--- title: Maryland Mortgage Program description: The Maryland Mortgage Program (MMP) offers state-backed financing for first-time homebuyers and moderate-income residents in Maryland. --- [Skip to content](https://www.borgersonhomeloans.com/maryland-mortgage-program#main-content) [![Matt-Borgerson-Team-Harpoon-1](https://www.borgersonhomeloans.com/hs-fs/hubfs/Matt-Borgerson-Team-Harpoon-1.png?width=400&height=162&name=Matt-Borgerson-Team-Harpoon-1.png)](https://www.borgersonhomeloans.com/) - Financing Show submenu for Financing - [Conventional Home Loans](https://www.borgersonhomeloans.com/conventional-home-loans) - [Adjustable Rate Mortgages](https://www.borgersonhomeloans.com/adjustable-rate-mortgages) - [Jumbo Loans](https://www.borgersonhomeloans.com/jumbo-loan-programs) - [Refinancing](https://www.borgersonhomeloans.com/mortgage-refinancing-programs) - [Buyer Q&A Sessions](https://www.borgersonhomeloans.com/homebuyer-seminars) - [Resources](https://www.borgersonhomeloans.com/blog) - Locations Show submenu for Locations - [Virginia](https://www.borgersonhomeloans.com/locations/virginia) - [Washington, D.C.](https://www.borgersonhomeloans.com/locations/washington-dc) - [Maryland](https://www.borgersonhomeloans.com/locations/maryland) Open main navigation Close main navigation - Financing Show submenu for Financing - [Conventional Home Loans](https://www.borgersonhomeloans.com/conventional-home-loans) - [Adjustable Rate Mortgages](https://www.borgersonhomeloans.com/adjustable-rate-mortgages) - [Jumbo Loans](https://www.borgersonhomeloans.com/jumbo-loan-programs) - [Refinancing](https://www.borgersonhomeloans.com/mortgage-refinancing-programs) - [Buyer Q&A Sessions](https://www.borgersonhomeloans.com/homebuyer-seminars) - [Resources](https://www.borgersonhomeloans.com/blog) - Locations Show submenu for Locations - [Virginia](https://www.borgersonhomeloans.com/locations/virginia) - [Washington, D.C.](https://www.borgersonhomeloans.com/locations/washington-dc) - [Maryland](https://www.borgersonhomeloans.com/locations/maryland) - [Contact us](https://www.borgersonhomeloans.com/#contact) [Contact us](https://www.borgersonhomeloans.com/#contact) # Maryland Mortgage Program: Affordable Homeownership for Maryland Residents ## Low Down Payments | Competitive Interest Rates | State-Backed Assistance The Maryland Mortgage Program (MMP) offers state-backed financing for first-time homebuyers and moderate-income residents in Maryland. Designed to make homeownership accessible, MMP provides low down payments, competitive interest rates, and various assistance programs. In Maryland, eligible buyers can take advantage of state-specific benefits to find affordable housing solutions while achieving their homeownership dreams. ## What Is a Maryland Mortgage Program Loan? A Maryland Mortgage Program loan offers state-backed financing for first-time homebuyers. ![Copy of Untitled (29.7 x 21 cm) (14)](https://www.borgersonhomeloans.com/hs-fs/hubfs/Copy%20of%20Untitled%20(29.7%20x%2021%20cm)%20(14).jpg?width=1200&height=630&name=Copy%20of%20Untitled%20(29.7%20x%2021%20cm)%20(14).jpg "Copy of Untitled (29.7 x 21 cm) (14)") - **Low Down Payments:** Affordable upfront costs. - **Competitive Interest Rates:** Lower rates for eligible buyers. - **Down Payment Assistance:** Financial support for down payments. - **First-Time Homebuyer Focus:** Designed to help First-Time Homebuyers, but options for Repeat Buyers are also available. - **Local Benefits:** Tailored programs for Maryland communities. ## Who Qualifies for a Maryland Mortgage Program Loan? Maryland Mortgage Program loans are for first-time homebuyers seeking affordable financing. - **First-Time Homebuyers:** Designed to focus on new homebuyers, but repeat buyer options are also available. - **Moderate Income Requirements:** Income limits vary by household size. - **Primary Residence Requirement:** Must be used as the buyer's main home. - **Maryland Residency:** Available only to Maryland residents. - **Down Payment Assistance Eligibility:** Qualified buyers can receive financial aid. ![Copy of Untitled (29.7 x 21 cm) (13)](https://www.borgersonhomeloans.com/hs-fs/hubfs/Copy%20of%20Untitled%20(29.7%20x%2021%20cm)%20(13).jpg?width=1200&height=630&name=Copy%20of%20Untitled%20(29.7%20x%2021%20cm)%20(13).jpg "Copy of Untitled (29.7 x 21 cm) (13)") ## Maryland Mortgage Program  vs. Conventional Loans: Key Differences *\*Loan eligibility and terms depend on lender approval and Maryland Mortgage Program guidelines.