First-Timer Primer: Maryland’s Home Buyer Assistance Programs

Maryland Mortgage Program (MMP): This umbrella program is basically a portal to all of the state-offered incentives for homebuyers. It primarily offers homebuyers low, fixed interest rates, and then offers additional incentives to Maryland Mortgage Program (MMP) buyers. Associated programs like House Keys 4 Employees and CPIP offer funds to help out with down payments and closing costs.

Healthy Neighborhoods Loan Program: This program is aimed at increasing the home values of property in undervalued neighborhoods in Baltimore. Eligible home buyers on certain blocks can receive a rehab grant of up to $10,000 and can borrow up to 110% of the post-rehab value. 

Local programs: Homebuyers in various Maryland cities may qualify for community-specific incentives. Hagerstown, for example, offers different incentive programs for buyers, like a 2.5% commission to buyer's agents when an income-eligible purchaser buys a house renovated by the city. Another program aimed at revitalizing the town’s city center gives homebuyers a loan of up to $7,500 loan for a down payment or home repairs associated with buying a vacant home; it’s forgiven after five years of residence.

Howard County also offers a program to help low- and middle-income buyers get into a home.