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Buying your first home feels like a dream, but the upfront cost is a real hurdle. Discover how Maryland's programs can give you the keys to your future.
The Biggest Hurdle? Upfront Costs.
The down payment and closing costs are often the main barrier for first-time buyers. These programs are designed to solve that exact problem.
Typical split of initial home buying expenses.
Maryland's Helping Hand: The Maryland Mortgage Program (MMP)
The MMP is your central resource, offering a suite of powerful tools through approved lenders to make homeownership affordable. Let's see how they can help you.
Down Payment Assistance
MMP can provide a loan of up to 5% of your home's price to cover your down payment and closing costs. On a $350,000 home, that's $17,500 in your pocket on day one!
Mortgage Credit Certificate (MCC)
The HomeCredit program gives you a special tax credit of up to $2,000 every single year. This chart shows how those savings can add up significantly over a decade.
Comparing Your Options
Each program offers unique benefits. The "1st Time Advantage" loan focuses on a great interest rate, while others provide direct financial help. This shows how they stack up.
Do You Qualify?
While rules vary, here are the common requirements for MMP programs.
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First-Time Home Buyer
You haven't owned a home in the last three years.
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Meet Income Limits
Based on your household size and the county you're buying in.
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Minimum Credit Score
Most lenders require a score of at least 640.
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Homebuyer Education
A simple, required course about the buying process.
It Must Be Your Primary Home
These programs are designed to help you buy a home to live in, not for investment or rental properties.
Your 3-Step Path to a New Home
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