An eligible borrower: Shall be one or more members of a household who are purchasing, and shall hold title to, an eligible residence in Maryland; Shall be 18 years old or older, unless married to a joint borrower who is 18 years old or older; Shall be a home buyer of eligible income; Shall intend the borrower's primary residence to be the eligible residence for which settlement expenses are financed by the Program; May not have assets or resources, such as savings accounts, checking accounts, certificates of deposit, money market accounts, or other bank accounts, or proceeds from the sale of real property or a mobile home or other personal property, but not including individual retirement accounts or other similar accounts as approved by the Program, which could enable the borrower to pay for the settlement expenses and the minimum down payment required by the first mortgage lender, without assistance from the Program; Shall have legal capacity to incur the obligations of the loan; Shall agree to comply with the requirements established by the Program and with the terms of the loan. If the borrower's first mortgage is made or purchased by the Administration, then after the closing of the Program loan, the borrower may be required by the Administration to participate in a homeownership education program acceptable to the Administration and operated by an agency acceptable to the Administration.