Maryland announces mortgage program for active duty and veterans
A $20 million initiative was announced to assist veterans and military families to buy a home. The “You’ve Earned It!” program offers low mortgage and significant down payment assistance.
Governor Larry Hogan was quoted in a press release from the Governor’s office, ““I am very proud of this new initiative, which helps our brave men and women in uniform and their families to achieve the American dream of home ownership and establish roots here in Maryland…The program is not only good for our economy, but good for our communities.”
The “You’ve Earned It!” initiative is a program through the Maryland Mortgage Program. The program offers active duty military (including Reserves and National Guard), honorably discharged veterans and honorably discharged disabled veterans a 2.75% fixed-rate, 30-year mortgage and $10,000 in down-payment assistance. The program is available until the $20 million allocation is exhausted – so hurry!
Purchases must be in one of Maryland’s Sustainable Communities. There is at least one designated Sustainable Community in each of Maryland’s 23 counties and Baltimore City. Find a Maryland Sustainable Community: (www.mdhousing.org/website/programs/dn/communities.aspx);or search by property address (www.bit.ly/dhcd_scmap).
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