Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services)

What is Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services)?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) is a repayable second loan for homebuyers in Salisbury, Maryland, administered by Salisbury Neighborhood Housing Services, Inc. (SNHS).

• Salisbury Neighborhood Housing Services offers a closing cost / down payment assistance loan to buyers purchasing in Wicomico County. The loan is secured by the property, max $15,000, max term 10 years (5 years for loans of $5,000 or less). Interest rate may be up to 2% below the first mortgage rate.
• Secured second loan up to $15,000 toward down payment and/or closing costs, at an interest rate up to 2% below the first mortgage rate.

How much assistance does it provide?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) offers up to $15,000 in assistance.

• Award tiers: Max loan $15,000; max term 10 years; loans of $5,000 or less have a maximum 5-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?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) is a repayable second loan and is repaid under the terms set by Salisbury Neighborhood Housing Services, Inc. (SNHS).

• Repayment is triggered by Repaid per loan term (secured by the property).
• The assistance is recorded in 2nd position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) limits household income to 120% of the area median income, which varies by county and household size.

• No income restriction within Salisbury city limits. For all other areas of Wicomico County, max income is 120% AMI. 2026 Salisbury-area 120% AMI: 1p $86,500; 2p $98,900; 3p $111,250; 4p $123,600; 5p $133,500; 6p $143,400; 7p $153,250; 8p $163,150.
• The limit applies to total household income, not only the borrower’s.
• 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?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) can be used for single_family, townhouse, and condo.

Where does it apply?

Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) serves buyers purchasing in Salisbury, Maryland.

• The program targets specific areas: Inside Salisbury city limits: no income restriction; rest of Wicomico County: 120% AMI cap.

How do you apply?

Applications for Wicomico County Closing Cost / Down Payment Assistance Loan (Salisbury Neighborhood Housing Services) go through Salisbury Neighborhood Housing Services, Inc. (SNHS), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Salisbury Neighborhood Housing Services, Inc. (SNHS) to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   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 buyer can take it to a lender or housing counselor.