ANNAPOLIS, Md. — Thanks to Governor Wes Moore, first-time homebuyers are getting a little help.
Moore announced the Maryland Department of Housing and Community Development issued the largest mortgage revenue bond in the agency's history.
The bond, worth $400, generated tax-exempt and taxable bond proceeds that may be used to finance affordable, sustainable mortgage loans.
The Maryland Mortgage Program has provided fixed-rate mortgages primarily to first-time homebuyers for more than 40 years.
All of the bonds were designated as social bonds, meaning the bonds will raise funds for programs and projects that look to achieve positive social outcomes.
“Homeownership is an important foundation for resilient, sustainable communities, providing opportunities for Maryland families to achieve economic independence and build generational wealth, opportunities that must be equitable and accessible for all,” said Maryland Department of Housing and Community Development Secretary Jake Day.
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