INTEREST RATES

10:00 AM

Weekly Asset Test Rate:

Conv 6.500 % Please note: File submission review takes up to 3 business days, at all stages.

Govt

6.250 % Conditions add an additional 3 business days per submission

6.125% FNMA Conv 6.625%

6.125% FHLMC Conv 6.625%

6.125% Government 6.625%

7.000% FNMA Conv 7.500%

7.000% FHLMC Conv 7.500%

6.500% Government 7.000%

7.000% FNMA Conv 7.500%

7.000% FHLMC Conv 7.500%

6.500% Government 7.000%

7.125%

6.625%

7.250%

6.750%

6.875%

6.500%

FNMA Conv

6.625% FNMA Conv 7.750%

FHLMC Conv 6.625% FHLMC Conv 7.750%

Government 6.625%

FNMA Conv

6.625%

FHLMC Conv 6.625%

Government 6.625%

FNMA Conv No DPA 7.000%

FHLMC Conv No DPA 7.000%

FNMA Conv 6000 7.000%

FHLMC Conv 6000 7.000%

FNMA Conv 6% 6.875%

FHLMC Conv 6% 6.875%

7.000%

The Annual Percentage Rates (APR)

Can be REPEAT or FIRST-TIME homebuyer

MMP FLEX

Must be FIRST-TIME homebuyer

MMP 1

TIME ADVANTAGE

The Annual Percentage Rates (APRs) quoted on the linked page https://mmp.maryland.gov/Lenders/Documents/APR.pdf represent a typical 30-year fixed rate conventional insured loan on a $200,000

home with the required 3% minimum down payment. The APRs are based on the total amount of interest calculated at the interest rate over the life of the loan, plus Prepaid Finance Charges and the total

amount of any required mortgage insurance charges over the life of the loan. Mortgage insurance charges are based on an annualized rate for mortgage insurance of .85% which is consistent with an HFA

preferred rate for a loan at a 97% LTV. Prepaid Finance Charges include items paid at or before settlement, as permitted by regulation and law, such as loan origination fees, commitment or discount fees

(points), and adjusted interest. This is only an example and the APR may vary from lender to lender depending on the particular circumstances including loan amount, down payment and final transaction

costs. The APR for a conventional uninsured loan (less than or equal to 80% LTV) will be different than the APR for a conventional insured loan. VA APR quoted represent a typical 30-year fixed rate VA-

guaranteed loan on a $200,000 home with no down payment plus a financed 2.15% VA funding fee. FHA APR calculation includes 3.5% down payment on a $200,000 sales price. UFMIP remains at 1.75% and

Annual Renewal premiums are .85%. Annual renewals remain in place for the full term of the loan.

Disclaimer : The terms and conditions are subject to change until the lender locks the loan in Lender Online. A potential borrower should contact an approved lender for further loan information (see

mmp.maryland.gov for a list of approved lenders). In connection with the Maryland Mortgage Program, the Maryland Department of Housing & Community Development makes no promises,

representations or warranties to any party, including any borrower, about the actual benefit a Maryland Mortgage loan might provide in specific situations. Each borrower’s situation is different, and

potential borrowers should seek the advice of a financial advisor, attorney or housing counselor before entering into any loan transaction.

The above rates are subject to change, daily or more frequently. Please contact a participating lender for further details on the APR. Conventional rates cover conventional insured and uninsured loans.

FNMA Conv

FHLMC Conv

Government

For borrowers with ≤50% AMI

Comes with a DPA loan equal to 6% of the total first mortgage

FNMA Conv

FHLMC Conv

Government

HomeStart

FHLMC Conv

Government

Time Advantage 6000

Comes with a $6,000 DPA Loan/

FNMA Conv

FHLMC Conv

Time Advantage 3% Loan

Comes with a DPA loan equal to 3% of the total first mortgage

Flex 6000

Comes with a $6,000 DPA Loan

May utilize Partner Match if applicable

FNMA Conv

May utilize Partner Match if applicable

Time Advantage 4% Loan

Comes with a DPA loan equal to 4% of the total first mortgage

FNMA Conv

FHLMC Conv

Government

Time Advantage 5% Loan

Comes with a DPA loan equal to 5% of the total first mortgage

Government

Flex 3% Loan

Comes with a DPA Loan equal to 3% of the total first mortgage

Government

FHLMC Conv

Maryland HomeAbility

For first-time homebuyers with disability. Special Income Limits apply.

Specialty Loans

For first-time homebuyers with student debt. Conventional Only.

Three DPA Options Available.

For first-time homebuyers with < 50% AMI

Montgomery Employee Down Payment Assistance Loan

MEDPAL is for first-time homebuyers looking to purchase a home in

Montgomery County. Must be employed by certain departments in the

county in order to qualify. Comes with a $25,000 DPA loan.

97% LTVConventional Refinance Program

Existing MMP DPA may be subordinated

Montgomery Homeownership

For first-time homebuyers. Includes a DPA up to 40% of the

borrower income (maximum $25,000)

Maryland SmartBuy

FNMA Conv

No MMP DPA

Flex Direct

No MMP DPA

Time Advantage Direct

Friday, August 30, 2024

WES MOORE, Governor

ARUNA MILLER, Lt. Governor

JACOB R. DAY, Secretary

JULIA GLANZ, Deputy Secretary

mmp.maryland.gov

SingleFamilyHousing.DHCD@maryland.gov

7800 Harkins Road, Lanham, MD 20706