Maryland Mortgage Program

Helping homebuyers in Maryland achieve the dream of homeownership

The Maryland Mortgage Program (MMP) offers great solutions to make homeownership a reality for people who can afford the day-to-day costs of homeownership, but who aren’t able to make a large down payment. This program is offered in conjunction with the Maryland Department of Housing and Community Development.

Programs we offer

SECU offers two MMP loan options to fit your specific needs.

MMP 1st Time Advantage

Must be a first-time homebuyer
Down payment assistance, including no down payment, options available
Conventional and FHA fixed rate options

MMP Flex Loans

Do not have to be a first-time homebuyer
Must purchase in a targeted area
Down payment assistance, including no down payment, options available
Conventional and FHA fixed rate options

CONTACT A MORTGAGE LOAN OFFICER

MMP eligibility requirements

General eligibility

Borrowers should talk to their lender for more information if they have questions about any requirements.

Applicants must be at least 18 years of age and have a valid social security number.
Eligibility details described on this page apply to most available programs.
For any programs with different requirements, precise eligibility guidelines will be identified in program information.
Program eligibility does not guarantee loan approval.

Ownership and occupancy

The MMP can only be used to finance the purchase of a home that will be occupied by the homebuyer(s) as their primary residence.
Homebuyers may not own other residential property.

First-time homebuyers

First-time homebuyer is defined as someone who has not owned residential property for three years or more.
First-time homebuyers who meet household income limits can use the MMP to purchase a home anywhere in Maryland.
Homebuyers purchasing in targeted areas or borrowers using Flex Loan products (without mortgage credit certificates) do not have to be first-time homebuyers.

Household income

Household income is the combined income of all people 18 years of age or over who live in a household.
It includes every form of income, including salaries and wages, retirement income, near cash government transfers like food stamps, and investment gains.
To use the MMP, the total “household income” of homebuyers needs to be at or below certain limits. Those limits vary by location and household size.
Each Maryland county and Baltimore City has defined household income limits.
Household income limits differ inside and outside of “targeted areas.”
Household income limits depend on property location and household size.

Liquid assets

Homebuyers who have liquid assets of at least 20% of the purchase price of the property may not be eligible to use the MMP.
A liquid asset is cash on hand or an asset that can be readily converted to cash. Gifts in the form of cash or equity are generally considered liquid assets.