Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Maryland

Maryland Mortgage Program (MMP) Down Payment Assistance

  • What It Offers: Provides up to $6,000 in down payment and closing cost assistance.

  • Who Qualifies: First-time homebuyers and repeat buyers purchasing in targeted areas.

  • Income Limits: Varies by county and household size.

  • Repayment: Structured as a 0% deferred loan, repayable upon sale or refinance.

House Keys 4 Employees Program

  • What It Offers: Matches up to $2,500 from participating employers for down payment assistance.

  • Who Qualifies: Homebuyers working for participating employers.

  • Income Limits: Based on Maryland Mortgage Program guidelines.

  • Repayment: Forgivable loan after five years if the buyer remains in the home.

SmartBuy 3.0 (Student Loan Assistance Program)

  • What It Offers: Provides up to 15% of the home’s purchase price (up to $50,000) for student loan repayment.

  • Who Qualifies: Buyers with existing student loan debt using an MMP loan.

  • Income Limits: Varies by location and family size.

  • Repayment: Forgivable after five years if the buyer remains in the home.

Baltimore City First-Time Homebuyer Programs

  • What It Offers: Provides up to $10,000 in down payment and closing cost assistance.

  • Who Qualifies: Homebuyers purchasing in Baltimore City who meet income and credit requirements.

  • Income Limits: Based on HUD guidelines.

  • Repayment: Forgivable after a set period.

Frederick County

  • Homebuyer Assistance Program: Provides down payment and closing cost assistance to eligible homebuyers purchasing in Frederick County.

Prince George's County

  • Pathway to Purchase: Offers a loan of up to $10,000 for down payment and closing cost assistance to first-time homebuyers.

City of Takoma Park

  • The Home Stretch Down Payment Assistance Program: Provides financial assistance to eligible individuals and families seeking to purchase a home in Takoma Park.

Howard County

  • Settlement Downpayment Loan Program (SDLP): Provides deferred second mortgage loans to income-eligible first-time homebuyers to assist with down payment and closing costs.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

City of Hagerstown

  • Down Payment and Closing Cost Assistance Program: Offers assistance to first-time homebuyers purchasing within the city limits.

City of Gaithersburg

  • Closing Cost Assistance Program: Provides loans to assist with closing costs for first-time homebuyers purchasing within the city.

City of Frederick

  • Homebuyer Assistance Program: Offers down payment and closing cost assistance to eligible homebuyers purchasing within the city limits.

Harford County

  • Homeownership Assistance Program: Offers down payment and closing cost assistance to eligible first-time homebuyers.

City of Bowie

  • Workforce Housing Down Payment Assistance Program: Provides assistance to first-time homebuyers who are employed by the City of Bowie or the Bowie Police Department.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

City of Laurel

  • First-Time Homebuyer Program: Offers down payment and closing cost assistance to eligible first-time homebuyers purchasing within the city limits.

Maryland Mortgage Program (MMP) Down Payment Assistance

  • What It Offers: Provides up to $6,000 in down payment and closing cost assistance.

  • Who Qualifies: First-time homebuyers and repeat buyers purchasing in targeted areas.

  • Income Limits: Varies by county and household size.

  • Repayment: Structured as a 0% deferred loan, repayable upon sale or refinance.

House Keys 4 Employees Program

  • What It Offers: Matches up to $2,500 from participating employers for down payment assistance.

  • Who Qualifies: Homebuyers working for participating employers.

  • Income Limits: Based on Maryland Mortgage Program guidelines.

  • Repayment: Forgivable loan after five years if the buyer remains in the home.

SmartBuy 3.0 (Student Loan Assistance Program)

  • What It Offers: Provides up to 15% of the home’s purchase price (up to $50,000) for student loan repayment.

  • Who Qualifies: Buyers with existing student loan debt using an MMP loan.

  • Income Limits: Varies by location and family size.

  • Repayment: Forgivable after five years if the buyer remains in the home.

Baltimore City First-Time Homebuyer Programs

  • What It Offers: Provides up to $10,000 in down payment and closing cost assistance.

  • Who Qualifies: Homebuyers purchasing in Baltimore City who meet income and credit requirements.

  • Income Limits: Based on HUD guidelines.

  • Repayment: Forgivable after a set period.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.