Bond Sale Supports Affordable, Sustainable Homeownership for Maryland Homebuyers
$200 million issuance will provide funds for approximately 700 Maryland Mortgage Program loans
NEW CARROLLTON, MD (January 8, 2026) – Maryland Department of Housing and Community Development Secretary Jake Day today announced that the agency has issued a $200 million mortgage revenue bond to support the Maryland Mortgage Program. Issued by the department’s Community Development Administration through the Residential Revenue Bond program, the tax-exempt and taxable bond proceeds will be used to finance approximately 700 affordable mortgage loans.
“Homeownership is the cornerstone of resilient, sustainable communities and the foundation for economic independence and generational wealth,” said Secretary Day. “The Moore-Miller administration is dedicated to making housing more available and affordable, and the Maryland Mortgage Program empowers thousands of Marylanders, primarily first-time buyers, to become homeowners every year.”
The Maryland Mortgage Program has been the state’s flagship homeownership program for more than 40 years, providing fixed-rate mortgages primarily to first-time homebuyers. The program offers an array of mortgage products, including Maryland SmartBuy, the first government mortgage program in the nation designed to eliminate student loan debt as part of the homebuying process, and mortgages paired with FHA Limited 203(k) loans that finance both the purchase and remodeling of a home.
The tax-exempt and taxable interest rates achieved through this bond sale will enable the department to continue to offer Maryland Mortgage Program loans at competitive interest rates, providing annual savings to Maryland homebuyers. The program efficiently uses limited State capital budget appropriation to achieve interest rate subsidies and offer down payment and settlement expense assistance, while leveraging its successful bond issuing program and private capital markets to raise additional down payment assistance resources, helping make homeownership affordable and attainable for thousands of low to moderate-income households annually.
All bonds in the issuance were designated as social bonds, indicating that the bonds will raise funds for programs and projects that seek to achieve positive social outcomes. The financing of mortgage loans for low- and moderate-income families meets sustainable development goals outlined by the International Capital Market Association.
Maryland Mortgage Program partners with other governmental and business entities to help borrowers access additional down payment and closing cost assistance, helping to address one of the biggest barriers for many homebuyers. The program routinely partners with local jurisdictions, combining state and local resources to further reduce costs and incentivize homeownership in targeted areas.
Empowered by a variety of successful products and consistent, effective marketing, the Maryland Mortgage Program has issued up to $1 billion in mortgage loans annually over the past five years.
For more information or to explore mortgage options, visit the Maryland Mortgage Program website.
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