The Maryland Mortgage Program is expanding in expectations that many BRAC individuals may use the program to buy their first home in Maryland.

The interest rates were dropped to 4.5% as well, to make the program even more attractive. These programs and rates are available to all who qualify for them, not just Maryland BRAC homebuyers.

The Maryland Mortgage Program (MMP) has multiple options for buyers — mostly first time homebuyers. Their site states:

Get Maryland Mortgage Program With CDA:

All Community Development Administration (CDA) mortgage products have low, fixed interest rates and are available with downpayment and closing cost assistance.

House Keys 4 Employees:

An employer partnership program, to help Maryland’s workforce become homeowners.

Downpayment and Closing Costs Assistance:

With Maryland Mortgage Program, homeowners can receive Downpayment and Closing Cost Assistance.

Most of these programs are for Maryland first time homebuyers, but they can allow for very little money out of pocket to get into a house. These programs require counseling and multiple qualifications, including income limitations, and in a few cases, company of employment or specific location of home to purchase.

Contact me to learn more about the Maryland Mortgage Program and how it may benefit you buying a home in Maryland.