ShareThisCDA/MMP Update Homebuyer Education Requirements!
Effective January 1, 2019, the Maryland Mortgage Program (MMP) standardized their education requirements for all 23 counties and Baltimore City.
The following statewide requirements will be implemented:
*Homebuyer education classes can be any class approved by HUD, Fannie Mae, Freddie Mac, or private mortgage insurers. Classes can be online or in-person, but a dated completion certificate must be issued.
*The class must be completed within 12 months prior to closing. All pre-contract restrictions have been eliminated.
*Homebuyer education completion certificates are transportable across Maryland jurisdictions; a certificate earned in one jurisdiction will qualify for purchase in another jurisdiction.
Very Important! If you are using grant funds from another source, along with the Maryland Mortgage Program (MMP) you must follow the guidelines and requirements for those programs also.
Leave a Comment