Maryland Statutes
Subtitle 8 - Maryland Home Financing Program
Section 4-810 - Eligibility for Loan -- in General

(a)    To qualify for a loan under § 4-804(1)(i), (4), or (5) of this subtitle, an applicant:
        (1)    shall be a member of a household of limited income;
        (2)    on closing of the loan, shall intend to reside in the home to be financed;
        (3)    may not own other property used as the applicant’s personal residence; and
        (4)    in the estimation of the Department, shall lack the financial resources to obtain a private conventional mortgage or to qualify for other departmental loan programs.
    (b)    To qualify for a loan under § 4-804(1)(ii) of this subtitle, an applicant:
        (1)    shall agree in writing to live as an owner-occupant in one of the units of a residential building with no more than four units;
        (2)    shall agree in writing to rent each unit other than the applicant’s unit to a household of limited income; and
        (3)    in the estimation of the Department, shall lack the financial resources to obtain a private conventional mortgage or qualify for other departmental loan programs.
    (c)    To qualify for a loan under § 4-804(2) of this subtitle, an applicant shall agree to sell or rent each dwelling unit constructed or rehabilitated with the proceeds of the loan to a household of limited income.
    (d)    To qualify for a loan under § 4–804(6) of this subtitle, an applicant shall:
        (1)    own and occupy the home as the applicant’s principal residence; and
        (2)    meet the income requirements set by the Department.

Structure Maryland Statutes