​​HomeAbility

HomeAbility is a special loan program through the Maryland Mortgage Program. It helps homebuyers with disabilities afford a home by providing low-interest financing and significant help with down payments.

Who Can Apply

You may qualify if one of the following applies:

• You or a co-borrower have a documented disability.
• You are the guardian and main caregiver for an immediate family member with a disability who lives with you.

Benefits

HomeAbility makes homeownership more affordable by offering:

• You can finance up to 95% of your home's price.
• You can get a second loan for up to 25% of the purchase price (up to $45,000) to help pay for your down payment and closing costs. The second loan has:
  • 0% interest.
  • No monthly payments as long as you live in the home and keep your first mortgage.
  • You only pay it back when you sell, refinance, or transfer the home.

Products

• Conventional first mortgage: A standard loan to buy a home at a fixed interest rate.
• A second loan: A 0% interest, deferred loan to help with down payment and closing costs.

Note: The total amount of both loans combined cannot be more than 105% of the home's value.

Eligibility Requirements

Must provide disability documentation. The Community Development Administration (CDA) will review these documents to ensure they meet program requirements. Please provide one of the following:

• A CDA Certificate of Disability completed by a qualified health, mental health, or disability professional.
• Proof of disability income from the Social Security Administration (SSI or SSDI), Veterans Affairs (VA), or a former employer. Acceptable proof includes:
  • Borrower's disability policy
  • Award letter
  • Benefits statement from the benefits payer (insurance company, employer or other qualified disinterested party).
• Proof that the borrower has applied for disability benefits and a copy of the Social Security Administration's decision.

Must meet income limits:

• Your combined qualifying income must be at or below 80% of the Area Median Income (AMI).
• Income limits may change when Fannie Mae and Freddie Mac update AMI limits. Updates are announced by directive.

Must meet general requirements:

• Meet standard MMP eligibility requirements​, including income limits, credit score and purchase price limits.
• Lenders must also meet underwriting requirements from:
  • U.S. Bank (Master Servicer)
  • Fannie Mae (FNMA)
  • Freddie Mac (FHLMC)

Ready to Get Started?

• Check the Interest Rates​ for the first mortgage.
• Review the HomeAbility Fact Sheet.
• Have your health provider complete the CDA Certificate of Disability.
• To learn more, talk to one of our state-approved mortgage lenders​​ who can help you get pre-qualified for an MMP loan.