MD Mortgage Program (MMP) Triple Play
First time homebuyers* in Maryland are able to get up to $20,000 in financial assistance to buy a home, but only through the Triple Play Initiative. The Maryland Mortgage Program’s Triple Play Initiative is a collaborative partnership between the PG County DHCD and the State of Maryland and started the latter part of November 2014.
Play #1 - $20,000 Down Payment Assistance – Homebuyers who qualify and are eligible will get the standard $10,000 in down payment assistance as a no-interest, deferred loan. To be eligible for an additional $10,000 grant, buyers must purchase a home in a selected zip code. The grant is immediately forgiven once the loan is closed.
|Lanham 20706||Upper Marlboro 20774, 20772|
|Riverdale 20737||District Heights 20747|
|Bladensburg 20710||Suitland 20746|
|Hyattsville 20784, 20785||Temple Hills 20748|
|Brentwood 20722||Oxon Hill 20743|
|Capitol Heights 20743||Fort Washington 20744|
Play #2 – Interest Rate Discount – Participants will qualify for a 0.25% reduction in interest. That’s interest that is ¼% lower than the standard rate. The loans are 30 year fixed rates.
Play #3 – MD HomeCredit – Homebuyers can utilize a tax credit (up to $2,000) every year for the life of the loan. DHCD fees are waived, but lender fees may still apply.
How to participate?
Your lender will verify your eligibility for an MMP loan. Your credit history, income, employment history will be taken into account. You may be asked to submit additional information.
Complete a Homebuyers Education class. Visit the providers list.
*First time homebuyer requirement waiver may apply for certain buyers.