The Maryland Mortgage Program has created HomeAbility, a product to help Maryland residents with disabilities and lower incomes. If you fall into this category, the program could grant you two liens: one lien of up to 80 percent with a 5.25 percent interest rate for your home value; and another, deferred, lien of up to 25 percent to help with your down payment and closing costs (20 percent for down payment and 5 percent for closing costs). The second lien would be granted with a zero percent interest rate and you would only have to make payments on it once your house is sold or refinanced. 

Even better, mortgage insurance is not required for this program. If you don’t want to pay for mortgage insurance, HomeAbility is a great option, because the 20 percent of the lien that will go towards your down payment lien is enough to avoid the insurance. 

Homebuyers must also take a Homebuyer Education class that’s been approved by HUD, Fannie Mae, or Freddie Mac. This will also help you understand the process a little better and get you more prepared and better-equipped! 

Who qualifies?

Here are all the requirements to make sure you’re eligible: 

This is a program aiming to help people with disabilities, so one of the borrowers must have a disability or must reside with and be the guardian and caregiver of someone with a disability. (You must document this with a Certificate of Disability from a health professional, proof of income, or proof of application for disability benefits.) In order to make sure this program helps lower income residents, your individual income must be less than or equal to the Area Median Income limits of your city. For Baltimore, this is $83,200.

A disability and lower income does not have to be a dead end! You can absolutely still see out your dream of homeownership. If you think you qualify and want more info, including the Area Median Income for more cities and a lender list, check out the MMP’s website.