# Housing and Community Development (GHS)

## Title 4. Division of Development Finance

### Subtitle 2. Community Development Administration

#### Section 4-203

(a) To attract and retain teachers in the State by increasing homeownership opportunities, the General Assembly finds that there is a need to authorize the Department to develop a program to dedicate up to $25,000,000 over 5 years to provide mortgage loans to teachers at interest rates below the prevailing interest rate for similar programs.

(b)

  (1) A mortgage loan under this section shall be available to a teacher who is a first-time home buyer.

  (2) The loan shall be conditioned on an agreement by the teacher to teach in the State for at least 3 years if work is available for the teacher.

  (3) The loan shall be used to purchase property in a priority funding area as defined in Sec.Sec. 5-7B-02 and 5-7B-03 of the State Finance and Procurement Article.

(c) The Administration shall develop the program in consultation with:

  (1) the State Department of Education, to ensure that the program is consistent with the State's strategy to attract and retain teachers; and

  (2) local boards of education, to ensure that the program is properly marketed.

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Md. Code Ann., Hous. & Cmty. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)