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.
The Plays
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?
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Talk to your lender – He/she will confirm your eligibility and guide you in meeting the requirements. Visit my Partners page or contact me by email or text “MMP Lenders List” to 301-807-0036.
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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.
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Complete a Homebuyers Education class. Visit the providers list.
*First time homebuyer requirement waiver may apply for certain buyers.
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