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Local Maryland Down Payment Assistance
Local Down Payment Assistance Programs
Maryland Down Payment Assistance Local
Learn About Local Maryland Down Payment Assistance
The following mortgage down payment assistance programs were developed by local Maryland counties and municipalities. See more information about statewide Maryland down payment assistance programs.
Baltimore City
Baltimore City
Baltimore offers the following Local Down Payment Assistance:
- Baltimore City Employee Homeownership Program
- Maximum loan of $3,000
- Additional $750 is given for homes purchased in Healthy Neighborhood target blocks:
- Belair-Edison
- Brooklyn and Curtis Bay
- Coldstream Homestead Montebello
- Coppin Heights (and Bridgeview/Greenlawn)
- Cylburn and Levindale
- Edmonson Village
- Garwyn Oaks, Hanlon and Howard Park
- Glen
- Greater Homewood (Waverly, Better Waverly, Remington, Ednor Gardens-Lakeside and Charles Village)
- Greater Mondawmin (Mondawmin, Parkview/Woodbrook, Liberty Square and Panway/Braddish Avenue)
- Midtown (and Mount Vernon, Charles North, Seton Hill and Madison Park)
- Neighborhoods of Greater Lauraville (Lauraville, Waltherson, Arcadia, Hamilton Hills, Moravia-Walther, Morgan Park and Beverly Hills)
- Patterson Park (and Patterson Place and McElderry Park target blocks)
- Reservoir Hill
- Southeast (Highlandtown, Greektown and Bayview)
- Belair-Edison
- Loan is forgivable over 5 years, reducing 20% annually
- Buyer must be an active employee of Baltimore City’s agencies working for a minimum of 6 months
- Buyer must contribute a minimum of $1,000
- Approved for use with FNMA, FHLMC, FHA, VA and RD first mortgages
- Ineligible neighborhoods:
- Bellona-Gittings, Blythewood, Canton, Cedarcroft, Cross Keys, Evergreen, Federal Hill, Guildford, Hunting Ridge, Homeland, Homeland-Gallagher, Kernwood, Keswick, Lake Evesham, Loyola, Mount Washington, North Roland Park, Otterbein, Original Northwood, Roland Park, Roseband, Sabina-Mattfeldt, Ten Hills, The orchards, Tuscany-Canterbury, and Wyndhurst
- Maximum $25,000 forgivable loan (Subsidies of $100,000 or more may be available for homes in Reservoir Hills)
- Total Household Income cannot exceed 120% of the Area Median Income
- Property must be foreclosed and purchased at a discount of at least 1% of the appraised value
- Eligible Neighborhoods:
- Reservoir Hill
- Better Waverly
- Barclay/Old Goucher
- Ednor Gardens
- Coldstream Homestead Montebello
- Belair-Edison
- Patterson Park/McElderry Park
- Reservoir Hill
- Maximum interest free loan of $5,000
- Loan is forgivable over 5 years, reducing 20% annually
- Total Household Income cannot exceed 80% of the Area Median Income
- Maximum no-interest grant of $50,000
- Forgivable over 10 years, reducing 10% annually
- No income restrictions
- Not limited to first time buyers
- Eligible Properties:
- Townes @ Eager (Townhouse Condos)
- Green Rehab Houses
- Townes @ Eager (Townhouse Condos)
- To qualify for the Employee Homeownership Program and CDBG buyers are required to complete homeownership counseling through a City-approved agency. To qualify for the Direct Purchase Program buyers are required to complete 8 hours of housing counseling through a HUD-approved agency.
Direct Purchase Program
Community Development Block Grant Program (CDBG)
Eastside Early Homebuyers Grant Program
Homebuyer Education
Frederick
Frederick
Frederick offers the following Local Down Payment Assistance:
- Community Development Block Grant
- Maximum loan of $15,000
- Full loan amount is repayable upon sale of transfer of the property
Hagerstown
Hagerstown
Local Down Payment Assistance programs available in Hagerstown:
- Community Development Block Grant (CDBG) Second Mortgage
- Maximum loan of $10,000
- 30-year deferred loan with 0-4% interest
- Buyers must obtain a 5% first mortgage through the Maryland Mortgage Program (MMP)
- Property must be located in one of Hagerstown’s Smart Growth Areas
Prince George's County
Prince George's County
Prince George's County offers the following Local Down Payment Assistance:
- American Dream Down payment Initiative (ADDI)
- Maximum loan of $5,000
- Loan is forgivable over 5 years, reducing 20% annually
- Buyer must contribute a minimum of $1,000 toward the purchase
- Approved for use with FNMA, FHLMC, FHA, VA and RD first mortgages
- To qualify for down payment assistance in Maryland, buyers are required to complete a HUD-certified first time homebuyer counseling course.
Homebuyer Education
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About Local Maryland Down Payment Assistance
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Toll-Free 877 878 0100
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Meridian Home Mortgage Corporation NMLS #56301. Licensed by the Virginia State Corporation Commission #MC-3680; Commonwealth of Pennsylvania Department of Banking #21605; State of Maryland #8196; Connecticut Banking Commission #11930; Delaware Bank Commissioner #7885, District of Columbia MLB56301; Florida Office of Regulation MLD172; Massachusetts Division of Banks Broker #MB56301; Kentucky MB 72686; Washington CL-56301; Oregon ML-4979; Georgia Department of Banking and Finance #33346.
Loans are arranged through third parties. We arrange but do not make loans.
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074