DPA Programs in Maryland

See which program is right for you!

Down Payment Assistance products offered in Maryland include: Maryland Mortgage Programs, Flex Loan Programs, Maryland Smart Buy and Partner Match Programs as well as Within Reach and the Chenoa Program. To see which program may be right for you, get started on your application today!

Available Programs

1st Time Advantage 5000

Availability: Maryland

  • Conventional, FHA, VA and USDA
  • 30-year fixed term with full amortization on the first mortgage
  • Down payment assistance as a deferred 2nd lien up to $5,000
  • First time homebuyer restrictions apply except for target area and some exceptions for honorably discharged veteran who has not previously used the first-time homebuyer exemption
  • 30 year fixed term with full amortization on the first mortgage
  • Homebuyer Education required
  • Income limitations, credit score and purchase price limits may apply

1st Time Advantage 3% Loan

Availability: Maryland

  • 1st lien plus 3% of 1st lien amount in assistance in the form of deferred payments, 2nd lien becomes due when 1st lien is paid off or refinanced
  • Can be Conventional (FNMA or FHLMC), FHA, VA or USDA
  • First time homebuyer restrictions apply except for target area and some exceptions for honorably discharged veteran who has not previously used the first-time homebuyer exemption
  • 30 year fixed term with full amortization on the first mortgage
  • Homebuyer Education required
  • Income limitations, credit score and purchase price limits may apply

Flex Loans Program

Allows qualified individuals who have previously owned a home to use MMP’s range of below-market interest rate mortgage products and comes with different level of down payment and closing cost assistance

Availability: Maryland

Flex 5000

Availability: Maryland

  • 1st lien plus $5,000 in assistance in the form of deferred payments, 0% interest 2nd lien. 2nd lien becomes due when 1st lien is paid off or refinanced
  • Can be Conventional (FNMA or FHLMC), FHA, VA or USDA
  • No first time homebuyer requirement

Flex 3% Loan

Availability: Maryland

  • 1st lien plus 3% of 1st lien amount in assistance in the form of deferred payments, 0% interest 2nd lien. 2nd lien becomes due when 1st lien is paid off or refinanced
  • Can be Conventional (FNMA or FHLMC), FHA, VA or USDA
  • No first time homebuyer requirement
  • Homebuyer Education required
  • Income limitations, credit score and purchase price limits may apply
  • FHA liens only must have FICO scores within the 640-659 range

Flex 3% or 4% Grant

Availability: Maryland

  • 1st lien plus 3% it 4% of 1st lien amount in assistance in the form of grant
  • Grant amount cannot exceed 3% or 4%
  • Can be used for down payment for FHLMC, FHA, VA or USDA
  • Can be used for closing cost if using with FNMA 1st lien
  • FHA loans must have FICO scores within the 640-659 range
  • Income limitations, credit score and purchase price limits may apply
  • Homebuyer Education is required

Maryland Smart Buy

This initiative enables qualified borrowers with student debt to purchase a selected home owned by the Department of Housing and Community Development (the Department) in the state of Maryland, and receive standard financing through the Maryland Mortgage Program administered by the Community Development Administration (CDA). To help manage the overall housing expenses for a borrower who is purchasing a Department-owned property and has an existing student debt (which can be in repayment or deferred status) balance of a minimum of $1,000 and up to a maximum of 15% of the home purchase price. The Department will provide up to 15% of the home purchase price for the borrower to pay off the outstanding student debt. The whole student debt must be entirely paid off at the time of the home purchase. No remaining student loan debt after the loan closing under this program is allowed.

Availability: Maryland

  • 1st mortgage can be FNMA conventional loan only
  • Up to 95% of the sales price will be financed with the first mortgage
  • MMP will provide up to 15% of the home purchase price in assistance to pay off any outstanding student loans in deferment or repayment status
  • Must be a first time homebuyer
  • The second mortgage is a 5-year forgivable loan in the amount of up to 15% of the purchase price; it will be used to pay off the borrower’s outstanding student debt balance at the time of home purchase. The student debt loan must be in the borrower’s name and for the borrower’s education. The second mortgage is a 0% interest deferred loan with no monthly payments, forgivable over 5 years at 20% rate per year on each anniversary date (remainder due upon sale or refinance if the event takes place within the first 5 years from the settlement of the first mortgage).
  • Program requires minimum 5% of sale price in borrower contribution
  • Homebuyer Education required
  • Income limitations, credit score and purchase price limits may apply

Partner Match Program

MMP has partnered with various area Employers/Builders/Developers/Community agencies and matches dollar for dollar participating partner contribution towards down payment and closing costs Partner Match Programs offer additional down payment and/or closing cost assistance for qualified borrowers utilizing a MMP loan. Participating partners provide assistance to borrowers who meet the criteria established by the partner. MMP matches the funds dollar-for-dollar up to a maximum of $2,500 in the form of a 2nd lien, 0% interest deferred loan which is repayable when the home is sold or transferred, or when the first mortgage is paid off or refinanced. Partner Match funds can be combined with basic MMP down payment funds or assistance from other non-MMP programs or jurisdictions

Availability: Maryland

  • Homebuyer Education required
  • Income limitations, credit score and purchase price limits

Within Reach

Availability: Maryland

  • Down payment assistance up to 6% of the note amount
  • 30-year fixed term with full amortization on the first mortgage
  • FHA loan types only
  • Homebuyer education course is required
  • Credit and income restrictions may apply

The CHENOA Fund Program

Availability: Nationwide

  • Down payment assistance up to 3.5% of the purchase price or appraised value
  • 30-year fixed term with full amortization
  • FHA and Conventional
  • Homebuyer education course NOT required
  • Credit and income restrictions may apply

Some program restrictions and requirements apply. The type of DPA and lien position will vary for each loan program. Please contact your On Q Financial, Inc Mortgage Consultant for more information. Loan down payment example is based on a 30 year fixed conventional mortgage loan with 4.0% down (provided through the Down Payment Assistance program). Amounts are based on loan amount of $200,000, interest rate of 4.185%, APR of 5.132%, $6,023 due from borrower at closing ($8,000 down payment paid through down payment assistance program). Approximate monthly payment of $1,465. All amounts shown are estimates provided for educational and comparison purposes only and will vary for each loan. Borrower will be responsible for down payment beyond what is provided by the program as well as any fees and costs associated with the loan. Down payment assistance may come in the form of a forgivable or non-forgivable lien. Income and geographic restrictions apply. Homebuyer education may be required for certain payment assistance programs. Program availability is subject to change without notice. Additional restrictions may apply. Loan amounts and fees will vary based on program used. Loan Amounts on FHA Scenario’s include an FHA 1.75% upfront fee. Loan Amounts on VA scenario’s include a 2.3% VA Funding Fee (Based on Regular Military 1st time usage)-No down payment required unless sales price exceeds appraised value. A USDA Guarantee fee will be charged and financed into the loan. The USDA Guarantee Fee is 1% of the loan amount and the USDA Annual Fee is 0.35% as of 06/01/2018. The USDA Annual Fee is to be paid monthly as part of the mortgage payment. On Q Financial, Inc is an Equal Housing Lender. On Q Financial, Inc.0810200681Y000009oPQC