Military

When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables makes the transfer easier, faster, and less stressful.

Jackie Daley is one of the area's top Military Relocation Specialists and holds the National Association of Realtors Offical Certification for Military Relocation Professionals. The process of relocation can seem overwhelming, but having an agent who understands their client's needs can make the experience as stress-free as posible.

Please Contact us to Obtain the Latest Guidelines and Qualifications for the Following:

Maryland Home Front- For Veterans and Active Military:

PURPOSE: To help current and former military home buyers to purchase a home by offering a lower-than-market interest rate and additional down payment and closing cost assistance.

DOWN PAYMENT AND CLOSING COST ASSISTANCE: $5,000 of Down Payment Assistance (DPA) from the Maryland Mortgage Program in the form of a zero percent deferred loan. This can be combined with funds from applicable MMP Partner Match programs and available assistance from local jurisdictions.

INTEREST RATES: The interest rate is 25 bps (0.25%) below each of the MMP interest rates for conventional and government insured loans. The interest rate reduction cannot be utilized in conjunction with any Regional Specials offered in selected counties. The borrowers can benefit from either a ¼% interest rate reduction as a Maryland Homefront loan OR a ¼% interest rate reduction for a Regional Special.

MARYLAND HOMECREDIT: Can be used in conjunction with Maryland Homefront. As an additional incentive, CDA will waive the fee for the mortgage credit certificate (MCC) associated with a Maryland Homefront loan. Lenders may continue to charge their MCC fee (please refer to Directive 2014-19 for maximum fees). For details about eligibility for the Maryland HomeCredit, visit mmp.maryland.gov/MDHomeCredit

ELIGIBLE MD HOME FRONT BORROWERS:

• The program is open to active duty military (including Reserves and National Guard), honorably discharged veterans, and honorably discharged disabled veterans. 1. Active duty status will be documented by submission of a current Leave and Earnings Statement (LES) and confirmed through the Department of Defense Manpower Data Center site: https://www.dmdc.osd.mil/appj/scra/scraHome.do. 2. Veteran status will be confirmed by submission of a Certificate of Release or Discharge From Active Duty form (DD-214). Qualification for a VA loan is not required.

• Must qualify for Maryland Mortgage Program (MMP) loan, i.e. credit score, income limitations, etc. All borrowers must take approved homebuyer education and utilize an approved lender. For more information on general MMP requirements, go online to: http://mmp.maryland.gov/Lenders/Pages/Fact-Sheets.... or browse the MMP website at http://mmp.maryland.gov.

FIRST TIME HOMEBUYER REQUIREMENTS: While MMP loans generally are limited to First-Time homebuyers, the requirement is waived if:

• Borrower is purchasing in a targeted area (see http://mmp.maryland.gov/Pages/Targeted-Areas.aspx for more information on targeted areas)

• It has been more than three years since borrower has owned a principal residence; or

• Borrower is an honorably discharged veteran who has not previously used the first-time homebuyer exemption. This is in accordance with the Heroes Earnings Assistance and Relief Tax Act of 2008, as amended. A DD-214 form must be submitted to document veteran status, and a Veteran First Time Homebuyer Exemption form (Attachment V) must be completed.

BRAC MATCH PROGRAM:

In support of the state of Maryland's effort to welcome families who are relocating to Maryland as a result of the 2005 Base Realignment and Closure (BRAC), the Maryland Department of Housing and Community Development (DHCD) has created the BRAC Match Program. The BRAC Match Program enables eligible homebuyers who are using a Maryland Mortgage Program loan to purchase a home to receive an additional $2,500 for downpayment and/or closing cost assistance. The $2,500 is available in the form of a zero percent deferred loan that is repayable at the time of sale, transfer of the home, or upon refinance of the Maryland Mortgage Program loan. -The BRAC is available to federal employees (both civilian and military) of the federal defense agencies that are relocating to Maryland due to 2005 BRAC decisions and other relocation activities. The program is also open to the employees of the defense contractors who support those agencies.