New Disabled Veterans Mortgage Program Offers Big Help to Maryland Vets

Applicants Need to Hurry, Though – Program Ends May 30th

Do you know a disabled military veteran looking to buy a home in this area? The state of Maryland last week announced the creation of a new – and temporary – initiative designed to help such buyers purchase a home using bargain interest rates. Even better, the new mortgage assistance program can be used in conjunction with other state programs that offer down payment and closing cost assistance to veterans. Interest rates for the Maryland Homefront Disabled Veterans Mortgage Program are as low as 3 percent. Up to $5,000 in down payment and closing cost assistance also is available to qualified applicants. Interested homebuyers have to hurry, though. According to information distributed by the Maryland Department of Housing and Community Development, the program is set to expire in two months – May 30, 2014. Program Eligibility The program is open to honorably discharged disabled veterans. By program definition, a disabled veteran is a veteran with a 30 percent or greater disability. Eligible veterans also must qualify for a Maryland Mortgage Program loan, based on such criteria as credit score, income limitations, etc. Before buying their home, eligible veterans must take approved homebuyer education courses and use an approved mortgage lender. Loans under the program typically are limited to first-time homebuyers. However, this requirement can be waived under certain circumstances. Qualification for a Veterans Administration loan is not required. Under the program, the property purchased must be located in the state of Maryland. Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.

Homeownership is Key for Returning Troops, Survey Finds

For 75 percent of military families, owning a home is one of the most important things to accomplish upon returning from service, according to a recent survey of more than 400 military members and their spouses. We at Keller Williams Flagship Realty are proud to have helped hundreds of veterans and active-duty military fulfill their homeownership dreams. For those of you stationed near Ft. Meade, Maryland, our Odenton Keller Williams office is located just two miles from the base at 1216 Annapolis Rd. Odenton, MD 21113. Stop in and see us!

Veterans & Active Duty Personnel: $10,000 Home Buying Assistance Program Ends in June

Maryland initiative provides eligible home buyers generous downpayment and closing cost assistance  

Current and former military personnel thinking of buying a home in Maryland this year should note that a state program offering them up to $10,000 in mortgage assistance is slated to expire June 30.

The Maryland Veterans and Military Family Mortgage Program helps current and former military home buyers purchase a home by offering lower-than-market interest rates and additional downpayment and closing cost assistance up to $10,000.

The program will end June 30 -- or when the $50 million in program funds have been allocated to buyers.

Eligible participants are entitled to assistance that’s in addition to funds available from applicable CDA partner matching programs and assistance from local jurisdictions. It’s a tremendous benefit for eligible home buyers.

The program is open to active duty military (including the Reserves and National Guard) and honorably discharged veterans. Eligible buyers must qualify for a CDA loan using the Maryland Mortgage Program requirements, which take into account a buyer’s credit score, income and other factors.

CDA loans generally are limited to first-time buyers, but this requirement can be waived under certain circumstances. For more information on the program, visit www.mmprogram.org or call Julie Orsini, senior loan officer with Primary Residential Mortgage, Inc. at (410) 370-8304.

Maryland Mortgage Program Flyer

Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.