§ 4–810
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 4-810 (2026)
Title 4. Division of Development Finance
Subtitle 8. Maryland Home Financing Program
§ 4–810LinkCopy Citation
(a)
To qualify for a loan under § 4-804(1)(i), (4), or (5) of this subtitle, an applicant:
(1)
shall be a member of a household of limited income;
(2)
on closing of the loan, shall intend to reside in the home to be financed;
(3)
may not own other property used as the applicant’s personal residence; and
(4)
in the estimation of the Department, shall lack the financial resources to obtain a private conventional mortgage or to qualify for other departmental loan programs.
(b)
To qualify for a loan under § 4-804(1)(ii) of this subtitle, an applicant:
(1)
shall agree in writing to live as an owner-occupant in one of the units of a residential building with no more than four units;
(2)
shall agree in writing to rent each unit other than the applicant’s unit to a household of limited income; and
(3)
in the estimation of the Department, shall lack the financial resources to obtain a private conventional mortgage or qualify for other departmental loan programs.
(c)
To qualify for a loan under § 4-804(2) of this subtitle, an applicant shall agree to sell or rent each dwelling unit constructed or rehabilitated with the proceeds of the loan to a household of limited income.
(d)
To qualify for a loan under § 4–804(6) of this subtitle, an applicant shall:
(1)
own and occupy the home as the applicant’s principal residence; and
(2)
meet the income requirements set by the Department.