First Time Home Buyer

 Programs in Maryland

Complete First Time Home Buyer Programs Available in Maryland.

The state agency created by the legislature in Maryland to offer first time home buyer programs is the Maryland Department of Housing and Community Development. Here is a summary of the current first time home buyer programs that are offered:

The CDA Maryland Mortgage Program provides low-interest mortgage loans to eligible homebuyers with low- to moderate-income households through private lending institutions throughout the State.The Program began in 1980 and is targeted primarily to first-time homebuyers.

The Downpayment and Settlement Expense Loan Program (DSELP) is a program used in conjunction with the Maryland Mortgage Program that offers 0% deferred loans up to $3,000 for downpayment and settlement costs to low- and moderate- income homebuyers.

The Homeownership for Individuals with Disabilities Program provides low-interest mortgage loans to eligible disabled homebuyers.

The Department of Housing and Community Development, State of Maryland has State Owned homes for sale throughout the State of Maryland. These homes may be purchased by Homebuyers (Owner/Occupant), Investors, or Non-Profit Organizations.

For complete details on these first time home buyer programs available to Maryland residents, visit the Maryland Department of Housing and Community Development website.

It is highly recommend that you also visit the First Time Home Buyer Grants page.

Best Lender For First Time Home Buyer Loans

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, but simply want to apply for a mortgage, we recommend  ING DIRECT Orange Mortgage They have great rates, an easy online application, and welcome first time home buyers. Additionally they have not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.

Other First Time Home Buyer Programs & Resources