Maryland: BRAC Closing Help: $7,500

By
Real Estate Agent with Century 21, The Real Estate Centre, 410-665-0200 Office 634480

Maryland: BRAC Closing Help: $7,500

In an effort to ease the transition for families relocating to Maryland because of the military's base relocation and closure initiative (BRAC), the state has created a program which provides closing help assistance.

The Maryland BRAC Mortgage Program enables eligible BRAC homebuyers to receive $2,500in downpayment and/or closing cost assistance.

This can be used in conjunction with other programs such as the Downpayment and Settlement Expense Loan Program (DSELP), whereby the homebuyer may be eligible for an additional $5,000.

There is no need to feel down if you missed the tax credit of about $8,000, as these programs are available now, to provide you with $7,500 in assistance for your home purchase.

BRAC Match Program provides assistance to relocating civilian and military federal employees

Comments (6)

Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Wow, this is a great deal and should help entice buyers coming from Fort Momouth,NJ. !!!!!!!!!!!!

Oct 05, 2010 10:20 AM
Ron Trzcinski, 410-935-5844
Century 21, The Real Estate Centre, 410-665-0200 Office - Nottingham, MD

Michael,

Absolutely, it is a great deal.  If the potential buyers start looking, then they will see that this is a great time to buy, with such assistance programs and with interest rates being near 4 percent.

Oct 06, 2010 05:10 AM
Karen Krzniak
Zenith Realty - Towson, MD

Ron,

This is a great program.  Who needs the tax credit program.  Some people who used it, still do not have their money.

Oct 06, 2010 05:23 AM
Ron Trzcinski, 410-935-5844
Century 21, The Real Estate Centre, 410-665-0200 Office - Nottingham, MD

Karen,

You are right.  Buyers should understand that there are still many incentives to purchase a home.

Oct 08, 2010 07:06 AM
Kathryn Sparks
Zenith Realty - Baltimore, MD

Ron,

If the buyers are not jumping in this market, then they are not really buyers.

Oct 08, 2010 08:23 AM
Ron Trzcinski, 410-935-5844
Century 21, The Real Estate Centre, 410-665-0200 Office - Nottingham, MD

Kathryn,

There is no doubt about that, either that or they just have their heads in the sand.

Oct 08, 2010 10:35 AM