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The Maryland Pathway to Homeownership program

Closing Costs Down Payment Assistance

Type Of Program

Down Payment & Closing Costs

Program distribution

Program Originator

Garrett County

Program URL

www.marylandhomeownership.com or dhcd.maryland.gov

Amount

$0.00

Contact

https://mmp.maryland.gov/Pages/Contact-CDA.aspx

Location

Nationwide

Description

The Maryland Pathway to Homeownership program gives eligible homebuyers in Garrett County incredible financial incentives that put homeownership within reach. Available through the Maryland Mortgage Program, this Garrett County initiative gives you more buying power and makes it easier for your family to establish your family in the community.

MMP 1st Time Advantage

Offers eligible first-time homebuyers the lowest 30-year fixed interest rate available from the program for a home loan. (Mortgage credit certificates may not be layered with 1st Time Advantage loans.)

Flex Loans

30-year, fixed-rate home loan products accompanied by additional funds for down payment and closing costs. The assistance is available in the form of no-interest, deferred loan or an outright grant (doesn't get repaid).

Partner Match

Available only with Maryland Mortgage Premier loans. Funds available through the Partner Match Program are provided in the form of a no-interest, deferred loan and may be used for down payment and closing costs.

Maryland SmartBuy

For homebuyers with eligible student debt. The program offers special financing and closing cost assistance, including student loan payoff valued up to 15% of the property's purchase price or the maximum second loan amount, whichever is lower.

Must Earn Counseling Certificate

Yes

Eligibility Limitations

Someone who has not owned residential property for three years or more is considered a “First-Time Homebuyer.” First-Time Homebuyers who meet household income limits (see next section) can use the Maryland Mortgage Program to purchase a home anywhere in Maryland. The First-Time Homebuyer requirement does not apply for homebuyers purchasing in Targeted Areas, veterans using their exemption for the first time, or borrowers using Flex loan products (without mortgage credit certificates). Borrowers should talk to their lender for more information. This definition applies to the Maryland Mortgage Program, and is not the same definition used for recording tax purposes.

Program Provider's Contact Name

singlefamilyhousing.dhcd@maryland.gov

Program Provider's Address

7800 Harkins Road, Lanham, MD 20706

Program Provider's Phone

3014297852

Program Provider's Email