BRAC Match Program
In support of the State of Maryland's effort to welcome families
who are relocating to Maryland as a result of the 2005 Base Realignment and
Closure (BRAC), the Maryland Department of Housing and Community Development
(DHCD) has created the BRAC Match Program. The BRAC Match Program enables
eligible homebuyers who are using a Maryland Mortgage Program loan to purchase
a home to receive an additional $2,500 for downpayment and/or closing cost
assistance. The $2,500 is available in the form of a zero percent deferred loan
that is repayable at the time of sale, transfer of the home, or upon refinance
of the Maryland Mortgage Program loan. The BRAC Match can be combined with
other assistance that may be available through any of DHCD's standard
downpayment and closing cost assistance programs.
The BRAC Match Program
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The BRAC Match is available to federal employees (both civilian and military)
of the federal defense agencies that are relocating to Maryland due to 2005
BRAC decisions and other relocation activities. The program is also open to the
employees of the defense contractors who support those agencies.
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Relocating federal employees, if they meet the criteria as required by the
relocating agency, are entitled to be reimbursed for a variety of expenses by
their employer incurred as a result of a Permanent Change of Station (PCS). The
assistance the employer offers is provided on a reimbursable basis; therefore,
the employee must incur the expenses and then submit the appropriate
documentation in order to be reimbursed for the allowable expenses. Relocation
and home purchase assistance that may be provided by defense contractors will
range by company.
Participation Requirements for Federal Agencies and Employees:
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In order for eligible employees to access the BRAC Match Program, employees of
federal defense agencies relocating to Maryland because of 2005 BRAC decisions
or other employer relocation activities must present a copy of their relocation
orders (such as their PCS Orders – DD Form 1614) that reflect eligibility for
relocation related real estate expenses and services to their Maryland Mortgage
Program lender at the time they apply for the Maryland Mortgage Program loan so
that the lender knows to reserve the BRAC Match assistance in the amount of the
$2,500.
Participation Requirements for Defense Contractors and Employees:
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Defense contractors must provide their employee with a letter ("Contractor's
Letter") stating that the employee's move is due to 2005 BRAC decisions or the
relocation of other federal defense agency activities to Maryland. The letter
must describe the type of relocation or home purchasing assistance that the
employee is entitled to receive from the employer as a result of this move. The
employee must provide this letter to their Maryland Mortgage Program lender at
the time they apply for the Maryland Mortgage Program loan so that the lender
knows to reserve the BRAC Match assistance in the amount of the $2,500. The
Contractor's Letter will be the only documentation that will be needed by the
lender in order for them to reserve the BRAC Match funds.