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Maryland Mortgage Program - 1st Time Advantage

Administered by:

Maryland Department of Housing and Community Development

· State · Deferred Loan

Funding status: Active

How much assistance

Up to $6,000 or 3%-5% of the first mortgage amount

Zero-interest deferred second mortgage with no monthly payments. Balance due when the first mortgage is paid off, refinanced, or the property is sold.

Eligibility

Income limits: Varies by county and household size. Example: Baltimore City 1-2 person household approximately $136,000; 3+ person household higher limits.
First-time buyer required: Yes — Must not have owned a home in the past 3 years. Exceptions for purchases in Targeted Areas.
Credit score minimum: 640
Geographic restrictions: Must purchase a home in Maryland as primary residence.
Homebuyer education required: Yes