PURPOSE: To assist homebuyers with financing for settlement/downpayment costs.
SCOPE: Loans are available through Howard County's Department of Housing & Community Development (DHCD) for settlement and downpayment costs. All loans will be deferred, due upon sale of home, refinance, or default. Low interest rates at 2 points below the primary mortgage interest rate. Lenders will process all requests.
ELIGIBILITY: Applicants must meet the following:
HOW TO APPLY:
You may also contact Linda Phillips, SDLP Administrator with the Department of Housing & Community Development at 410-313-6318, option 1, or email@example.com.
All homebuyers participating in the Settlement/Downpayment Loan Program are required to participate in pre-purchase counseling. Certificates are issued to the homebuyer in order to settle on the home purchase.
Funds are currently available and are offered on a first-come, first-serve basis. Interested homebuyers should contact a participating first mortgage lender to begin the application process.
Availability of funds is limited.