The Maryland Mortgage Program helps homebuyers in Maryland achieve their dream of homeownership through a range of programs that make purchasing and owning a home more affordable.
There are three types of 30-year, fixed-interest home loan programs available to eligible homebuyers. Grant Assist and Loan Assist programs offer upfront financial assistance for down payment and closing costs to help homebuyers meet home purchase requirements. Rate Assist programs provide low interest rate options that lower monthly repayments over the life of the loan.
Maryland Mortgage Program home loans are available as Conventional or Government-backed loans. A Conventional loan is any type of mortgage that is not secured by a government-sponsored entity (GSE), such as the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs (VA). Government loans are backed by the government, offering different and sometimes more flexible products for certain buyers. Depending on your financial situation, Government loans can help you obtain a mortgage when you otherwise may not have met conventional guidelines.
Your individual situation will determine which loan option fits you best. Talk to one of our state-approved mortgage lenders to learn more.
Other programs, including federal tax credits (Maryland HomeCredit) and Partner Match can be combined with the selected home loan products, subject to property and homebuyer eligibility.
Maryland SmartBuy is a special home purchase program that makes available selected state-owned properties for sale while removing eligible student debt.
Offers eligible first-time homebuyers the lowest 30-year fixed interest rate available from the program for a home loan. Down payment and closing cost assistance is not available from MMP, however borrowers may use assistance funds from external sources.
30-year, fixed-rate home loan products providing funds that can be used for down payment and closing costs in the form of a no-interest, deferred loan.
30-year, fixed-rate home loan products providing grant funding that can be used for down payment or applied to closing costs. Grants do not need to be repaid.
30-year, fixed-rate home loan products with MMP’s lowest available interest rate. Down payment and closing cost assistance are not available from MMP with these products, however some special initiatives combine Rate Assist products with third party funds.
Available with Loan Assist home loan products only. 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.
Maryland’s “mortgage credit certificate,” which provides eligible homebuyers with an annual credit that may be applied to federal income taxes. Some fees apply.
Selected move-in ready, state-owned properties available to homebuyers with eligible student debt. The program offers special financing and closing cost assistance, including student loan payoff valued up to 15% of the property's purchase price.