Maryland - Government Backed Loans

The Maryland Department of Housing and Community Development works with partners to finance housing opportunities and revitalize great places for Maryland citizens to live, work and prosper.

Refinance Programs

Lifeline Refinance Mortgage Program

Designed to assist homeowners who are facing foreclosure due to an inability to meet monthly mortgage payments, the Lifeline Refinance Mortgage Program provides a refinancing option. Closing costs, pre-payment penalties and CDA's points may be rolled into the refinancing principal amount, and the Lifeline Program does require acceptable credit standing.

Continue reading about Lifeline Refinance Mortgage Program.

Bridge to HOPE Loan Program

The Bridge to HOPE Loan Program provides homeowners with short-term relief in order to assist them in maintaining homeownership. Homeowners' inability to meet monthly mortgage payments may be due to a sub-prime or exotic mortgage that is preparing to reset; Bridge to HOME's program offers a maximum loan amount of $15, 000, and homeowners must meet income and appraised value limits in order to qualify.

Continue reading about the Bridge to HOPE Loan Program.

Homesaver Refinance Mortgage Program

The Homesaver Refinance Mortgage Program offers a refinancing option to homeowners who have sub-prime or exotic mortgages and are unable to meet monthly mortgage payments due to mortgage default, low credit scores, or a mortgage greater than the appraised value of their home. Income limits and a credit score of 550 minimum applies.

Continue reading about the Homesaver Refinance Mortgage Program.

Purchase Programs

House Keys 4 Employees

The House Keys 4 Employees program works in partnership with participating employers to provide homebuyers with downpayment and closing cost assistance. DHDC matches employers' contributions dollar-for-dollar, for an amount up to $5, 000. The matching amount provided by DHDC is received by homebuyers in the form of a deferred-payment that is payable at the time of payoff or refinance.

Continue reading about House Keys 4 Employees.

Builder/Developer Incentive Program

First-time homebuyers who fall within designated income limits and have received a contribution from a participating builder or developer to be used toward downpayment or closing costs may be eligible for the Builder/Developer Incentive Program. DHDC matches the contributed amount dollar-for-dollar, with a maximum amount of $2, 500. This amount is provided for the homebuyer in the form of an interest-free, deferred payment loan.

Continue reading about Builder / Developer Incentive Program.

Community Partner Incentive Program

Homebuyers who have received a contribution from a participating Community Partner to be used toward downpayment and closing cost assistance may be eligible for the Community Partner Incentive Program. DHDC matches the contributed amount dollar-for-dollar, with a maximum amount of $2, 500. This amount is provided for the homebuyer in the form of an interest-free, deferred-payment loan that is repayable at time of payoff or refinancing.

Continue reading about Community Partner Incentive Program.

Homeownership for Individuals with Disabilities Program

In order to qualify for the Homeownership for Individuals with Disabilities Program, one of the homebuyers must have a disability, or have a child under 18 years of age with a disability. An interest rate ranging from 0% to 5.875% is applicable and determined according to homeowners' income and level of affordability. The loan offered through this program has a term of 40 years, and a minimum $500 cash contribution is required from the homebuyer.

Continue reading about Homeownership for Individuals with Disabilities Program.