Property Information

Making the choice to apply for a Maryland Mortgage Program loan is a smart decision, but there are a few things you need to keep in mind as you find your next home.

Location, Location, Location …

You’ve heard it before – nothing matters in real estate like LOCATION! Where you purchase a home will be critical, and will affect your life, and the lives of your family, for many years to come. Ask yourself how close you need to be to employment, shopping, transportation, how important are local schools and public facilities, how close you want to be to family and friends, etc.

There are a few more things about location that need to be considered when using a Maryland Mortgage Program loan to purchase your home. Certain borrowers may only be able to use a Maryland Mortgage Program loan to purchase or build a property in certain geographic areas, depending on things like:

  • whether you’ve previously owned a home;
  • whether you’re purchasing an existing home or looking to build a new one.

The location of the property may also make a difference to the maximum price of the house that can be purchased using a Maryland Mortgage Program loan, the maximum amount that can be borrowed, and in some cases, whether your income levels make you eligible to get a Maryland Mortgage Program loan.

Your Maryland Mortgage Program Lender can help you determine how this will impact you. 

We’ve put together some helpful information below to help you understand how location matters to you.

Where Can I Buy?

  Prior Homeownership
  I HAVE NOT owned a home in the past three years:​
You are a “FIRST-TIME HOMEBUYER”
I HAVE owned a home in the past three years:
You are a “MOVE-UP HOMEBUYER”
I want to purchase an existing home, which is at least one year old. You can purchase a property anywhere in Maryland. You must be purchasing a property in a TARGETED AREA.
I want to build a new home, or purchase one that is less than one year old. Your home will need to be located in a PRIORITY FUNDING AREA. Your home will need to be located in both a TARGETED AREA and a PRIORITY FUNDING AREA.

How Much Can I Borrow?

  My Homebuying Budget (Approx.)
  Less than $250,000  More than $250,000

Location Restrictions

Property price and borrowing caps are not affected by property location Borrowing and property price caps may vary based on property location (Talk to your Maryland Mortgage Program Lender​).

Loan Amount

The Maximum Maryland Mortgage Program Loan Amount is $417,000 or less. Your Maryland Mortgage Program Lender will help you determine exactly how much you can borrow based on your income, credit score and other factors.

Use the Maryland Mortgage Program Mapper, an online tool that helps determine whether a property is located within one of the following geographic zones:

Click the zone names above to learn more about how they affect eligibility for the Maryland Mortgage Program.​​​