# Local Government (GLG)

## Title 19. Public Debt

### Subtitle 8. Creation of Public Debt -- Financing Residential Mortgages in Cecil County

#### Section 19-806

(a)

  (1) A program shall require a down payment of at least 10% of the purchase price of the dwelling.

  (2)

    (i) The down payment may be in the form of cash or real property owned by a mortgagor on which a dwelling has been constructed.

    (ii) If the down payment is in the form of real property, the property shall be valued at the lesser of its purchase price or appraised value.

(b) An individual mortgage loan authorized under a program may not exceed $90,000.

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Md. Code Ann., Local Gov't (as displayed at mgaleg.maryland.gov, October 16, 2026)