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Maryland MMP Mortgages

The Maryland Mortgage Program (MMP), is a long-running state-funded program that provides home loans and down payment assistance to Maryland residents.The core of the program is assistance in removing some of the obstacles to home purchase caused by required Down Payments. The Maryland Mortgage Program provides an easy 0% deferred Down Payment Assistance loan of up to $8,500 through a network of approved commercial lenders. There are additional specialty loan offerings also under the MMP mortgage program.

How To Use It

MMP is somewhat complicated, as the rules and eligibility can vary by County and even within each County’s Census Districts.  You can apply for an MMP loan if you are buying a home or condominium in Maryland that you will live in as your primary home, and your household income is below a certain level. As with all mortgage applications, underwriting standards apply, and lenders will take into account things like your income, credit history and employment situation when considering your application for an MMP loan.

The program is primarily based on household income and then geographic factors. In terms of income, you’re immediately eligible to apply for funding if your Household Income (1-2 people) is under $88,400. For 3+ person households, the limit is under $101,300.

You may be eligible if your Household Income is between $88,400 to $128,760 (1-2 people) or $101,300 to $150,220 (3+ people) depending on County and location in the County.

The home you purchase under MMP must be your primary residence. It cannot be an investment property you rent out for income. You also will need to complete a Homebuyer Education Course through a local organization.

Program Incentives

Up to $8,500 in Down Payment Assistance loans are available through the Maryland Mortgage Program (MMP). This is structured as a 0% interest deferred loan due when you sell the property or pay the first mortgage off in full. Most mortgages are on 30 year terms, so your Down Payment loan is not due for a long time. If you sell prior to the initial mortgage being paid off, your home’s appreciation in value and your equity provide the loan repayment funds.

There are a wide range of local employers and organizations that offer additional loans and grants. The MMP program’s overall DCHD governing body runs a Partner Match program where they match up to $3,500 with either a grant or 0% deferred interest loan. This can be combined with the $8,500 noted above.

The Maryland MMP Program delivers easy homebuying financing all over Maryland

UrbanLand Company agents have been helping home buyers successfully navigate the Maryland MMP Program and its spinoff loan programs for years. We've represented over $50 million with successful down payment assistance loans and zero down home purchases using local area programs. Get help now!

Just getting started and want to learn more quickly and easily? Attend one of our Free Workshops (Tuesday nights and Saturday mornings) and ask about Maryland buyer assistance!

UrbanLand COMPANY  Education Homebuyer & Homeowner Workshops

Our Home Buyer Workshops have produced over $50 million in successful home sales since just 2013 for area home buyers using our guidance & representation. We can help you, too!


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Maryland First Time Buyer Blog

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