Maryland’s housing department said Wednesday a new program will provide an additional $2,500 in home buying assistance to military workers relocating to the state.
The BRAC Match Program enables homebuyers to receive $2,500 in down payment and/or closing cost assistance if purchasing a home through the Maryland Mortgage Program, administered by the state’s Department of Housing and Community Development. The state-run mortgage aid program offers first-time homebuyers a variety of low-interest, fixed-rate loan options.
The BRAC Match Program is available to civilian and military employees of the federal defense agencies that are relocating to Maryland.
The Base Realignment and Closure plan is expected to bring thousands of workers to Maryland from New Jersey and Virginia over the next several years.
The program can be used with other state assistance programs currently available to homebuyers.
In July, the state announced plans to expand the Maryland Mortgage Program ahead of BRAC and provide $100 million in mortgage loans to homebuyers in 10 counties.
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