The Maryland Homeowner Assistance Fund (HAF) and HAF WholeHome programs ended September 18, 2023. Applications are no longer being accepted as the funding has been completely allocated to homeowners and the federal funding for this program has ended.
Program Overview
The Maryland Homeowner Assistance Fund can help homeowners struggling with their mortgage payments or other housing costs due to the COVID-19 pandemic. This financial assistance will be in cooperation with the loss mitigation tools that will be provided by mortgage servicers.
The program will create a long-term sustainable and affordable mortgage as opposed to short-term assistance without a clear outcome.
For additional eligibility requirements, including income limits, see
Maryland Homeowner Assistance Fund Factsheet
Maryland Homeowner Assistance Fund Loan
Designed to offer a one-time payment of a delinquent mortgage amount and/or additional funds to facilitate a principal curtailment or rate reduction to right size ongoing mortgage payments to levels affordable to the homeowner.
Most mortgage servicers will work with their borrowers who are exiting forbearance or are in default. Servicers will generally utilize standardized loss mitigation strategies to lower monthly borrower obligations by 20%. The Homeowner Assistance Fund Mortgage Loan expands the servicers ability to help the homeowner avoid foreclosure or displacement for the long-term. This assistance will create mortgage payments that are sustainable to the homeowner’s “new normal.” The program now offers financial assistance in the form of up to 6-month forward payments for eligible mortgages.
Eligibility
- Eligible financial hardship after January 21, 2020
- 150% of area median income
- Maryland homeowners
- Home owners residing in their primary residence
- Homeowners by evidence by the deed of trust
Terms
- Recorded lien
- $40,000 Maximum Loan Amount
- 0% interest
- Deferred payments for the life of the first mortgage
- Payment due in full when the first mortgage ends (repayment, refinance, transfer, sale)
- Repayment is subject to review and the department may, based on homebuyer situation and needs at the time of repayment:
- Require payment in full
- Establish a payment plan
- Allow full or partial forgiveness
For additional eligibility requirements, including income limits, see Maryland Homeowner Assistance Fund Loan Factsheet
Maryland Homeowner Assistance Fund Grant
Designed to avoid imminent displacement (within 90-days) due to, but not limited to property tax delinquency, chattel loan or land lease delinquency; homeowners association fee / condominium association fee delinquency; mortgage delinquency.
Eligibility
- Eligible financial hardship after January 21, 2020
- 100% of AMI
- Maryland homeowners
- Homeowners residing in their primary residence
- Homeowners by evidence by the deed of trust
Terms
- Grant – no instrument recorded
- Maximum assistance - $20,000
For additional eligibility requirements, including income limits, see Maryland Homeowner Assistance Fund Grant Factsheet
Maryland Homeowner Assistance Fund Plan
The department submitted the
Maryland Homeowner Assistance Fund Plan to the U.S. Treasury via their application portal on July 30, 2021.
For the most updated information on program implementation, visit
homeownerassistance.maryland.gov.
Servicer Resources
