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The Hogan Administration Honors Four Who Helped the Maryland Mortgage Program Enjoy a Banner Year
Baltimore – RE/MAX was named the top performing real estate agency for the Maryland Mortgage Program in 2015 and Naji Rashid, the owner and CEO of 1st Advantage Real Estate Services, was named the program’s top individual performer at the Commitment to Excellence awards announced Wednesday during the Maryland Housing Conference.
Other Commitment to Excellence honorees include:
- Keller Williams Realty.
- Ellsworth Hughes, D.E. Hughes Realty Co.
The honorees were among the many partners whose contributions helped make 2015 a banner year for the state’s flagship homeownership program.
The Maryland Mortgage Program has been the state’s flagship mortgage purchase program for more than 40 years, offering qualified families a variety of fixed-rate mortgage loan options with low interest rates and generous downpayment and settlement cost assistance. Loans are administered by a network of more than 60 private lending institutions across the state and promoted through Maryland’s growing relationship with the state’s real estate community.
The Maryland Mortgage Program enjoyed its best performance in many years in 2015 and for the first time in its history helped families achieve their dream of homeownership in all 24 jurisdictions in Maryland.
With significant discounts on the program’s low rates and generous down payment assistance, recent Maryland Mortgage Program initiatives expanded opportunities for otherwise qualified families who may have found it hard to save the required down payment and settlement costs in the wake of the Great Recession.
For example, the Maryland Mortgage Program TriplePlay initiative in Prince George’s County helped nearly 400 borrowers purchase homes in areas of the county that had been hard hit by the foreclosure crisis. The program exceeded expectations, more than tripling the average activity in the county and attracting new homeowners from throughout Maryland and other states.
The state continues to offer reduced rates and down payment assistance through programs such as Maryland Homefront for veterans and military families; You’ve Earned It! for those with at least $25,000 in student debt; and the Maryland Grand Slam for potential homeowners in Baltimore City. The Maryland Preferred Rate offers the program’s lowest interest rate for homebuyers who don’t utilize down payment assistance.
Visit the Maryland Department of Housing and Community Developmentwebsite to learn more about the wide array of Maryland Mortgage Program loan products, down payment assistance home buyer education programs and theMaryland HomeCredit Program, a federal mortgage interest tax credit that can save a homebuyer tens of thousands of dollars over the life of their loan.