Maryland Launches Conventional Refinance Product

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For the first time ever, qualified homeowners looking to refinance their mortgage can take advantage of the competitive rates and attractive terms of a new conventional loan product offered through the Maryland Mortgage Program.

This new refinance program expands the diversity of products offered through the Maryland Mortgage Program, the state’s premier homeownership program. It could be an attractive option for homeowners with good credit who may be looking to reduce monthly expenses by refinancing. Information about the 97% LTV Conventional Refinance program can be obtained by contacting one of the many lenders throughout the state that work in partnership with DHCD and the Maryland Mortgage Program.

The Maryland Mortgage Program offers homeownership opportunities for families in many walks of life, including conventional loans insured by private mortgage insurance companies; special opportunities for first-time homebuyers; help for low to moderate income families interested in buying homes in Maryland’s older communities; reduced rates for purchasers of foreclosed and vacant properties owned by DHCD; and special rates and general downpayment and settlement cost assistance for veterans, members of the military and their families. Visit DHCD’s website to learn more.

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