Whenever you are in need of down payment assistance in Maryland, First Home Mortgage and the MyHome Mortgage Team is here to give you all the tools and resources you need to ensure that your journey through the loan process is smooth. We are the top local lender for assistance programs. There are a wide variety of plans that you can apply for depending on many factors and I can help you choose the best one that works for you! These program are designed to lower your required funds to purchase your first home. Let's get started.
Enjoy Down Payment and Closing Cost Assistance in Maryland
- Many great programs are available for Down Payment and Closing Cost Assistance
- Free Information On Getting Qualified For Programs
- No Cost, No Obligation Consultations. Great info at no cost.
- We have the best options and funds for assistance.
- Prequalification Process Doesn't Affect Your Credit Score.
Assistance Programs For Your First Home Purchase
Buying a home for the first time can be stressful and confusing. That's why the MyHome Mortgage Team is here to help! There are several local down payment assistance programs, which can also go towards closing costs, available to Maryland residents and can get you one step closer to homeownership. Contact us today to pre-qualify and start the journey towards your dream home!
Maryland Down Payment and Closing Cost Assistance Programs
When it comes to buying a home for the first time, there are a lot of steps and processes involved. Luckily, there are a lot of down payment and closing cost assistance programs for Maryland residents to take advantage of. From statewide assistance to specific county programs to help first-time homebuyers, the MyHome Mortgage Team can help you navigate and find the best programs for your needs. Give us a call today for more information.
Statewide Down Payment Assistance Programs
While some first-time buyer programs are specific to the county or city where you are looking to buy, there are quite a few state-wide programs that prospective homebuyers can take advantage of in Maryland. Read on for more information, or contact us today!
Why Purchase a Home in Maryland?
When you think about a charming place to live, Maryland can be the place that comes to mind. This is where coastal living and city life meet in perfect harmony, making it a solid choice for anybody who’s looking for their forever home. Check out the many amazing things Maryland offers and contact First Home Mortgage to get the help you need to purchase your dream home!
Assistance Programs Available
The State of Maryland has several options for first-time and repeat homebuyers. The Maryland Mortgage Program(MMP) thru the State of Maryland can have options to lower your cash to close on your first home. These programs can connect you with below-market rates, reduce your mortgage insurance, and provide you with down payment assistance and closing cost assistance. Down payments are based on the program type, such as FHA, conventional, rural housing and VA assistance programs. Our team will walk you through all of your options to help you find the best fit. Remember, for these programs, first-time buyers are defined as anyone who has not owned a home in the last three years. Check out some of our available programs below and contact us to see what you qualify for and full details!
MMP 1st Time Advantage Direct
This program is for first-time buyers and provides below-market interest rates but with no assitance. This can help drive your payment lower. You need to have a minimum score of 640. Reduced mortgage insurance may also be available.
MMP 1st Advantage Assistance Program
This very popular assistance program for the State of Maryland can provide different levels of funds in all counties. You can get 3%, 4%, or 5% of the base loan to help cover down payment and closing costs. You can also combine this help with seller help to greatly reduce your cash needed to close.
HomeStart
This MMP program will give you 6% of the base loan toward down payment and closing costs if your income is below 50% of the median income for the county that your are looking in. Great way to lower your cash needed to close.
Smart Buy College Loan Payoff
Are you tired of your college loans and wish there was a way to get rid of them? You can have up to $20,000 in college loans paid off and forgiven when buying a home through this program. You can also get additional funds to help with down payment. Hit that prequaly tab and lets get started.
MMP Flex 3%
Another statewide down payment assistance program that isn’t limited to those that are buying a home for the first time is the MMP Flex 3% . As long as you have a credit score of 640 or better, you can apply 3% of a loan towards a down payment or closing costs.
Montgomery County Homeownership
Are you looking in Montgomery County? If so, you may be in luck. There can be up to $25,000 avaiable to you. Some of these programs are true grants based on time of residency in the home.
FHLB Grant
Another great option is the FHLB funds. There are three programs that will go up to $20,000 in assitance. True grant options can be available. This program is available in all counties.
Frist Home Community Empowerment
The First Home Mortgage Community Empowerment Initiative provides up to $5,000 in grant funds to buyers in certain geographical areas. You do not need to be a first time buyer for this program.
Rural Housing
If you are buying a home that is just outside of city limits you might be able to get 100% financing with a below-market interest rate. Rural housing is property and income-specific, but you might be surprised by what is considered “rural."
