ShareThisWhat Are The MMP+2% and MMP+3% Programs?
The MMP+ 2% program is a premium priced first mortgage program that offers a first mortgage (at a slightly higher interest rate) that provides borrowers with a 2% closing cost assistance grant. The grant is repayable in full upon sale, transfer, or refinance within the first four years from date of closing; it is completely forgiven after 4 years. The MMP+ 3% is a premium priced first mortgage program that offers a first mortgage (at a slightly higher interest rate) that provides a 3% closing cost assistance grant to borrowers who are purchasing a home through the Maryland Mortgage Program (MMP). This grant also is repayable in full upon sale, transfer, or refinance within the first four years from date of closing; it is completely forgiven after 4 years. Go to www.morehouse4less.com for more information.
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