Maryland Mortgage Program
(all Maryland Counties)
The Maryland Mortgage Program (MMP) is the Maryland state bond program for first time Maryland home buyers.
MMP offers several different loan program options including INTEREST FREE-ZERO PAYMENT second mortgages that can be used for down payment and closing costs. MMP offers Conventional, FHA, VA & Rural Housing Loans – All offered loan programs are 30 year fixed rate mortgages.
Minimum down payment requirements for each loan program: Conventional – 3% down FHA 3.5% down VA – 0% down USDA – 0% down
Down payment assistance available through the following programs, which can be applied to cover down payment & or closing costs for each loan program:
1st Time Advantage – 3% second mortgage
1st Time Advantage 4% DPA - includes 4% second mortgage ***NEW***
Can be applied to down payment and closing costs
1st Time Advantage 5000
1st Time Advantage 5% DPA - includes 5% second mortgage ***NEW***
Can be applied to down payment and closing costs.
House Keys 4 Employees
Smart Keys 4 Employees
Montgomery Homeownership V
Flex Programs (as of 2022)
Borrower is not required to be a first time home buyer, but buyer cannot currently own real estate.
Flex loans/grant are a % of the 1st mortgage
No down payment assistance
Comes with $5,000 down payment assistance loan
Comes with 3% down payment assistance loan
Come with 3% grant (no second mortgage)
Comes with 4% grant (no second mortgage)
Additional MMP Program Highlights:
Montgomery County HOC
(Montgomery County, Maryland only)
The Montgomery County HOC program is offered by the Montgomery County Housing Opportunities Commission in partnership with eligible participating lenders.
This loan program is specifically designed to offer down payment assistance to those purchasing their first home in Montgomery County, Maryland.
Gaithersburg, Maryland - Homebuyer Assistance Loan Program
The Gaithersburg Homebuyer Assistance Loan Program (GHALP) provides closing cost and down payment assistance to eligible first-time homebuyers who purchase within the City of Gaithersburg.
An applicant must have lived or worked in the City of Gaithersburg for at least one year prior to date of application. This does not apply to Priority Populations: K-12 public and private school employees, police officers, fire safety employees or to veterans. An applicant in one of those priority categories can receive assistance without being a City resident or employed within the City limits.
Down payment and closing cost assistance funds come in the form of a 0% deferred second mortgage. Assistance funds range from $12,000 to $25,000 depending on property location. Standard zone assistance limit up to $12,000 and Opportunity zone limits up to $25,000. Assistance loans cannot exceed 10% of the purchase price of the home.
The lookup too HERE can be used to search which zone the home falls within.
House hold income limits apply and home buyer education is required.
GHALP WEBSITE for more info
Anne Arundel County Mortgage Assistance Program (MAP)
The Mortgage Assistance Program (MAP) provides deferred loans up to $40,000 for Anne Arundel County, Maryland first time home buyers. **As of 4/13/22**
These funds can be applied towards down payment and closing costs for eligible applicants.
Counseling is 4 sessions and normally takes 4 -6 weeks to complete.
For more information about the ACDS Mortgage Assistance Program, visit the official website HERE
Prince Georges County Transfer Taxes
If you’re a first time home buyer and you work as a Law Enforcement or a school teach in Prince Georges County, Maryland, you may be eligible to have your county transfer taxes waived when you purchase a home.
Prince Georges County School Teachers – Apply to have your county transfer taxes waived
Prince Georges County Law Enforcement –Apply to have your county transfer taxes waived