SNHS Closing Cost Loan - Somerset County
SNHS Closing Cost Loan - Somerset County is a repayable second loan for homebuyers in Somerset County, Maryland, administered by Salisbury Neighborhood Housing Services, Inc. (SNHS).
The program asks for
- The home is occupied as a primary residence
- A completed homebuyer education course, through SNHS HUD-certified Homebuyer Education class, required before settlement
- Residency: Property must be in Somerset County, MD
- Repayable (non-forgivable) loan.
- A home in Somerset County
It doesn’t cover
- Households above 120% of area median income
- Homes outside Somerset County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
120% of Somerset County’s area median income
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
Where it applies
Somerset County’s homesSomerset County’s homes, and the ones this program accepts
- 72.9% single-familysingle-family
- 2.1% townhousetownhouse
- 4.7% 2–4 units2–4 units
- 11.9% 5+ unitscondo & apartment buildings (5+ units)
- 8.4% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$173,200
Somerset County median home value
42%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Somerset County
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program, through SNHS HUD-certified Homebuyer Education class, required before settlement.
Contact Salisbury Neighborhood Housing Services, Inc. (SNHS) to reserve funds
Funds are reserved with the provider and are subject to availability.
Work with a lender who handles the program
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.
Questions about this program
What is SNHS Closing Cost Loan - Somerset County?
SNHS Closing Cost Loan - Somerset County is a repayable second loan for homebuyers in Somerset County, Maryland, administered by Salisbury Neighborhood Housing Services, Inc. (SNHS). A closing-cost/down-payment assistance loan from Salisbury Neighborhood Housing Services for homebuyers purchasing in Somerset County, MD. Secured second lien up to $15,000; rate may be up to 2% below the first-mortgage rate. Owner-occupied; household income at or below 120% of Somerset County AMI. Up to $15,000 toward down payment and closing costs. Rate may be 2% below first-mortgage rate. Serves all of Somerset County. Funding comes from SNHS revolving loan funds.
How much assistance does it provide?
SNHS Closing Cost Loan - Somerset County offers up to $15,000 in assistance. Award tiers: Loans <= $5,000: max 5-year term. Loans > $5,000 (up to $15,000): max 10-year term. Amounts are the program's published maximums, not an offer — Salisbury Neighborhood Housing Services, Inc. (SNHS) determines any individual award.
Do you have to pay it back?
SNHS Closing Cost Loan - Somerset County is a repayable second loan and is repaid under the terms set by Salisbury Neighborhood Housing Services, Inc. (SNHS). Repayment is triggered by Amortizing loan; property must remain owner-occupied. The assistance is recorded in Subordinate (second lien behind first mortgage) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
SNHS Closing Cost Loan - Somerset County is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through SNHS HUD-certified Homebuyer Education class, required before settlement. Residency requirement: Property must be in Somerset County, MD. Repayable (non-forgivable) loan.
What are the income limits?
SNHS Closing Cost Loan - Somerset County limits household income to 120% of the area median income, which varies by county and household size. Somerset County 120% AMI 2025: 1p $77,950; 2p $89,100; 3p $100,200; 4p $111,350; 5p $120,250; 6p $129,200; 7p $138,100; 8p $147,000. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.
What kind of home can it be used for?
SNHS Closing Cost Loan - Somerset County can be used for Single Family.
Where does it apply?
SNHS Closing Cost Loan - Somerset County serves homebuyers purchasing in Somerset County, Maryland.
How do you apply?
Applications for SNHS Closing Cost Loan - Somerset County go through Salisbury Neighborhood Housing Services, Inc. (SNHS), 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.
Also for Somerset County homebuyersOther programs open to Somerset County homebuyers
Whether two programs can be combined is up to each agency. Ask before you apply.
All 77 programs for Somerset CountyProgram terms are set by Salisbury Neighborhood Housing Services, Inc. (SNHS) and can change; confirm on the official site before you apply.