Refinance Advice to Reduce Monthly Payments in 2026

The Maryland Department of Real Estate and Community Advancement uses multifamily finance programs for the building and rehab of budget-friendly rental housing systems for low to moderate income families, senior residents and people with disabilities. Our multifamily bond programs concerns tax-exempt and taxable revenue home loan bonds to fund the acquisition, preservation and production of budget friendly multifamily rental real estate units in concern financing areas.

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ProgramDescription The purpose of the Multi-Family Bond Program is to increase the building and rehabilitation of multi-family rental housing for families with limited incomes. Tax-exempt and taxable bonds and notes supply below-market and market rate building and permanent financing. Taxable bonds provide market rate building and irreversible funding to take advantage of federal Low-Income Real estate Tax Credits, and to fund projects and activities which are ineligible for tax-exempt bonds.

Awards are based on the criteria detailed in the State's Allotment Plan. The Department's Rental Real estate Funds are composed of a number of programs all of which objective to fix up or create rental real estate.

The function of Rental Housing Works is to produce jobs and reinforce the Maryland economy by providing gap funding for the production and conservation of budget friendly rental real estate funded through the Maryland Department of Housing and Community Advancement's Multifamily Bond Program and Low Earnings Housing Tax Credit Program. Projects funded through the Collaboration Rental Real estate Program normally involve a partnership between State and local governments. The function of the Group Home Program is to help people, qualified minimal collaborations, and not-for-profit companies to construct or get or acquire and customize existing housing to serve as a group home or helped living unit for qualified persons and households with unique housing requirements or to refinance mortgages on existing group homes.

Lots of state real estate finance agencies manage their own grant programs, frequently in partnership with local federal governments or nonprofits. State Housing Finance Agency Grants: Nearly every state uses a main grant, such as Minnesota's Start Up program or Kentucky Housing Corporation's Property buyer Tax Credit. Down Payment Support(DPA) Programs: Options like Colorado's CHFA or CalHFA in California supply grants or forgivable loans.