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Maryland BRAC Matching Program
MD Dept. of Housing & Community Development (DHCD)
http://www.dhcd.state.md.us/Website/programs/cdammp/lp.html

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Program Overview


Maryland BRAC Matching Program is a is a program that enables eligible homebuyers who are using a Maryland Mortgage Program loan to purchase a home to receive an additional $2,500 for downpayment and/or closing cost assistance. The $2,500 is available in the form of a zero percent deferred loan that is repayable at the time of sale, transfer of the home, or upon refinance of the Maryland Mortgage Program loan. The BRAC Match can be combined with other assistance that may be available through any of DHCD's standard downpayment and closing cost assistance programs. Properties must be located in Maryland. Loans may be targetd to certain areas that are more likely to be impacted by BRAC.


Property Eligibility Requirements


The property must be located in Maryland and be eligible for the Maryland Mortgage Program. Loans may be targeted to certain areas more likely to be impacted by BRAC.


Benefit Details


In order for eligible employees to access the BRAC Match Program, employees of federal defense agencies relocating to Maryland because of 2005 BRAC decisions or other employer relocation activities must present a copy of their relocation orders (such as their PCS Orders – DD Form 1614) that reflect eligibility for relocation related real estate expenses and services to their Maryland Mortgage Program lender at the time they apply for the Maryland Mortgage Program loan so that the lender knows to reserve the BRAC Match assistance in the amount of the $2,500. Defense contractors must provide their employee with a letter ("Contractor's Letter") stating that the employee's move is due to 2005 BRAC decisions or the relocation of other federal defense agency activities to Maryland. The letter must describe the type of relocation or home purchasing assistance that the employee is entitled to receive from the employer as a result of this move. The employee must provide this letter to their Maryland Mortgage Program lender at the time they apply for the Maryland Mortgage Program loan so that the lender knows to reserve the BRAC Match assistance in the amount of the $2,500. The assistance amount is $2,500.

Loan Term:30 years
Homebuyer Counseling /
Education Required:
Yes
Owner Occupancy Required:Yes

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.



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