Finance
Maryland's transfer tax exemption for first-time homebuyers applies when:
AThe buyer earns less than $50,000
BThe buyer has not owned a principal residence in the past 3 years and is purchasing a principal residence✓ Correct
CThe purchase price is under $200,000
DThe buyer uses FHA financing
Explanation
Maryland exempts first-time homebuyers (who have not owned a home in the past 3 years) purchasing a principal residence from the state portion of the transfer tax.
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