{"id":10009,"date":"2020-02-10T11:48:35","date_gmt":"2020-02-10T16:48:35","guid":{"rendered":"http:\/\/news.maryland.gov\/dhcd\/?p=10009"},"modified":"2020-02-10T11:48:35","modified_gmt":"2020-02-10T16:48:35","slug":"governor-hogan-announces-record-milestone-of-1-billion-in-mortgages-through-maryland-mortgage-program-in-2019","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2020\/02\/10\/governor-hogan-announces-record-milestone-of-1-billion-in-mortgages-through-maryland-mortgage-program-in-2019\/","title":{"rendered":"Governor Hogan Announces Record Milestone of $1 Billion in Mortgages Through Maryland Mortgage Program in 2019"},"content":{"rendered":"

Governor Hogan Announces Record Milestone of $1 Billion in Mortgages Through Maryland Mortgage Program in 2019
\n<\/strong>New High for State\u2019s Flagship Homeownership Program<\/span><\/em><\/p>\n

ANNAPOLIS, MD\u2014<\/strong>Governor Larry Hogan today announced that the Maryland Department of Housing and Community Development\u2019s Maryland Mortgage Program reached a record $1 billion in reservations for the program in 2019, representing more than 4,000 homebuyers. This is a 12-month period high for the history of the program. The Maryland Mortgage Program provides fixed-rate mortgages that come with downpayment and closing cost assistance, tax incentives, and student debt relief available through the popular Maryland SmartBuy initiative.<\/p>\n

\u201cHomeownership is the backbone of strong communities,\u201d said Governor Hogan. \u201cOur administration has been focused on growing this program to ensure more young people and hardworking families are able to put down roots in the great State of Maryland.\u201d<\/p>\n

The Maryland Mortgage Program\u2019s attractive interest rates have helped drive demand for this record-breaking year. Additional factors for this success include product changes, improvements to operations, and an aggressive marketing strategy, including the rollout of program-specific\u00a0Facebook<\/a>,\u00a0Twitter<\/a>\u00a0and\u00a0Instagram<\/a>\u00a0accounts. The program\u2019s business development team has helped grow the program from 80 participating lenders last year to 118 lenders that borrowers can now choose from. A partnership with the state association, Maryland REALTORS, as well as local associations statewide has resulted in a greater awareness of the program among homebuyers.<\/p>\n

\u201cWe have dramatically increased production, meaning more residents are using these great benefits to secure a future here in Maryland,\u201d said Secretary Kenneth C. Holt. \u201cThe majority of the Maryland Mortgage Program\u2019s resources come from the sale of bonds, not the state\u2019s budget, so this highly successful program is funded and managed with virtually no cost to Maryland\u2019s taxpayers.\u201d<\/p>\n

Secretary Holt marked the milestone at the department\u2019s annual event honoring its top-performing partners in Annapolis. The program recognized top-producing lenders and loan officers, as well as the top individual real estate agent and companies. For a list of award winners and photos from the event visit\u00a0here<\/a>.<\/span><\/p>\n

The Maryland Mortgage Program has been the state\u2019s flagship homeownership program for more than 35 years. Under the Hogan administration, the Maryland Mortgage Program has provided over $2.8 billion in mortgages to more than 13,000 Marylanders and eliminated more than $11 million in student debt for first-time homebuyers. For more information, visit\u00a0http:\/\/mmp.maryland.gov<\/a>.<\/p>\n

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MEDIA CONTACTS:<\/div>\n
<\/div>\n
<\/div>\n
Owen McEvoy, Director of the Office of Public Information
\nowen.mcevoy@maryland.gov<\/a>, 443-679-7653<\/div>\n
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Sara Luell, Director of Communications
\nsara.luell@maryland.gov<\/a>, 301-429-7803<\/div>\n","protected":false},"excerpt":{"rendered":"

Governor Hogan Announces Record Milestone of $1 Billion in Mortgages Through Maryland Mortgage Program in 2019 New High for State\u2019s Flagship Homeownership Program ANNAPOLIS, MD\u2014Governor Larry Hogan today announced that the Maryland Department of Housing and Community Development\u2019s Maryland Mortgage Program reached a record $1 billion in reservations for the program in 2019, representing more  Read the Rest…<\/a><\/p>\n","protected":false},"author":128,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[46,16,23,33,165,166],"tags":[],"class_list":["post-10009","post","type-post","status-publish","format-standard","hentry","category-governor-hogan","category-homeownership","category-maryland-mortgage-program","category-press-releases","category-smartbuy","category-smartbuy-maryland-mortgage-program"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/128"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=10009"}],"version-history":[{"count":2,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10009\/revisions"}],"predecessor-version":[{"id":10011,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10009\/revisions\/10011"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=10009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=10009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=10009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}