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Spring Forward!
BY GREGORY HARE
Spring is a season of new opportunities, and there’s no better time to help your clients plant roots in a home of their own. The Maryland Mortgage Program (MMP) offers realtors the tools and resources needed to guide buyers through the challenges of homeownership, from downpayment assistance to programs tailored to overcome hurdles like student debt and rising costs.
Below are some of the most advantageous MMP partnership products:
1st Time Advantage 5% DPA Loan: This product comes with down payment and closing cost assistance equal to 5% of the first mortgage while still maintaining a competitive interest rate on the first mortgage. Borrowers must be first-time homebuyers.
FHA 203K Limited Loan: Allows for additional financing for repair/modernization as part of the home purchase.
Flex 3% DPA Loan: This product comes with a loan equal to 3% of the first mortgage. Can be a repeat or first-time homebuyer.
Fill 2025 with new homes, and new beginnings!
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Gregory Hare is the Assistant Secretary, Maryland Department of Housing and Community Development. mmp.maryland.gov, singlefamilyhousing. dhcd@maryland.gov, 1-800-756-0119
