Ann Arundel County Maryland’s Mortgage Assistance Program or simply, MAP, provides down payment assistance for first time buyers. Buyers of Laurel real estate can take advantage of this program.
According to the program, a first time home buyer is defined as someone who has not owned a home in the last three years. In addition, a person who is divorced and can prove they have not resided in the property in the last three years.
Depending your need, MAP can provide up to $40,000 in down payment assistance. The money is not a grant. The funds are a zero interest loan that has to be paid back at some point over the next 30 years.
There are certain income requirements for the Mortgage Assistance Program.
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