* ![real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24](https://www.borgersonhomeloans.com/hs-fs/hubfs/real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24.png?width=96&height=96&name=real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24.png "real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24") ### Conventional Loans **✔️ Down Payment:** 3-20% **✔️ Mortgage Insurance (PMI):** Required if <20% down **✔️ Credit Score Requirement:** 620+ **✔️ Interest Rates:** Varies by credit score **✔️ Loan Limits:** Subject to FHFA loan limits **✔️ Eligible Borrowers:** Any qualified borrower ![real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24](https://www.borgersonhomeloans.com/hs-fs/hubfs/real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24.png?width=96&height=96&name=real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24.png "real_estate_agent_24dp_5F6368_FILL0_wght400_GRAD0_opsz24") ### Maryland Mortgage Program **✔️ Down Payment:**   Low required **✔️ Mortgage Insurance (PMI):** Often required **✔️ Credit Score Requirement:** Flexible options **✔️ Interest Rates:** Competitive rates **✔️ Loan Limits:**  Maryland-specific **✔️ Eligible Borrowers:** First & repeat buyers ## How to Apply for Maryland Mortgage Program Step 1: Confirm Your Eligibility Step 2: Get Pre-Qualified Step 3: Find Your Home Step 4: Finalize Your Loan Verify your income meets Maryland Mortgage Program limits. Check your credit score and review lender requirements. Confirm first-time homebuyer status or eligibility for Maryland-specific assistance.     Gather financial documents, including proof of income and credit history. Contact an approved Maryland Mortgage Program lender for pre-qualification. Submit required information to determine your budget and loan eligibility.     Search for eligible homes in Maryland within your budget. Work with a real estate agent familiar with Maryland Mortgage Program properties. Make an offer and secure a purchase agreement for your chosen home.   Complete the loan application with your chosen Maryland Mortgage Program lender. Provide necessary documents, including proof of income and property details. Close on your new home and finalize the loan process. ## Frequently Asked Questions About Maryland Mortgage Program What Are the Maryland Mortgage Program Income Limits? Maryland Mortgage Program income limits vary by household size and location. These limits are set to help moderate-income homebuyers. Check the official Maryland Mortgage Program website for the latest income requirements. What Are the Maryland Mortgage Program Interest Rates? Maryland Mortgage Program interest rates are competitive and vary by loan type. Rates are designed to make homeownership affordable. Visit the official website for current rates and loan options. What Is the Emergency Mortgage Assistance Program in Maryland? The Emergency Mortgage Assistance Program in Maryland helps homeowners facing financial hardship. It provides temporary relief to prevent foreclosure. Check eligibility and application details on the Maryland Department of Housing website. Does the Maryland Mortgage Program Cover Student Loans? Yes, the Maryland Mortgage Program offers options for buyers with student loan debt. The program helps manage student loan payments while securing a home loan. Learn more about eligibility requirements online. What Is the Maryland Mortgage Program 1st Time Advantage? The Maryland Mortgage Program 1st Time Advantage offers special rates and down payment assistance for first-time homebuyers. It provides financial support to help new buyers enter the housing market. ## Get Started with Your Maryland Mortgage Program Loan Today Maryland Mortgage Program loans help first-time homebuyers and moderate-income residents achieve affordable homeownership. As a dedicated loan officer, Matthew can guide you through the process in Maryland, ensuring you find the best financing options to meet your needs. Reach out to learn more! 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