• Neville The Closer

Maryland Mortgage Program: Community Partners Incentive

CPIP grants homebuyers using a Maryland Mortgage Program loan more downpayment and/or closing cost assistance than is available through the standard downpayment and closing cost assistance program.

Here are a few points please take note:

  • Homebuyers may use additional incentives totalling more than $2500; Maryland will not match funds greater than $2500.

  • The maximum eligible income for a household of 1 or 2 persons is $115,800.

  • The maximum eligible income for a household of 3 or more persons is $135,100.

  • Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency before writing a sales contract.

  • The home must be the homebuyer’s primary residence.Mortgage loan cannot exceed $525,901.

  • Incentive may be used toward downpayment and closing costs.

  • This is a 0% interest deferred loan (You must repay this loan when you refinance your mortgage, transfer ownership, or sell the home).

  • Homebuyer may not own any other properties, including investment properties, at time of settlement.This incentive may be used in addition to other incentives.

  • Homebuyer must use a Community Development Administration (CDA) mortgage loan.

  • Homebuyer must use an approved lender.

Marymac Mortgage is proud to be an approved lender for the Maryland Mortgage Program. If you have questions please email njones@marymacmortgage.com or click here and APPLY NOW.

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