City and County Down Payment Assistance Programs
Did you know that if you’re looking to buy a home in a certain city or country as a first-time homebuyer, you may qualify for even more down payment assistance and closing cost assistance programs? We at The My Home Mortgage Team know that purchasing your first home can be intimidating and expensive. That’s why we provide you with all of the resources possible to ensure a smooth and easy process that falls within your budget. Here are a few of the cities and counties that offer the best first-time home buyer loans:
- Anne Arundel County
- Baltimore City
- Baltimore County
- Frederick County
- Howard County
- Prince George’s County
- Montgomery County
- And More!
Get Started With The MyHome Mortgage Team Today!
For more information on the specific programs available, give the MyHome Mortgage Team a call. We have been helping people purchase their first home for over 30 years and know how to get you in your dream home in a timely manner at an affordable price.
Why Choose The MyHome Mortgage Team for Maryland Down Payment Assistance Programs
The MyHome Mortgage Team is comprised Rob Schurr, Branch Manager who has been helping homebuyers for over 30 years in the Maryland, DC and Virginia areas. In addition, Tammi Printz another 20 year season loan officer, that has consistantly rank as one of the top first time buyer loan officers in Maryland. Combined their experience insures that their clients are maimizing their true potential. Their local team consist of seasoned processors, closers and team managers that have provided the best in support and knowledge to their clients to insure a smooth closing. At First Home Mortgage, we understand that every homeowner's journey is different. We look forward to understanding your goals and providing the best and most knowledgable solutions to make home ownership happen.
Local Expertise Matters
The MyHome Mortgage Team is local and experienced. We have in-depth knowledge and expertise in Maryland's Down Payment Assistance Programs. We understand the specific requirements, eligibility criteria, and application processes associated with these home down payment assistance programs. With our guidance, we can help you navigate the complexities of the programs and maximize your chances of securing the financial assistance you need. Being the top local lender, most real estate agents know us and trust our Pre-Approval process and letters. This will come in handy when you make an offer on a home.
It Takes A Personalized Approach
We take a personalized approach to assist our clients in accessing down payment assistance programs. We understand that each individual's situation is unique, and we tailor our local services to meet your specific needs. The MyHome Mortgage Team will work closely with you to understand your financial goals and help identify the most suitable home down payment assistance programs that align with your circumstances.
Extensive Network
Over the years, we have developed strong relationships with key stakeholders, lenders, and government agencies involved in Maryland's Down Payment Assistance Programs. This network allows us to stay up-to-date with the latest program changes, guidelines, and funding availability. We leverage these connections to provide you with accurate information and streamline the application process.
Simplified Process
The process of applying for home down payment assistance can be overwhelming, and the paperwork can be daunting. The MyHome Mortgage Team will simplify the process for you. We guide you through every step, ensuring that all necessary documents are prepared correctly and submitted on time. Our goal is to make the application process as smooth and stress-free as possible for you.
Continued Support
Our commitment to you doesn't end once you receive the down payment assistance. We continue to provide ongoing support to ensure a successful homeownership journey. We offer guidance and assistance with mortgage financing, provide education on homeownership responsibilities, and help you navigate any challenges that arise along the way.
Proven Track Record
The success stories of our satisfied clients reflect our dedication to helping individuals and families achieve their homeownership goals. We have successfully assisted numerous clients in accessing Maryland Down Payment Assistance Programs, making their dream of owning a home a reality. We serve all of Maryland, Virginia, D.C. and yes Florida to!!
Receive Help From Our Maryland Down Payment Assistance Programs!
With so many steps to take and things to consider when looking for a loan for your home, if you want the best results to favor your case, there’s no room for guessing games. This is where the MyHome team of experts comes in to help you. With our vast experience in the loan and mortgage industry, we can assure you that we will explore your best down payment assistance options. It all starts with contacting us today. We’ll be more than happy to assist you and answer any questions!
Testimonials
Patient & Helpful
Tammi was very patient and very helpful throughout the entire application process. Being a first-time home buyer I didn't know a lot of this which made me frustrated but I was able to get approved and now I am a homeowner thanks to Tammi!
— James C.
No Pressure or Stress!
Tammi Lewis made my home buying experience very easy. I felt no stress or pressure. Tammi was with me every step and made sure I understood everything with detailed talks. My credit score was low and Tammi advised me how to raise it. So that the Loan process would be approved with no problems. Any one know that wants to buy their first home I am recommending Tammi Lewis and First Home Mortgage.
— Charlie F.
Professional & Timely
Rob made sure my experience as a first time home buyer was smooth and painless. Very professional and got things done in a timely manner. Could not have asked for more!
— Samantha J.
Great Experience for a New Homeowner
Rob was at all times, willing to go over the numerous pages of information with me. I am a new homeowner and had many as this was my first time navigating the home-buying waters. He explained things to me in a way that I understood and got me all of my documents in a timely and efficient manner. I enjoyed working with him and would refer him to anyone who is looking.
— Erica F.