You have choices when using the Maryland Mortgage Program in Baltimore City, but choosing between 1st Time Advantage and Flex can feel confusing. You may be weighing down payment assistance, income limits, or whether you count as a first-time buyer. This guide breaks down how each option works, how partner match can boost your funds, and which loan tends to fit common Baltimore City scenarios. Let’s dive in.
MMP basics for Baltimore City
The Maryland Mortgage Program provides a first mortgage for primary residences, often paired with down payment assistance. You work with an MMP‑approved lender, not directly with the state, and you usually complete a homebuyer education course if you use assistance. Program details, limits, and assistance amounts change over time, so you confirm them with your lender and on the official MMP pages.
1st Time Advantage at a glance
1st Time Advantage is designed for buyers who meet the first‑time definition, commonly no ownership in the past three years. The goal is to lower upfront costs and make a 30‑year fixed mortgage more affordable for new buyers. You can often pair this with state down payment assistance, and you typically complete approved homebuyer education before closing.
For Baltimore City purchases, 1st Time Advantage may be the first product to check if you qualify as a first‑time buyer and your income and purchase price fit current limits for the city. This path often aligns well when you plan to layer local Baltimore City assistance.
Flex at a glance
Flex is built for situations where 1st Time Advantage does not fit. If you do not meet the first‑time definition, or you bump up against certain first‑time program caps, Flex is often the next stop. Like 1st Time Advantage, Flex is a first mortgage product offered through MMP lenders and can often be paired with state down payment assistance.
Flex is useful for repeat buyers, buyers returning to homeownership within three years, or buyers whose income or purchase price is outside the first‑time program’s range. Your lender will confirm whether homebuyer education is required when you use assistance.
Down payment help and partner match
Both 1st Time Advantage and Flex can pair with state down payment assistance. Assistance is typically a second lien that helps with down payment and closing costs. The form of help can vary. It may be a grant, a low‑interest second, or a deferred forgivable second. You must live in the home as your primary residence.
Partner match describes combining state MMP assistance with local funds from Baltimore City, nonprofits, or an employer program. The ability to layer funds depends on both the state rules and the local provider’s requirements. Your MMP‑approved lender coordinates the process, verifies allowable stacking, confirms combined maximums, and manages needed documentation. Timing matters. Some local funds have limited allocations and require reservations.
Eligibility points that matter in the city
- First‑time status: 1st Time Advantage targets buyers who have not owned in the last three years. Flex tends to be more permissive for non‑first‑time buyers.
- Income and purchase price caps: Limits vary by location and household size and are updated periodically. Baltimore City limits differ from nearby counties. Ask your lender to confirm today’s numbers.
- Property eligibility: Primary residence only. Typical options include single‑family homes, townhomes, and condos subject to project approval. Investment properties are not eligible.
- Credit and underwriting: Participating lenders apply standard underwriting. Minimum credit scores and debt‑to‑income limits can vary by lender and by whether you use assistance.
- Homebuyer education: Often required when you use down payment assistance.
- Approved lender: You must use an MMP‑approved lender to access these programs.
Which loan fits your situation?
Use these practical rules to narrow your choice:
- If you are a true first‑time buyer: Start with 1st Time Advantage. It often pairs well with state assistance and can stack with eligible Baltimore City or nonprofit funds.
- If you are not a first‑time buyer: Flex is typically the relevant MMP option. It gives you access to the MMP channel and, in many cases, to assistance.
- If you plan to use local city assistance: Either program may work. The local program’s rules sometimes decide which product you must use. Your lender will verify.
- If your income or price is near program caps: Check 1st Time Advantage limits first. If you exceed them, Flex may be the path, subject to current rules.
Quick decision checklist
- Are you a first‑time buyer by the three‑year rule? If yes, evaluate 1st Time Advantage first. If no, evaluate Flex.
- Do you want to stack city, nonprofit, or employer funds? Confirm partner match rules with your lender and the local provider.
- Are you close to income or price limits? Ask your lender to compare both products with today’s Baltimore City caps.
- Are you buying a condo? Start the project approval review early to avoid delays.
Step‑by‑step game plan
- Step 1: Confirm your first‑time status. Have you owned a home in the last three years?
- Step 2: Gather basics. Household size, gross annual income, and your target price range.
- Step 3: Contact an MMP‑approved lender. Ask for a side‑by‑side prescreen of 1st Time Advantage and Flex for a Baltimore City purchase.
- Step 4: Identify local assistance. Explore Baltimore City housing programs, nonprofits, or employer benefits that may partner match with MMP. Confirm stacking, maximums, and timelines.
- Step 5: Complete homebuyer education if assistance is part of your plan.
- Step 6: Get preapproved. Your lender will confirm credit, debt‑to‑income, reserves, and documentation for MMP and any local assistance.
- Step 7: Coordinate timelines. Some local funds require a reservation during contract and underwriting. Start early so funds are available when you need them.
Risks and timing tips
Program details change. Income and purchase price limits, assistance amounts, and stacking rules update throughout the year. Local assistance funds can be limited and first‑come, first‑served, so early application is smart. Lender overlays can vary, which means one lender may approve a scenario that another will not. If you are buying a condo, confirm project approval well before you write an offer.
How we help you move forward
You want clarity, not guesswork. Our team has guided Maryland buyers through changing loan programs for decades. We coordinate with MMP‑approved lenders, help you compare scenarios in plain language, and set a timeline that keeps city or nonprofit assistance on track. You focus on choosing the right home. We help manage the moving parts so your contract, financing, and closing stay aligned.
Connect with The Hulsman Group
If you are ready to compare 1st Time Advantage and Flex for your Baltimore City purchase, let’s talk. Book a Consultation with The Hulsman Group to map the best path, confirm today’s limits, and start your preapproval.
FAQs
What is the Maryland Mortgage Program?
- It is a state program that offers first mortgages for primary residences, often with down payment assistance, delivered through MMP‑approved lenders.
How does partner match work in Baltimore City?
- Partner match means you may combine MMP assistance with local city, nonprofit, or employer funds, subject to each program’s stacking and documentation rules managed by your lender.
Who counts as a first‑time buyer for 1st Time Advantage?
- You are typically a first‑time buyer if you have not owned a home in the past three years; your lender will verify how the rule applies to you.
Can I use an MMP loan for a Baltimore City condo?
- Often yes, if the condo project meets approval requirements; ask your lender to review the project early to avoid closing delays.
How do I find an MMP‑approved lender?
- Ask your agent for introductions to participating lenders or consult the official MMP lender network; only approved lenders can originate these loans.
