- Downpayment & Closing Cost Assistance
- Statewide
Summary
The Maryland First-Time Homebuyer Assistance Program, also known as the Maryland Mortgage Program, provides home loans and down payment assistance to first-time homebuyers in the state of Maryland. The program has two main loans: the 1st Time Advantage loans for first-time homebuyers and Flex loans for first-time or repeat homebuyers. The program also offers a down payment assistance program called Flex 6000, which is a $6,000 no-interest loan with no monthly payments. To be eligible for the program, the applicant must be a first-time homebuyer or someone who has not owned residential property for three years or more and must meet household income limits. Applicants can apply for the Maryland Mortgage Program through one of more than 100 approved mortgage lenders, who will help customize a home loan package and collect, review, and submit all relevant documents during the loan application process.
Eligibility Requirements
- The applicant(s) must be a first-time homebuyer, defined as someone who has not owned a home in the past three years.
- The applicant(s) must be a legal resident of the United States and plan to purchase a home in Maryland.
- The applicant’s household income must be at or below the income limits specified by the program, which vary by county and household size.
- The applicant’s purchase price limit must be at or below the limit specified by the program, which also varies by county.
- The applicant(s) must be creditworthy and able to obtain financing from a participating lender.
- The applicant(s) must complete a homebuyer education course approved by the DHCD prior to closing on the home.
- The applicant(s) must also comply with all program requirements and guidelines, which may include submission of a complete application, payment of any required application fees, and submission of all required documentation.
- It's important to note that meeting the above requirements does not guarantee acceptance into the program, as funding is limited and subject to availability.
Contact Information
Maryland Department of Housing and Community Development
Phone: 301-429-7751
Email: mmp@mdhousing.org