MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT SPECIAL LOAN PROGRAMS
Grants
Loans
Amortizing
Deferred
Special Requirements
  • Must be in target area or must plan to utilize an innovative lead hazard reduction treatment
  • Underwriting must show no affordability to repay loan or property does not have sufficient value to secure debt
N/A
  • Only if underwriting shows no affordability to repay loan
  • Must be outside target area
Annual Sponsor Maximum
$100,000
N/A
$100,000
Unit Maximum
$15,000
$15,000
$15,000
Loan Terms
N/A
0%-7%, 20 Years
0%, 20 Years
Match Requirement
  • 20% For-Profit sponsor
  • 10% Nonprofit sponsor
  • 10% Owner-Occupants with income above 80% of median
  • N/A Owner-Occupants with limited incomes (i.e. income is less than 80% of median)
N/A
N/A
Fees
  • For-Profit sponsor must pay
  • Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
  • For-Profit sponsor must pay
  • Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
  • For-Profit sponsor must pay
  • Nonprofit sponsor and Owner-Occupants of limited income may include fees in financing
Debt-to-Value
N/A
100%
100%
Exceptions for Owner-Occupant property with lead-affected household
Loan Forgiveness
N/A
N/A
If no equity is available to repay the loan upon resale, transfer or after 20 years, then forgiveness may be considered.
Notes:

  • Licensed day care centers are eligible to apply.

  • Grants and deferred loans may not be combined; however, grants and amortizing loans may be combined.

  • Clearance testing is required.

  • Match requirement cannot be fulfilled with Department funds.

  • The estimated FY 2002 funding level for this program is $642,000.

  • Unless otherwise noted, the sponsor will be responsible for all fees and charges associated with application and closing.