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Maryland Mortgage Program - Wicomico/ Worcester/Washington (Non-Targeted)
MD Dept. of Housing & Community Development (DHCD)
Maryland Mortgage Program - Wicomico/ Worcester/Washington (Non-Targeted) is a
low-interest, fixed-rate mortgage financing program available though certified lenders with 30-year term for first-time homebuyers or buyers who have not owned a principal residence for 3 years. Closing cost and downpayment assistance is available with all state single-family mortgage products. All of Maryland - different limits for incomes and maximum loans are applicable in different locations.
Who is eligible for this program?
You must be a first-time homebuyer in most parts of Wicomico, Worcester and Washington counties. Must meet income qualifications and purchase price limits. In non-targeted areas, incomes can be as high as $88,080 for 1-2 persons and $102,760 for households of 3 or more persons.
Up to 100% of the sales price may be financed depending upon mortgage insurance selected.
Maximum % of Sales Price:
HUD Median Income Limits: 100
Household Income Limit: $ 98555
Is this program for first time buyers only? Yes
Property Eligibility Requirements
You MUST be a first-time homebuyer UNLESS the property is located in:
Washington County (ONLY Census Tracts 0003.02, 0004.00, 0007.00 and 0009.00); Wicomico County (ONLY Census Tracts 0001.00, 0003.00, 0005.00, 0102.00); and Worcester County (ONLY Census Tract 9903.00). Borrower MUST be a first-time homebuyer in all other areas.
The sales price cannot exceed $
329,854 in Washington County, $287,257 in Wicomico County and $382,281 in Worcester County..
Allowable property types:
Existing single family, new construction (MUST be in a designated Priority Funding Area), townhouses, detached or semi-detached homes; condominium units, modular or manufactured homes (with state-approved code compliance)
The Maryland Mortgage Program, also called More House 4 Less, allows financing for up to 100% of the sales price at below-market, fixed interest rates.
Only 30 -year fixed rate mortgage is currently available.
The homebuyer may select a Downpayment and Settlement Expense Loan (DSELP) up to $5,000. (The DSELP loan is a 0% deferred loan, repayable upon sale of the home or refinancing of the state’s loan.)
Please note: Every attempt is made to reflect
accurate and up to date information on housing programs displayed
on this site. Some inaccuracies may exist. For verification contact
a certified REALTOR member or a participating Lender.
For more information about this and other homebuyer programs please
contact one of the following:
Workforce Housing Certified REALTOR®
Find a participating Lender