As a General myself :) , let me officially salute Veterans across these United States of America.
We appreciate your service, sacrifice, and comittment.
If you haven't already taken a look at discounts for Veterans across the country this year, please feel free to do so.
In addtion to these perks, there are some great housing benefits that are available to you as well.
We wanted to take the time to review the Maryland Homefront: The Veterans and Military Family Mortgage Program.
KEY FACTS:
- Provides $10,000 of assistance from the CDA Downpayment and Settlement Expense Loan Program (DSELP).
- $50 Million initiative that is designed to assist current and former military persons with the purchase of a home.
- The program is slated to end on June 30, 2013 OR or until the program funds have been expended.
- Funds can be combined with assistance also received from Partner Match programs and assistance from local jurisdictions.
- Qualified veterans who purchase in targeted areas do not have to be first-time homebuyers.
- Provides a lower interest rate in target areas* and non-target areas. Rates are updated daily on the Maryland Mortage Program website.
ELIGIBILITY:
- The program is open to active duty military (including Reserves and National Guard) or honorably discharged veterans. Qualification for a VA loan is not required.
- 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.
*Targeted Areas:
- Allegany County
- Baltimore City
- Caroline County
- Dorchester County
- Garrett County
- Kent County
- Somerset County
- A property tax exemption is available to the following individuals, for their primary residence located in the State of Maryland:
- Veterans who are 100 percent disabled for service-connected causes. The exemption passes to the veteran’s spouse upon his or her death.
- Surviving spouse of active duty military personnel who died in the line of duty
- Surviving spouse of a totally disabled veteran
- Spouse who receives the dependency and indemnity compensation
For more information on the Maryland Mortgage Program or benefits for Veterans in the State of Maryland, feel free to contact us.
Thanks & God Bless,
Tyra
Fight the good fight of the faith. Take hold of the eternal life to which you were called when you made your good confession in the presence of many witnesses. 1 Timothy 6:12
Comments(2)