Maryland Mortgage Grant Assist gives eligible homebuyers a grant that can be used for down payment and closing costs. Grant funds do not need to be repaid.
Homebuyers receive 4% of the value of the first mortgage as a non-repayable grant which can be used towards closing costs and down payment assistance.
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.
$2,500.00 for borrowers with income not exceeding 50% of Area Median Income (AMI)
$1,500.00 for borrowers above 50% and not exceeding 80% of the AMI (see chart).
To learn whether Maryland Mortgage Grant Assist is the right home loan option for you, we recommend you talk to one of our state-approved mortgage lenders.