•  In cooperation with the State of Maryland's Community Development Administration (CDA) we offer the Maryland Mortgage Program, House Keys for Employees and Community partner match program.
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• The state of Maryland also does not collect transfer taxes on the buyers portion when you buy a home if you have not owned a home in Maryland in the previous 3 year period.
• Teachers in Prince George's County receive a discount on the county transfer taxes and Law Enforcement personnel pay no county transfer taxes.  

Highlights of CDA, Maryland Mortgage Program

Low Interest rates on 30 year fixed rate mortgages

4.5% -0 points  

Down Payment & Settlement Expense loan Program (DSELP)
 receive up to $5,000
This is a zero percent, loan that does not require any payback if you stay in the home for 10 years. If you sell,or refinance during the 10 year period the loan payback is 10% less for each year during the 10 year term. For instance, if you sell the home after 7 years then you are given a 70% credit and owe 30% of the assistance amount when you sell.

Community partner match program:
Under this program you can receive up to $2000. The community partner contributes up to $1,000 with a state match of up to $1,000 = total $2000

House Keys for Employees
Under this program you can receive up to $3,500. Participating employers contribute up to $2,500 and the state matches funds up to $1,000 for a total of $3,500

Smart Keys for Employees
This is a part of the House Keys Program, In addition to the funds you can receive with the House Keys program, the Smart Keys program can add an additional $1,000 subject to the following criteria.

These programs can be combined in most cases. The CDA Maryland mortgage program has income limitations and is limited to first time homebuyers or homebuyers who have not owned a home in Maryland within the previous 3 year period.  For more information about first time homebuyer questions please email gharaway@sotrustmtg.com or call Gordon at 301-938-1655.

Happy Home Hunting