SPECIAL LOAN PROGRAMS
| Amortizing | Deferred |
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| 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 |
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| Annual Sponsor Maximum | $100,000 | N/A | $100,000 |
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| Unit Maximum | $25,000 | $25,000 | $25,000 |
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| Loan Terms | N/A | 0%-7%, 20 Years | 0%, 20 Years |
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| 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 |
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| 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 |
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| Debt-to-Value | N/A | 100% | 100% Exceptions for Owner-Occupant property with lead-affected household |
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| 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. |
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Notes
- Licensed day care centers are eligible to apply.
- Clearance testing is required.
- Unless otherwise noted, the sponsor will be responsible for all fees and charges associated with application and closing.
More Information
CONTACT: Special Loan Programs
Maryland Department of Housing and Community Development
7800 Harkins Road, Lanham, 3rd Floor, MD 20706
E:
DHCD.SpecialLoans@maryland.gov
P: (301) 429-7409 | Toll Free (Maryland Only): 877-218-8101
TTY: 711 or 1-800-735-2258
