Maryland Program Helps First Responders and Teachers Buy Homes

State of MD - The State of Maryland has a program to help first responders and teachers buy their first home. It offers a lower interest rate on a first mortgage along with help covering the down payment and closing costs.

The program is called the Maryland Mortgage Program, or MMP. It is open to eligible first-time homebuyers who work full time as a first responder or teacher in Maryland.

People moving to Maryland for a full-time first responder or teacher job can also apply. They must have a signed, non-contingent job offer from a Maryland employer.

The program includes a competitive 30-year fixed-rate first mortgage. It also comes with a second loan equal to 5% of the first mortgage amount to help with the down payment and closing costs.

That second loan has no interest and is deferred for 30 years. Homeowners do not make monthly payments on it as long as they live in the home and keep their first mortgage.

The second loan only has to be paid back when the home is sold, refinanced, or transferred. It can also be combined with outside grants or loans from employers, builders, or non-profits, as long as those meet MMP and lender guidelines.

To qualify, applicants must be first-time homebuyers working as an eligible first responder or teacher. They also need to complete an approved Homebuyer Education class.

Applicants must meet standard MMP loan requirements, including income limits, credit score, and purchase price limits. They will also need to provide written proof of employment and income.

Eligible first responders include firefighters, EMTs, paramedics, and volunteer firefighters with at least 12 months of documented service.

Police officers, rescue squad members, State Fire Marshal employees, and 9-1-1 specialists can also qualify.

Eligible teachers include full-time, state-certified classroom teachers and school counselors. They must work at an accredited or state-recognized public, private, or vocational school serving students in pre-K through 12th grade.