How It Works

How the Maryland Mortgage Program Works

The Maryland Mortgage Program (MMP) exists to help Maryland residents overcome down payment obstacles when buying their first home or condo in various Maryland counties. Many residents are eligible to qualify for first time home buyer down payment assistance.

The main program offered is an up to $8,500 Down Payment loan that is deferred at a 0% interest rate. It’s interest-free and you pay it back when you sell the home in the future. There’s also mortgage interest rate incentives built-in. Other programs “inside” of MMP offer other specific incentives tied to things like Student Loan Debt, working for certain local companies or government entities, and county-specific programs like the Pathway to Purchase in Prince George’s.

The best way to quickly tell whether you can apply for the Maryland Mortgage Program (MMP) is to look at your household income. You also must be at least 18 years old, have a valid social security number and some credit history with a fair to decent score. Get current income limits

If you household income falls within the range shown for “May Be Eligible,” then other considerations come into play. If you are in the overall eligibility range noted, then you may be able to use MMP loans only in certain counties or parts of counties within Maryland.

Here’s what you will need in order to use the Maryland Mortgage Program:

  • You must have a Real Estate Agent to help you search for a home & negotiate the transaction.
  • Your agent must understand how to use the Maryland Mortgage Program Meet an Agent
  • You must earn UNDER the income limits for your household size. Get current limits
  • You must have a decent to fair Credit Score
  • Complete a basic home buyer education course

Our Role in the Maryland Mortgage Program & how we help you:

  • Our firm is a private DC/MD/VA real estate brokerage with offices in DC and Baltimore. Our agents live and work all over Maryland, and can help you anywhere.
  • It costs you no cash up front to use our Agents & expertise; if you find a home and qualify, we are paid a commission on the transaction just like any other real estate agent.
  • Our agents are fully trained in Maryland Mortgage Program rules, qualifications,  etc. Plus, if you do not initially qualify for the Maryland Mortgage Program, we can still potentially help you. There are other privately offered financing programs and assistance that help make homebuying easy.