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What is the Maryland CDA mortgage?  Actually, the Community Development Administration, CDA, part of the State of Maryland Department of Housing & Community Development manages the Maryland Mortgage Program.  This is absolutely a terrific loan program for the 1^st Time Homebuyer.  The program offers very competitive rates and down payment and closing cost assistance through the DSELP (A $3,500.00 Down payment and Settlement Expense Loan Program) and their Partner Match Programs; House Keys 4 Employees (KH4E), Builder/Developer Incentive Program (BDIP), Community Partner Match Program (CPIP) and the Smart Keys 4 Employee Program.  Maryland CDA will match their Partner Programs up to $5,000.00.  If the Maryland buyer also qualifies for the Smart Key Employee Program, the match is doubled to $10,000.00.   Many local jurisdictions also have Maryland 1^st Time Homebuyer assistance programs in place as well.  Combine the MMP and local programs with a possible seller contribution towards closing costs makes this financing the most attractive mortgage for a 1^st Time Homebuyer in Maryland.

Is this a complicated loan to obtain? Absolutely not!!!  The key to the success of this transaction is the experience of the Lender.  At Academy Mortgage, you will work with Loan Officers and an Operations Staff that have years of experience with this program and willing to go the extra mile to insure a smooth and successful transaction.  It’s a great time to buy, especially if you are a Maryland first time homebuyer!