§ 4–813
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 4-813 (2026)
Title 4. Division of Development Finance
Subtitle 8. Maryland Home Financing Program
§ 4–813LinkCopy Citation
(a)
To qualify for a short-term construction loan under § 4-804(2) of this subtitle, a developer or nonprofit sponsor shall:
(1)
provide construction costs, marketing data, and other information the Department requires; and
(2)
have a commitment from the Department under § 4-815(j) of this subtitle for permanent financing for the sale of each residence to be built or rehabilitated with the short-term construction loan.
(b)
To qualify for a short-term loan under § 4-804(3) of this subtitle, a nonprofit sponsor:
(1)
shall provide:
(i)
information on the costs of the proposed undertaking;
(ii)
marketing data; and
(iii)
other information the Department requires; and
(2)
shall have:
(i)
a commitment from the Department for permanent financing for the sale of each residence built or rehabilitated with the short-term loan; or
(ii)
approval from the Department to rent the residence subject to a lease purchase agreement acceptable to the Department.