Maryland Statewide Assistance
Buy Your First Home, Stress-Free!
First Time Home Buyer Assistance
Congrats! You are on the exciting journey of buying and owning your own home and being able to stop paying someone else’s mortgage. We at My Home Mortgage Team know this process can get confusing and stressful, but we are here to show you that it doesn't need to be that way. Our goal is to guide you through our seamless process so you can have the keys to your own home soon. Contact us today to get started!
Get Started With My Home Mortgage Team Today
My Home Mortgage Team has been helping people buy their dream home for over 25 years now. We know the process of buying a home inside and out, and our expert staff at My Home Mortgage Team can help you get the best assistance possible to make buying your first home a breeze. Pre-qualify today and open the door to your very first home sooner than you thought possible. All you have to do is contact us to get started, and we will take it from there!
Far too often, we at The My Home Mortgage Team hear people say that buying a house is too expensive, requires immaculate credit, and is way too stressful. We have been helping people buy their dream homes for over 25 years now and know that these assumptions aren’t true. Did you know that just by living in Maryland and looking to buy a home within the state qualifies you for first time home buyer down payment assistance programs? To learn more about the different programs and how to qualify, reach out to us today!
Assistance Programs Available:
What if we told you that being a first-time home buyer meant you qualified for a host of down payment assistance programs, and wouldn’t have to put any money down when you purchase a home? If you think that’s too good to be true, think again. We at The My Home Mortgage Team are here to inform you of all of the great financial assistance programs you have as a first-time home buyer. We will take the time to understand you and your needs, and then give you the tools and resources you need to reap the benefits of the many down payment assistance programs offered in D.C. Here’s an outline of a few of the programs available:
Assistance Programs Available:
Maryland Mortgage Program
Looking for reduced mortgage insurance premiums? If you have a minimum credit score of 640, this program allows you to apply 3% assistance towards the down payment. This assistance has to be paid back upon sale, refinance, or default. Eligibility for this loan includes conventional, FHA, VA, USDA.
MMP 1st Time Advantage Direct
If you have a 640 minimum credit score, you can also qualify for this assistance program. The MMP 1st Time Advantage Direct program offers a below market interest rate and can reduce your mortgage insurance premium. Contact us today to learn more.
1st Time Advantage 5000
Does $5,000 of assistance sound appealing to you? That’s what you can receive with this statewide program. If you have a minimum credit score of 640, you are eligible to qualify for this
Flex 4% Grant
Not a first time home buyer? No problem! This assistance program is not limited to first time home buyers and offers 4% of a loan amount to be applied towards a down payment and/or closing costs. The best part? Grant funds do not have to be paid back.
MMP Flex 3% Grant
Another statewide assistance program that isn’t limited to those that are buying a home for the first time is the MMP Flex 3% Grant. 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. Similar to the Flex 4% Grant, you do not have to repay the grant funds.
MMP Flex 3% Loan
If you have a credit score that is 640 or higher, you can receive a 0% interest, 30-year deferred loan. In addition to that, you can also apply 3% of the loan towards the down payment on your home or the closing costs.
MMP Flex 5000
Whether you’re looking to buy your first home or you have bought a home in the past, you can qualify for the MMP Flex 5000 program so long as you have a minimum credit score of 640. If you meet the qualifications, you can receive a $5,000 loan for your down payment and/or closing costs.
MMP Flex Direct
The MMP Flex Direct offers a competitive interest rate to home buyers that have a credit score of at least 640. Similar to some of the other statewide assistance programs, you do not need to be a first time home buyer to qualify.
If any of these programs caught your attention, let us know! We can help guide you through the process and get you into your dream home!
