Base Realignment and Closure(BRAC)
In November of 2005, a federal law was enacted that requested Maryland to accommodate an important expansion of the United States Military Installations. Several military bases in Maryland are expanding as a result of this new law and in the process creating numerous jobs. An expansion of this magnitude generates not only military jobs but also employment to support the development of these new installations.
The increase of jobs at Fort Meade, the National Naval Medical Center, Andrews Air Force Base, Aberdeen Proving Ground and Fort Detrick brings many benefits to Maryland such as economic growth for our state and new families to enhance our neighborhoods and communities. This is a rewarding and wonderful opportunity for Maryland.
Another effect of this BRAC legislation is that Maryland now becomes home for the nearly 24,000 federal civilian and military families relocated for employment with Department of Defense.
To assist in the purchasing of homes for families relocating to our state, Maryland has initiated several programs and tools. One of these programs offers a new homeownership initiative which makes available $100 million dollars in mortgage loans through the Maryland Mortgage Program to homebuyers. In addition, state interest rates are being lowered to 4.5% putting Maryland's interest rates even with national rates. Periodically grants and other forms of financial aid, specifically engineered to benefit BRAC families, also become available through the state.
For families moving to Maryland, finding a home and a new neighborhood for raising their children can create some anxiety. At Maryland Residential Realty, we overcome these anxieties and help our clients make educated decisions. The support and knowledge given by the realtors at Maryland Residential Realty will dispel any apprehensions and turn the home buying experience into a pleasant and satisfying occasion. Maryland Residential Realty continually remains informed about the latest programs and initiatives offered by the state and the federal government to assist with the purchase of a home. Our realtors have the expertise to guide you through the entire process with ease.
Let Maryland Residential Realty help make Maryland your home.