Maryland Mortgage Program (MMP) Home Buyer Assistance
The Maryland Mortgage Program (MMP), is a long-running state-funded program that provides home loans and down payment assistance to Maryland residents. The core of the program is assistance in removing some of the obstacles to home purchase caused by required Down Payments.
The Maryland Mortgage Program provides an easy 0% deferred Down Payment Assistance loan of up to $8,500 plus other available incentives. There are additional specialty loan offerings also under the MMP mortgage program. You must earn under a certain household income. Get the current limits now
Want help with first time home buying in Maryland? These Free Workshops available weekly will help you succeed in your goals! We also meet by phone or by private appointment.
What’s a 0% Deferred Down Payment Assistance Loan? Your MMP Down Payment loan of up to $8,500 has easy, homebuyer-friendly payback terms and conditions. First, there’s no interest on the money you borrow for the Down Payment (0%!). The loan is also ‘deferred,’ meaning you only ever pay back the loan after your initial full 30 year mortgage is paid off. The loan is also due for repayment if you refinance the main mortgage, sell the home or otherwise vacate the property.