Worcester County Closing Cost / Down Payment Assistance Loan
Worcester County Closing Cost / Down Payment Assistance Loan is a repayable second loan for homebuyers in Worcester 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 Homebuyer Education (free classes quarterly; eHome America online course $100); credit restoration counseling available
- Property must be owner-occupied; complete SNHS homebuyer education; interest rate may be up to 2% below the first mortgage rate. NOTE (gap-finder): exact rate, credit score, and purchase-price cap not published; verify before publishing.
- A home in Worcester County
It doesn’t cover
- Households above 120% of area median income
- Homes outside Worcester 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 Worcester 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
Worcester County’s homesWorcester County’s homes, and the ones this program accepts
- 42.8% single-familysingle-family
- 9.4% townhousetownhouse
- 4% 2–4 units2–4 units
- 38.8% 5+ unitscondo & apartment buildings (5+ units)
- 4.9% 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.
$374,700
Worcester County median home value
36.8%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Worcester County
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program, through SNHS Homebuyer Education (free classes quarterly; eHome America online course $100); credit restoration counseling available.
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 Worcester County Closing Cost / Down Payment Assistance Loan?
Worcester County Closing Cost / Down Payment Assistance Loan is a repayable second loan for homebuyers in Worcester County, Maryland, administered by Salisbury Neighborhood Housing Services, Inc. (SNHS). Salisbury Neighborhood Housing Services administers a closing cost / down-payment assistance loan for homebuyers in Worcester County, Maryland. The loan is secured by the property, with a maximum amount of $15,000 and a maximum term of 10 years (5 years for loans of $5,000 or less). The interest rate may be up to 2% below the rate of the buyer's first mortgage, and household income may not exceed 120% of area median income. The property must be owner-occupied. Up to $15,000 in closing cost and down payment help. Below-market interest rate (up to 2% under first mortgage). Available across Worcester County.
How much assistance does it provide?
Worcester County Closing Cost / Down Payment Assistance Loan offers up to $15,000 in assistance. The program can be combined with other assistance, subject to the rules of each. 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?
Worcester County Closing Cost / Down Payment Assistance Loan is a repayable second loan and is repaid under the terms set by Salisbury Neighborhood Housing Services, Inc. (SNHS). Repayment is triggered by Repayable loan secured by the property; amortized over the loan term. The assistance is recorded in Secured by the property (subordinate lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Worcester County Closing Cost / Down Payment Assistance Loan is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through SNHS Homebuyer Education (free classes quarterly; eHome America online course $100); credit restoration counseling available. Property must be owner-occupied; complete SNHS homebuyer education; interest rate may be up to 2% below the first mortgage rate. NOTE (gap-finder): exact rate, credit score, and purchase-price cap not published; verify before publishing.
What are the income limits?
Worcester County Closing Cost / Down Payment Assistance Loan limits household income to 120% of the area median income, which varies by county and household size. Maximum income is 120% of the area median income for Worcester County. 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?
Worcester County Closing Cost / Down Payment Assistance Loan can be used for Single Family.
Where does it apply?
Worcester County Closing Cost / Down Payment Assistance Loan serves homebuyers purchasing in Worcester County, Maryland.
How do you apply?
Applications for Worcester County Closing Cost / Down Payment Assistance Loan 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 Worcester County homebuyersOther programs open to Worcester County homebuyers
Whether two programs can be combined is up to each agency. Ask before you apply.
All 77 programs for Worcester CountyProgram terms are set by Salisbury Neighborhood Housing Services, Inc. (SNHS) and can change; confirm on the official site before you apply.