Home Buyers and Home Owner Programs Available

 There are several programs out there for buyers, including first-time buyers, and current homeowners to find ways to keep housing costs low.
Some of the programs help with down payments and others for repairs. The programs include federal, State of Maryland and local programs that may be available to you.  Here are just a few of programs that are available to people in Maryland.  

• American Home Partners 

Program Overview

American Home Partners is a proven construction loan program that enables hard working families to get into a new home without a big down payment or perfect credit. American Home Partners will finance up to 95% for the purchase of the land and 100% of the cost of materials, labor and related items to build a new home. Most of the continental United States qualify for the program. All of Maryland is eligible for this program. 

Program Overview

Accessible Homes for Seniors is a joint project with the Maryland Department of Aging to promote accessibility-related improvements to the homes of seniors. 

Property Eligibility Requirements

This program is offered throughout Maryland by local agencies administering programs for aging.

Allowable property types: Home must be structurally sound and free of health and safety standards.

Program Overview

American Dream Downpayment Initiative is a program created by HUD to assist low-income first-time homebuyers in purchasing single-family homes by providing funds for downpayment, closing costs, and rehabilitation carried out in conjunction with the assisted home purchase. Selected urban locations in Maryland, including Baltimore City and Anne Arundel, Baltimore, Harford, Howard, Montgomery and Prince George's counties. Additionally, Maryland receives an additional allocation for the entire state. 

Property Eligibility Requirements

Properties must be located in eligible cities and urban counties. Additionally, Maryland receives an additional allocation for the entire state.

Program Overview

House Keys 4 Employees is a is a matching loan program that may be used for either downpayment or closing cost assistance. All home purchases in Maryland are eligible provided that an employer is contributing toward the purchase and that the borrower is financing with a loan through the Maryland Mortgage Program (MMP). 

Property Eligibility Requirements

Allowable property types: All eligible MMP properties within maximum price limits depending upon the jurisdiction.

Program Overview

Maryland BRAC Matching Program is a is a program that enables eligible homebuyers who are using a Maryland Mortgage Program loan to purchase a home to receive an additional $2,500 for downpayment and/or closing cost assistance. The $2,500 is available in the form of a zero percent deferred loan that is repayable at the time of sale, transfer of the home, or upon refinance of the Maryland Mortgage Program loan. The BRAC Match can be combined with other assistance that may be available through any of DHCD's standard downpayment and closing cost assistance programs. Properties must be located in Maryland. Loans may be targetd to certain areas that are more likely to be impacted by BRAC. 

Property Eligibility Requirements

The property must be located in Maryland and be eligible for the Maryland Mortgage Program. Loans may be targeted to certain areas more likely to be impacted by BRAC.

There are several other programs out there also, above are just a few of the programs.   If you have any questions about the programs or like to see if there are other programs that might fit you needs.  Please do not hesitate to contact me. 

Happy Spring to All.