A New Chance At The American Dream

A New Door Opens for Maryland Homebuyers as $200 Million Bond Sale Expands Affordable Mortgage Access

For thousands of Maryland renters dreaming of owning a home, a major new investment could turn that dream into reality.

The Maryland Department of Housing and Community Development has issued a $200 million mortgage revenue bond designed to expand access to affordable, sustainable homeownership across the state. The bond sale will fund approximately 700 mortgage loans through the state’s long-standing Maryland Mortgage Program, with a strong focus on first-time buyers and moderate-income households.

Announced in New Carrollton by DHCD Secretary Jake Day, the bond issuance reflects a renewed push by the Moore-Miller Administration to make homeownership more attainable at a time when rising prices and interest rates have kept many families on the sidelines.

“Homeownership is the cornerstone of resilient, sustainable communities and the foundation for economic independence and generational wealth,” Day said, underscoring the state’s commitment to expanding opportunity for Marylanders ready to buy.

For more than 40 years, the Maryland Mortgage Program has served as the state’s flagship homeownership initiative, offering fixed-rate mortgages that provide long-term stability and predictable monthly payments. The program goes beyond traditional loans, offering innovative options such as Maryland SmartBuy, which allows qualified borrowers to eliminate student loan debt as part of the homebuying process, and renovation-friendly mortgages that bundle purchase and remodeling costs into a single loan.

The newly issued bonds—designated as social bonds—allow the state to secure competitive interest rates, translating into meaningful savings for buyers over the life of their mortgage. By leveraging private capital markets alongside limited state funding, the program also expands down payment and closing cost assistance, one of the biggest hurdles for first-time homebuyers.

Partnerships with local governments further strengthen the impact, enabling buyers to combine state and local assistance programs to reduce upfront costs and encourage investment in targeted communities.

Over the past five years, the Maryland Mortgage Program has issued up to $1 billion in mortgage loans annually, helping thousands of families build stability and equity.

For Maryland residents ready to take the next step toward owning a home, this new bond-backed funding represents both opportunity and urgency. Now is the time to explore your options, connect with an approved lender, and see whether the Maryland Mortgage Program can help open the door to your future.