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Ryan Ross
Ryan Ross

Home Buying Classes In Maryland __HOT__

The Office of Homeownership offers a variety of incentive programs to homebuyers purchasing in Baltimore City. These incentives can make buying a home more affordable by lowering your closing costs and boosting your downpayment.

home buying classes in maryland

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Offered by Baltimore County, the Settlement Expense Loan Program (SELP) provides financial support to low- and moderate-income, first-time homebuyers. The County government may lend up to $10,000 to income-eligible borrowers to help pay closing costs when buying an existing home within Baltimore County. See the website for more information on eligibility and income limits.

The Department of Housing & Community Development (DHCD) has designed an initiative to promote successful homeownership in Howard County, Maryland. Educational workshops and one-on-one counseling will be offered on a monthly basis to households purchasing a home in Howard County, and/or participating in DHCD's homeownership programs, including, but not limited to, the Settlement Downpayment Loan Program (SDLP) and Moderate Income Housing Unit (MIHU) program. The HUD-approved workshop curriculum is derived from guidelines established by the National Industry Standards for Homeownership and Counseling. Individuals and families interested in purchasing a home in Howard County are invited to attend. To meet HUD requirements, the classes will consist of a 6 hour group workshop and 2 hours of one-on-one counseling for a total of 8 hours. The group workshops will be held one Saturday each month. The 2 hour one-on-one counseling sessions will be scheduled with the credit agency after attending one of the Saturday classes. Registration is required to attend a workshop. Each person attending must be registered. Please scroll down for class dates.

Counselors can also help you determine if you are ready for homeownership, review any credit issues that need to be addressed before applying for a mortgage, and assist with certain homebuying incentive applications (such as the Community Development Block Grant Program (CDBG)). Some agencies offer additional services, such as post-purchase education, default and delinquency counseling, community outreach, and credit and budgeting classes.

The following Homeownership Counseling Agencies have been approved by the U.S. Department of Housing and Urban Development and the Baltimore City Office of Homeownership. Only these agencies can issue Homeownership Counseling Certificates for Baltimore City homebuying incentive programs.

Because homeownership is a more involved process, it is recommended that first-time home buyers attend housing counseling classes. These classes are usually free or low cost, and help people understand the home purchasing process and long-term ownership considerations.

What is housing counseling? A certified housing counselor is a person specially trained to assist individuals and households with their financial matters. Housing counselors can assist in the areas of buying, preventing foreclosure, and refinancing homes.

In addition to the newly launched loan products, the Maryland Mortgage Program offers a wide variety of mortgage products specifically tailored to make homeownership affordable and sustainable, including flexible government and conventional loans that come with various levels and forms of down payment and closing cost assistance and attractive interest rates for both first-time and repeat homebuyers, conventional refinancing and even student debt relief. To learn more and find out which product is right for you, visit and contact a participating lender.

Like other sections of the DC metropolitan area, Frederick County is experiencing rapid population increases, making buying a home challenging. Homes sell in an average of 17 days (as of December 2021)

As you consider your options for buying a home in Maryland, don't forget to explore the nationwide homebuyer programs that are also available to you. For state programs, the most wide-reaching programs will be found through the Maryland Department of Housing and Community Development, which runs the Maryland Mortgage Program and oversees all statewide mortgage assistance.

Many state programs require completion of a first-time homebuyer class, either in person or online, to qualify for mortgage or down payment assistance. There are multiple options throughout Maryland, and the state's website provides details for available classes. Many nonprofit organizations, counseling agencies and local government departments offer housing counseling in multiple languages as well.

Most first-time homebuyer courses will teach you more than just how to apply for a specific mortgage program. Depending on the class, instructors may also cover how to find a real estate agent, establish a monthly housing budget and the ins and outs of the closing process. HUD-approved housing counseling agencies also offer free one-on-one sessions to review your finances, answer questions and help you feel more confident with the next step in the homebuying process.

The median value of a home in Maryland is about $319,000 and current appreciation rate is about 2.75% per year. The average rent is about $1,800 per month and you can buy a $319,000 home using HomeReady 3% Down Payment Program and your payment would be approximately $2,166* per month which is more than the average rent. Try our rent versus own calculator and you may find out buying a home is better than renting when you factor in home appreciation and paydown of principal on every loan payment.

HCI conducts pre- and post-purchase education sessions given by real estate professionals that cover the entire process of buying and successfully maintaining a home in Maryland. HCI also administers the MPDU Orientation session on behalf of the Montgomery County DHCA. These classes are required by many state and county home buyer assistance programs. Home-buyer classes are free but registration is required. Please visit our Schedule and Online Registration.

HomeAbility is offered through the Maryland Department of Housing and Community Development and is available to eligible homebuyers throughout Maryland. Please call Single Family Housing at 301.429.7852 or email for assistance. Here's just a few highlights!

Originally called Workforce Housing Certification (WHC), this program was renamed to avoid some of the unfortunate stigma attached to the term "affordable housing." In some circles, affordable housing is equated to public or subsidized housing. Although voucher programs are important in discussions about housing options, this REALTOR education focuses on first-time and middle income buyers. Maryland REALTORS Housing Affordability and Equal Opportunity Committee found that the term workforce housing was still confusing for some, and undertook the task of evalutaing and improving the program. Now, through an expanded partnership with the State of Maryland, Housing Opportunity Certified REALTORS will have more exposure to consumers through the Maryland Mortgage Program website, and through our own consumer website at

If planning to purchase a home within the Baltimore city limits, then the Baltimore City B-HIP down payment assistance programs could help you close the gap on your home buying dreams. The programs offer between $3,000 and $25,000 towards down payment and closing cost assistance.

The DC Department of Housing and Community Development offers home buying assistance for first-time homebuyers up to $202,000 plus $4,000 for closing cost assistance. The amount of assistance is based on household income and size.

Let our experts help you get back on track to successful home ownership! Our first-time homebuying and financial coaching programs are created to help you overcome the obstacles to owning your own home. Start your journey today.

Did you know there are more than 30 homebuying incentive programs aimed at helping with the purchase of a home in Baltimore City? Live Near Your Work is just one of many opportunities that are available when you buy. Please contact the experts at Live Baltimore to learn about other incentive programs. Live Baltimore is a local nonprofit organization that has a dedicated staff member who can help you explore all incentives, as well as neighborhoods.

Sometimes called pre-purchase counseling or housing counseling, homebuyer education can help you prepare for and make smart decisions during the homebuying journey. For many MMP loans and assistance programs, completing an approved homebuyer education course is a requirement.

Informational sessions will prepare you for the home buying process. Your credit consultant will work with you to find the best mortgage payment to fit your finances. You will learn how to shop for a home, work with a real estate broker, and apply for and close on a mortgage.

The Way Home is a homebuying workshop that attracts hundreds of people each year who are looking to buy a home. Attendees learn about the various mortgage loan programs available to them and come to understand the importance and power of credit.Workshop Videos 041b061a72


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