Veterans and Military Family Mortgage Program - Maryland

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Veterans and Military Family Mortgage Program - Maryland


PURPOSE: To help current and former military homebuyers to purchase a home by offering a lower-

than-market interest rate and additional downpayment and closing cost assistance.

DURATION: Starting 7/3/2012, the program will continue until 6/30/2013 or until the $50 million of allocated program funds have been committed.


$10,000 of assistance from the CDA Downpayment and Settlement Expense Loan Program (DSELP). This can be combined with funds from applicable CDA Partner Match programs and assistance from local jurisdictions.

LOCATION: Anywhere in the State of Maryland.


o In Non-Targeted Areas:

 The interest rate will be one-half of a percent (.50%) below the prevailing Maryland Mortgage Program (MMP) non-targeted interest rate. Rates are updated daily on the MMP website at

o In Targeted Areas:

 The interest rate will be 2.875% (APR 3.675%) until the $30M Targeted Areas Initiative funds are expended; after that it will be a half of a percent (.50%) below the prevailing MMP rate.


o The program is open to active duty military (including Reserves and National Guard) or honorably discharged veterans. Active duty status will be documented by submission of a current Leave and Earnings Statement (LES) and confirmed through the Department of Defense Manpower Data Center site ( Veteran status will be confirmed by submission of a Certificate of Release or Discharge From Active Duty form (DD-214). Qualification for a VA loan is not required.

o Must qualify for a CDA loan according to the Maryland Mortgage Program (MMP) requirements, i.e. credit score, income limitations, etc. All borrowers must take approved homebuyer education and utilize an approved lender. For more information on general MMP requirements, click on MMP or browse the MMP website at


While CDA loans generally are limited to first-time homebuyers, the requirement is waived if:

o Borrower is purchasing in a targeted area;

o It has been more than three years since borrower has owned a principal residence; or

o Borrower is an honorably discharged veteran who has not previously used the exemption. This is in accordance with the Heroes Earnings Assistance and Relief Tax Act of 2008, as amended. A DD-214 form must be submitted to document veteran status, and a Veteran First Time Homebuyer Exemption form (Attachment V) must be completed.

This blog was provided by the Maryland Association of REALTORS.


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Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy Kelley and Associates


Roy Kelley, Associate Broker

Realty Group Referrals

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message to if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.


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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Roy, This is a great program for the veterans and we have one similar in Tennessee called Affordable Home.

Aug 29, 2012 04:46 PM #1
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

This is great information, Roy and I am sure your area has a lot of verterans living there.  Great program to help those who have served our nation!

Aug 29, 2012 05:39 PM #2
Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®
This is fabulous!! I am all for assisting our soldiers. Past and present.
Aug 29, 2012 06:40 PM #3
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good morning Roy.

It is a great program.

Aug 30, 2012 01:59 AM #4
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks so much for your comments.  It is always good to hear from you.

Have a wonderful holiday weekend.

Pink Chrysanthemum, Longwood Gardens IMG_5390

Photograph by Dolores Kelley using a Canon PowerShot S90 Camera. 

Roy and Dolores Kelley Photographs

Aug 30, 2012 05:32 AM #5
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Roy, this is a wonderful program and I agree with others, we cannot do enough for our soldiers.

Aug 30, 2012 01:13 PM #6
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing


I concur with all the comments.  It is the least we can do for our military.  All the best, A

Aug 30, 2012 02:45 PM #7
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Roy, Thanks for the detailed information about Veterans and Military family mortgage program, Maryland.

Aug 30, 2012 02:55 PM #8
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Your comments are very much appreciated.  Many families will be assisted by this special financing.

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Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Aug 30, 2012 03:21 PM #9
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

What our veterans have done for our country can't be under estimated enough. The have earned the right!

Aug 31, 2012 04:30 AM #10
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