Targeted Areas Assistance Program
- Homeownership Opportunity
- Statewide
Summary
The Targeted Areas Assistance Program is a part of the Maryland Mortgage Program that offers assistance to eligible homebuyers looking to purchase a property in certain geographic zones known as Targeted Areas. These zones have fewer restrictions for homebuyers, and income limits are slightly higher for those who are purchasing a property in a Targeted Area. Additionally, being a first-time homebuyer is not required in these areas. The Maryland Mortgage Program Mapper is an online tool that can be used to determine whether a property is located within one of these zones.
Eligibility Requirements
- The applicant(s) must be a first-time homebuyer or have not owned a home in the last three years.
- The applicant(s) household income must fall within the income limits set by the program. These income limits vary depending on the county and the size of the household.
- The property must be located in a targeted area designated by the state government.
- The applicant(s) must complete a homebuyer education course approved by the Maryland Department of Housing and Community Development.
- The applicant(s) must contribute at least $1,000 towards the purchase of the home.
- The applicant(s) must obtain a mortgage from a participating lender.
- It's important to note that other eligibility criteria may apply depending on the specific program guidelines in each county. It's recommended that The applicant(s) contact their county housing authority or the Maryland Department of Housing and Community Development for more information on the TAAP program in their area.
Contact Information
Maryland Mortgage Program
7800 Harkins Road
Lanham, MD 20706
Phone: 1-800-638-7781