MPDU Settlement Expense Assistance Program

MPDU Settlement Expense Assistance Program is a deferred second loan for homebuyers in Annapolis, Maryland, administered by City of Annapolis, Department of Planning and Zoning (MPDU staff). The MPDU Settlement Expense Assistance Program helps homebuyers with down payment and closing costs associated with the purchase of a Moderately Priced Dwelling Unit (MPDU) home in the City of Annapolis. It provides up to $10,000 as a zero-percent-interest deferred loan requiring no payments, repayable only upon sale, transfer, or after 10 years. Borrowers must hold an MPDU Certificate of Eligibility, complete HUD-certified homeownership counseling, and contribute at least 1% of the sales price from their own funds. Up to $10,000 in down payment and closing-cost assistance. 0% interest. No monthly payments (deferred loan). Forgiven/repaid only on sale, transfer, or after 10 years.

MPDU Settlement Expense Assistance Program offers up to $10,000 in assistance. Homebuyer contribution: Minimum cash contribution of 1% of the sales price from the borrower's own funds. Amounts are the program's published maximums, not an offer — City of Annapolis, Department of Planning and Zoning (MPDU staff) determines any individual award.

MPDU Settlement Expense Assistance Program is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Repayment due upon sale or transfer of the property, or at the end of 10 years, whichever comes first. The assistance is recorded in A lien for the loan amount is placed on the property through a Deed of Trust. position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

MPDU Settlement Expense Assistance Program is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through HUD-certified Homeownership Counseling Program. Buyer must have an MPDU Certificate of Eligibility, be a graduate of a HUD-certified Homeownership Counseling Program, and be prequalified by a lender.

MPDU Settlement Expense Assistance Program can be used for Moderately Priced Dwelling Unit (MPDU).

MPDU Settlement Expense Assistance Program serves homebuyers purchasing in Annapolis, Maryland.

Applications for MPDU Settlement Expense Assistance Program go through City of Annapolis, Department of Planning and Zoning (MPDU staff), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.