What is the Maryland Mortgage Program?
The Maryland Mortgage Program (MMP) provides 30-year fixed-rate home loans to eligible homebuyers purchasing in Maryland. Loan terms are competitive with other home loan products on the market, but what makes MMP unique is the range of associated financial incentives and other assistance that, for many homebuyers, means the difference between being able to purchase and continuing to rent.
Down Payment and Closing Cost Assistance
Down payment and closing cost assistance is money that you can use to meet the requirements for securing a home loan, and which makes the purchase a of a home more affordable. Funds available for down payment and closing costs may be provided in the form of a grant or as a deferred, no-interest loan.
Are you eligible for the Maryland Mortgage Program?
- You may either be a first-time homebuyer or a repeat homebuyer
- Purchasing a primary residence
- Meet flexible income limits
- 640 credit score
There are may be additional requirements depending on your unique lending needs. To properly determine if a Maryland Mortgage Program loan is right for you, talk to one of our loan officers. They will walk you through the entire process.