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Maryland HomeCredit
All Home Buyers
Allegany County
Anne Arundel County
Baltimore County
Baltimore City
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Tax Credits
A Maryland HomeCredit can save a homebuyer tens of thousands of dollars over the life of a home loan, and makes owning a home more affordable.

Maryland HomeCredit Program


Lower Your Federal Taxes, Every Year, For the Life of Your Loan

A Maryland HomeCredit can save a homebuyer tens of thousands of dollars over the life of a home loan, and makes owning a home more affordable. Together with a home loan through the Maryland Department of Housing and Community Development’s Maryland Mortgage Program, which offers Down Payment Assistance and the certainty of a 30-year fixed interest rate, the State of Maryland is making the dream of sustainable homeownership a reality for more Marylanders than ever.

You may already know about the mortgage interest deduction that most homeowners already claim each year on their federal taxes. The Maryland HomeCredit Program is different, and provides a federal tax credit to eligible homebuyers. A tax deduction reduces the homeowner’s “taxable income”. In contrast, a tax credit, such as the Maryland HomeCredit, provides the homeowner with a reduction in their actual federal tax liability.

The Department’s Maryland HomeCredit Program provides eligible homebuyers with a federal tax credit that may be claimed annually, the value of which is equal to 25% of the value of mortgage interest payments (up to $2,000) paid each year, for the life of the loan (i.e. until payoff, sale, refinance or transfer).

How to Get a Maryland HomeCredit

Homebuyers apply for a Maryland HomeCredit through an approved mortgage lender.  The Lender will confirm the borrowers’ eligibility for this program, and submit an application to the Maryland Department of Housing and Community Development.

Who Can Get a Maryland HomeCredit?

To get a HomeCredit, you must be purchasing a home in Maryland and meet borrowing criteria that include:

  • You must meet the same income limits and home purchase price limits as the Maryland Mortgage Program;
  • You cannot have owned a home during the past three (3) years, UNLESS you are purchasing in a Targeted Area;
  • The home  you purchase must be your primary residence.

NOTE – the Maryland HomeCredit Program is not available for refinances or existing homeowners

For More information: http://mmp.maryland.gov/Pages/MDHomeCredit.aspx

Also visit the Department of Housing and Community Development Maryland Mortgage Program.