Maryland Mortgage Program- FREE Closing Cost Assistance

Maryland Mortgage Program- FREE Closing Cost Assistance
Betsy Spiker Holcomb, Deep Creek Lake’s Favorite Realtor
Maryland Mortgage Program- FREE Closing Cost Assistance
Call Betsy @ 301-616-5022 with questions.

Maryland Mortgage Program- Closing Cost Assistance

  • Effective 1/20/17, the Maryland Mortgage Program is offering the Maryland Mortgage Grant Assist Program.

  • Grant Assist offers homebuyers closing cost assistance in the form of a 4% grant of the first loan amount.

  • Grant funds must be used exclusively for closing costs of the mortgage loan/home purchase.

  • Grant funds may not be used for down payment or combined with any down payment assistance products offered by CDA.

  • The grant must always equal 4%; no higher or lower percentages are allowed.

  • If the grant exceeds closing costs the excess will be applied as a principal curtailment.

  • Employers, builders, developers, non-profits or other contributors may offer additional assistance; however, the Partner Match Program is not available and the assistance will not be matched by the Department.

  • The Fact Sheet with all details will be available on the MMP website Fact Sheet Page at: http://mmp.maryland.gov/Lenders/Pages/Fact-Sheets.aspx

 

Call Betsy Holcomb for more information @ 301-616-5022 or email her at Betsy@deepcreekvacations.com