Maryland Governor Larry Hogan and Secretary Kenneth Holt announced the "You've Earned It!" Initiative through the Maryland Mortgage Program. The initiative is offering a 2.75 percent fixed rate, 30-year mortgage and $10,000 down payment assistance to qualified home buyers with more than $25,000 in student debt.
The MMP “You've Earned It!” program is open to potential homebuyers who are buying a home through the Maryland Mortgage Program in one of Maryland’s “Sustainable Communities”.
Maryland's Sustainable Communities are regions across the state where governments, business and communities coordinate investments to achieve sustainable growth,good jobs and thriving neighborhoods.
The Department of Housing and Community Development (DHCD) has created an interactive online mapping tool to help you identify whether a property is in a Sustainable Community simply by typing in a street address, and printable maps of Sustainable Communities by County are available here.
WHAG channel 25 recently did a news story on the new loan program that will help many recent college graduates get into their first home. The program will only be available for a limmited time or until the funding runs out.
In order to go through the program, you must complete a first home buyers course and go through an approved lender.