1st Time Advantage

Maryland Mortgage Program has numerous loan programs, and 1st Time Advantage is the most common Maryland Mortgage Program product we offer, because it comes with a down payment assistance loan of up to 5% of the loan amount.  This program is for first time buyers in Maryland and is available throughout the state.  1st Time Advantage can be paired with a conventional, FHA, VA, or USDA loan.

The assistance is repaid without interest to the state when you move out, sell, or refinance your home. Because the assistance loan of 5% is greater than the required down payment of 0%, 3%, or 3.5% of the purchase price, the funds go towards both down payment and closing costs.

1st Time Advantage has four assistance amounts though, starting at $6,000 and then 3%, 4%, and 5% (of the loan amount).  The assistance is paired with a mortgage at an interest rate set by the state, and the more assistance, the higher the interest rate.

And so if you don’t need a full 5% assistance loan you would be able to consider a lesser amount of assistance with a lower interest rate.  In addition to 1st Time Advantage, Maryland Mortgage Program has numerous other loan products and it’s my pleasure to help you understand the options and which is the very best for you.

You can check interest rates for MMP here.  It’s only possible for us to reserve a loan for you with MMP on business days 11-5 after you have a signed purchase contract.


Pre-Qualify Now: 240 – 479 – 7658