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mmp.Maryland

FACT SHEET: MARYLAND SMARTBUY - AFFORDABLE HOMEOWNERSHIP FOR BUYERS WITH STUDENT DEBT For more information, please visit: Single Family Housing - Community Development Administration Maryland Department of Housing and Community Development 7800 Harkins Road Lanham, MD 20706 UPDATED 10/12/2021 SmartBuy enables qualified borrowers with student debt to purchase a program-eligible home in Maryland using conventional financing through the Maryland mortgage Program (MMP) administered by the Community Development Administration (CDA). This product replaces the previous SmartBuy and SmartBuy products.

Oct 12, 2021 · Mortgage Product purchase price will be financed with the first mortgage (30 -year conventional amortizing mortgage loan). The first mortgage will be pooled into a Fannie Mae or Freddie Mac Mortgage Backed Securities (MBS) structure. The second loan (which is NOT a mortgage) consists in a 5 -year forgivable Promissory Note of up

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  Securities, Mortgage, Backed, Purchase, Mortgage backed securities

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