This article is our second in a comprehensive series on low down payment options for purchasing a home.
Maryland First-Time Homebuyer Down Payment & Closing Costs Assistance
For most people, the biggest obstacle that keeps them from purchasing a home is saving enough for a down payment and coming up with enough funds for closing costs.
If you have not owned a home residence within the past 3-years, then the Maryland Mortgage Program (MMP) - formerly known as CDA-DSELP (Down Payment Settlement Expense Loan Program) may just be the solution that you need.
MMP now has multiple different programs to assist eligible home buyers by offering interest rate assistance or funding a portion of their down payment and/or their closing costs.
Here are 4 programs that have gotten a lot of traction with buyers:
These programs, and other federal and local programs, are exciting because they address major issues affecting First Time Home Buyers in Maryland who are interested purchasing their first home but are discouraged because of the lack of funds for down payment and/or closing costs.
Contact us for more information on how to buy a home using any of these MMP programs such as interest rate assistance, grant funds, tax credit, and student loan payoffs.