Maryland Mortgage Program - 1st Time Advantage
Funding status: Active
How much assistance
Up to $6,000 or 3%-5% of the first mortgage amount (Deferred Loan)
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
How to Apply for Maryland Mortgage Program - 1st Time Advantage
Step 1: Contact an MMP-approved lender to get pre-qualified. The lender will help you apply for both the first mortgage and down payment assistance.
Notes
The 1st Time Advantage 6000 product is eligible for Partner Match funds up to $2,500 in additional DPA.