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Find Homeownership Incentives

Veterans Purchase Product

Returning Home Buyer Veteran

Type Of Program

Down Payment & Closing Costs

Program distribution

Deferred Second Mortgage

Program Originator

First Home Mortgage

Amount

$7,500.00

Contact

First Home Mortgage

Blocks

Interest Rate

0.00

Loan Term

5 YEARS

Address
MD
Description

The Veterans Purchase Product provides up to $7,500 in downpayment and/or closing cost assistance for homebuyers in Maryland, with a minimum borrower contribution. This loan is forgivable after 5 years and is only available as a conventional, fixed-rate purchase loan. This loan is ONLY available to homebuyers who are currently serving or have served in the U.S. military, their spouse, or their surviving spouse and all applicants must meet the eligibility requirements. Funds are provided on a first-come, first-served basis until funds are depleted. There is mandatory Homebuying Counseling for borrowers.

Household Income Restrictions

N/A

AMI Limit

Yes

AMI

120% (or below)

Credit Requirement

680+

Max Debt To Income

N/A

Employer Participation Required

No

Must Contribute Amount

No

Requires Inspection

No

Must Earn Counseling Certificate

Yes

Eligibility Limitations

- Available to homebuyers who are currently serving, or have served in the U.S. military, their spouse, or their surviving spouse - Maryland resident - Single-Family Home - Must Earn Counseling Certificate - Credit Score of 680+

Cash Sale Permitted

Yes

Cosigner Permitted

Yes

Owner Financing Permitted

No

Must be Primary Residence

Yes

Program Provider's Contact Name

Contact a Loan Officer

Program Provider's Address

5355 Nottingham Drive, Suite 130 Baltimore, MD 21236

Program Provider's Phone

8779333100

Program Provider's Email

N/A

Home Buyer Obligations

Homebuyers must meet eligibility requirements.