Maryland Mortgage Program

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Maryland Mortgage Program

The Maryland Mortgage Program (previously called DSELP)is a homeownership program that has helped thousands of families achieve the dream of homeownership through a combination of mortgage financing, down payment assistance, tax credits, and more.

Maryland Mortgage Program (MMP) Highlights

  • The maximum eligible income for a household of 1 or 2 persons is $145,560. The maximum eligible income for a household of 3 or more persons is $169,8300. (Montgomery and Prince George’s Counties only.)

  • Mortgage loan cannot exceed $525,901. (Montgomery and Prince George’s Counties only.)

  • The home must be the homebuyer’s primary residence.*
    *Certain Targeted Areas buyers do not have to be a first-time home buyer.

  • Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.

  • Incentive may be used toward downpayment and closing costs.

  • This is a 0% interest deferred loan (You must repay this loan when you refinance your mortgage, transfer ownership, or sell the home).

  • This incentive may be used in addition to other incentives. Homebuyer must use a Community Development Administration (CDA) mortgage loan.

  • Incentive appears as a second lien on property until the balance is forgiven or repaid.

  • Homebuyer must use an approved lender.

What is the Maryland Mortgage Program?

The Maryland Mortgage Program (MMP) provides 30-year fixed-rate home loans to eligible homebuyers purchasing in Maryland. Loan terms are competitive with other home loan products on the market, but what makes MMP unique is the range of associated financial incentives and other assistance that, for many homebuyers, means the difference between being able to purchase and continuing to rent.

    Home Loans

    All home loan products available through MMP are 30-year, fixed-interest rate mortgages. There are a few different types of home loan products, and they generally vary by the kinds of downpayment and closing cost assistance that are available with them. The main loan product types available through MMP are 1st Time Advantage, Flex and a variable number of Specialty Products that usually run for a limited time.

    Maryland SmartBuy

    Maryland SmartBuy is a program that makes selected state-owned homes available for sale, and allows eligible homebuyers to use special MMP financing to pay off their outstanding student debt as part of the home purchase. Other programs may be available for limited times for targeted locations or eligible groups.

    Down Payment and Closing Cost Assistance

    Down payment and closing cost assistance is money that you can use to meet the requirements for securing a home loan, and which makes the purchase a of a home more affordable. Funds available for down payment and closing costs may be provided in the form of a grant or as a deferred, no-interest loan.

    Maryland HomeCredit Program (Federal Tax Credits)

    A Maryland HomeCredit, otherwise known generically as a “mortgage credit certificate” is issued to the homebuyer at the time of the purchase of a home, and allows the homeowner to claim a federal tax credit of up to $2,000 each year for the life of the loan. The amount that can be claimed each year is based on the amount of mortgage interest paid on the loan. Fees may apply.

    Partner Match Program

    Many organizations and employers in Maryland have programs to help homebuyers including grants, loans and other helpful assistance. If you’re using the 1st Time Advantage 5000 or the Flex 5000, and you are receiving assistance from one of the employer, builder or community partners listed, you may be able to receive matching funds up to $2,500. The match funds come in a zero percent loan and are repayable when the first mortgage gets paid off.

    Statewide Approved Lender Network

    Homebuyers can apply for a Maryland Mortgage Program home loan through one of more than 80 approved mortgage lenders. Loan officers from these approved organizations can help homebuyers customize a home loan package that’s right for them, and will collect, review and submit all relevant documents during the loan application process.

    Homebuyer Education

    Homebuyer education, sometimes called housing or pre-purchase counseling, helps homebuyers prepare for the journey of purchasing a home and the many new challenges of being a homeowner. For some Maryland Mortgage Program loans, completing homebuyer education is a requirement. Note that in some jurisdictions, specific course providers or course types must be completed to meet full eligibility for a Maryland Mortgage Program loan.


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