While the Maryland Mortgage Program can be used by most Marylanders to purchase a home anywhere in Maryland, there are a few property location factors that may restrict its use, and in some cases, your household income may affect whether or not these restrictions apply.
We recommend that you talk to one of our state-approved mortgage lenders to learn how this may impact your eligibility for the Maryland Mortgage Program for any homes you may already be considering, or to help you in your search for a home.
Targeted Areas are parts of Maryland in which it is a little easier to be eligible for the Maryland Mortgage Program. Household Income limits are slightly higher if you’re purchasing a property in a Targeted Area, and you don’t need to be a First-Time Homebuyer.
Maryland’s Priority Funding Areas are existing communities and places where local governments use state investments to support future growth. The most important restriction associated with Priority Funding Areas is for that you can only use the Maryland Mortgage Program to finance the construction of a new home if it is going to be built in a Priority Funding Area.
The following areas qualify as Priority Funding Areas:
If you’re thinking about building a new construction home or purchasing a new construction property from a developer, and the above criteria don’t provide clarity on whether the location of the property falls within a Priority Funding Area, consult the MMP Mapper to look up the address.