance (DPA)

The Down Payment Assistance program through MMP may provide $5,000 to use towards downpayment and closing costs when using a Maryland Mortgage Program Loan.

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website

Maryland Mortgage Program Grant Assist Program

The Special Assistance Grant is designed to assist income selected homebuyers with grants for down payment assistance and closing costs when purchasing a home with a Freddie Mac Advantage conventional mortgage. The grant may be combined for use with other MMP conventional purchase loans. It may not be combined with the Maryland SmartBuy, government loans, or refinance products.

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website

Maryland Mortgage Program – Closing Cost Assistance Grant

The Special Assistance Grant is designed to assist income selected homebuyers with grants for down payment assistance and closing costs when purchasing a home with a Freddie Mac Advantage conventional mortgage.

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website

Maryland Mortgage Program – Maryland Opportunity Grant

The Maryland Opportunity Grant provides assistance to eligible homebuyers for down payment and closing costs associated with purchasing a home in Maryland using the Maryland Mortgage Program (conventional loans only).  The Maryland Department of Housing and Community Development offers an outright grant of 2% of the first loan to help with down payment and closing costs for borrowers whose income is below eligibility limits, which vary by county.

For More Information

Maryland Department of Housing and Community Development
(800) 756-0119 ext. 3
Website