Maryland First Time Home Buyers

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Maryland Home

Why Buy?

Home ownership is considered part of the American Dream. As a first time home buyer, you're probably wondering if all the effort that goes into buying a home is really worth it. The wide range of benefits to home ownership may surprise you.

In addition to the freedom and tax benefits that home owners realize, there are wealth, social and family-related benefits as well. Read about the benefits of Home Ownership in the Renting Section.

In order to make the whole process easier to digest, we've broken it down into 10 easy-to-follow steps, which should make it easy for you to get started. We also provide you with direct access to a real estate agent and a mortgage lender so you can ask questions and get answers. Explore the site and please let us know what you think.

Why Maryland?

Maryland may be one of the nation’s smallest states, but its borders are bursting with beauty, action and diversity. From the Allegany Mountains in the west to the waterfront in Annapolis or Ocean City, recreational opportunities abound. Maryland has Bethesda for great restaurants, the nightlife of the new downtown Silver Spring, and the history of Havre de Grace. Visit Baltimore to catch an Orioles or Ravens game, or visit the Baltimore Zoo or National Aquarium. Shop for antiques in Kensington or Ellicott City or hike the Crescent Trail. No matter what you like to do, Maryland has just what you're looking for. It is also the proud home to some of the country’s most prestigious institutions, including Johns Hopkins, the National Institutes of Health, the United States Naval Academy and the University of Maryland. Maryland is a great place to live. And let's not forget the crab cakes!

Maryland also has several programs that make it easier for you as a first time home buyer to afford your first home. The State of Maryland provides a form called the Maryland First Time Home Buyer Addendum which specifies who is considered a Maryland First Time Home Buyer and what savings they are entitled to when purchasing a home. These savings include an exemption of the State Transfer Tax which is 0.25% of the property sales price. There is also an opportunity to get additional savings including a reduction of 1% of sales price for the County Transfer Tax (Montgomery) and a reduction in $6.90 for every $1000 in sales price. However, these reductions are not guaranteed because they are negotiated as part of your sales contract. Be sure to tell your agent that you are a first time home buyer so you can discuss these options.

Click here to GET STARTED with the 10 Steps to Home Ownership.

Where Do I Start? If the home buying process sounds overwhelming, take a look at our 10 Steps to Home Ownership. These easy-to-follow steps will guide you from pre-approval to moving day.

How Do I Know What I Can Afford? There are many ways to determine your buying power, but the easiest way is to talk with a lender. Contact our Featured Lender to see how much you can comfortably spend on a home.

Tired of Renting and Getting Nothing In Return? Find out how you can benefit from owning a home rather than renting from someone else. The wide range of benefits may surprise you. Visit the Renting Section.

How Do I Find My Dream Home? If you are searching for a home, contact a real estate agent to walk you through the home buying process. Our Featured Agent can help you determine your Needs and Wants and show you the homes that are available now.



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