Wednesday, March 31, 2010

Maryland Mortgage Program (CDA)

Get Assistance:

The costs of downpayment and settlement can overwhelm first-time homebuyers and is listed as the #1 barrier to homeownership. That's why CDA has added more assistance programs for downpayment and closing costs.

Community Development Administration (CDA) offers a standard downpayment and closing cost assistance products for any borrower who is eligible for a Maryland Mortgage Program loan. Also, borrowers may choose to receive a zero-percent deferred loan through the Downpayment and Settlement Expense Loan Program (DSELP).

Read the FAQs:


Additional Assistance through our Partner Match Programs:

In addition to the standard downpayment and closing cost assistance programs listed above, you may be able to get more assistance through our creative Partner Match initiatives. These initiatives involve partnerships with participating employers, builders and developers, and community partners. CDA will provide a dollar-for-dollar match (up to $5,000) to a participating partner’s financial contribution for downpayment and closing cost assistance. DHCD will double the amount (up to $10,000) of the normal HK4E match for borrowers that meet the criteria for Smart Keys 4 Employees.

Read the FAQs:

House Keys 4 Employees (HK4E)
Builder/Developer Incentive Program (BDIP)
Community Partner Incentive Program (CPIP)

Please note: If a borrower is requesting a Downpayment and Settlement Expense Loan Program (DSELP) and/or assistance through a Partner Match Program loan on a property located in the City of Baltimore or in Anne Arundel, Baltimore, or Harford County, the borrower must meet the applicable requirements (see information found at the end of the “Counseling” page).

Maryland Mortgage Program A CDA mortgage program

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