Maryland Mortgage Program 1st Time Advantage Direct
The Maryland Mortgage Program (MMP) helps homebuyers in Maryland achieve their dream of homeownership through a range of programs that make purchasing and owning a home more affordable. MMP home loans are 30-year fixed-rate loans available as either Government or Conventional insured loans. 1st Time Advantage loans are designed to offer eligible homebuyers the lowest 30-year fixed interest rate available for Maryland Mortgage Program loans. The 1st Time Advantage Direct loan offers the most competitive interest rates within this product line.
This program allows you to borrow money to buy your home.
ELIGIBILITY & LIMITATIONS
- You must earn a homeownership counseling certificate before closing on your home.
- You may not own other properties at the time of closing.
- You must live in this home as your primary residence.
- You must use a Maryland Mortgage Program-approved lender.
- For purchases in Baltimore City, this program is not limited to first-time homebuyers.
- Your mortgage amount cannot exceed Maryland Mortgage Program limits.
- Household income cannot exceed Maryland Mortgage Program limits
- The Maryland HomeCredit Program cannot be used with 1st Time Advantage loans.
- Maryland Mortgage Program Partner Match cannot be used with 1st Time Advantage Direct loans.
Maryland Department of Housing and Community Development, Maryland Mortgage Program
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