The new "Maryland Homefront" loans will carry interest rates a quarter of a percent lower than those offered under Maryland Mortgage Program, or about 3.75 percent. That's half the discount of the first Homefront loans announced just before
At the time, the state had reserved
"We developed a program that is sustainable," he said. "The discount is not as deep but it is still a significant difference."
A total of 161 veterans and military families have participated in the program since 2012, according to the state. Homefront borrowers are also eligible for a federal tax credit and other forms of assistance.
(c)2014 The Baltimore Sun
Visit The Baltimore Sun at www.baltimoresun.com
Distributed by MCT Information Services