NEW CARROLLTON, Md.– The Maryland Department of Housing and Community Development’s Maryland Mortgage Program today announced the launch of two new loan products to provide higher levels of down payment and closing cost assistance. The Maryland Mortgage Program has been the state’s flagship homeownership program for over 40 years, and, for the past three years, has averaged over $1 billion in home loan reservations, helping more than 5,000 Marylanders get into their dream home each year.

“In this challenging housing climate, when interest rates are increasing and affordable housing inventory is low, resulting in higher purchase prices, homebuyers need more down payment assistance,” said Secretary Kenneth C. Holt. “Our Maryland Mortgage Program is nationally-recognized for the diversification of our product line, and we are constantly evaluating new products that can give Marylanders the best possible options to attain and sustain homeownership.”

The new 1st Time Advantage 5% Loan and 1st Time Advantage 4% Loan products offer down payment and closing cost assistance equal to 5% or 4% of the first mortgage, respectively, and are 0% deferred for up to 30 years, meaning new homebuyers will not need to pay back the assistance until selling or refinancing their home.

In addition to the newly launched loan products, the Maryland Mortgage Program offers a wide variety of mortgage products specifically tailored to make homeownership affordable and sustainable, including flexible financing government and conventional loans that come with various levels and forms of down payment and closing cost assistance and attractive interest rates for both first-time and repeat homebuyers, conventional refinancing, and even student debt relief. To learn more and find out which product is right for you, visit and contact a participating lender.

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