Settlement Expense Loan Program (SELP)/Closing Cost Program

Settlement Expense Loan Program (SELP)/Closing Cost Program est un second prêt différé pour les futurs propriétaires de Baltimore County, Maryland. Baltimore County's flagship closing-cost DPA: up to $10,000 deferred 15-year-forgivable second for first-time buyers in Community Conservation Areas. 0% interest, no monthly payment. 80% AMI, 5%-of-gross-income buyer contribution. Administered through partner counseling agencies. Up to $10,000 deferred forgivable closing-cost loan from Baltimore County Department of Housing & Community Development for first-time homebuyers purchasing in Baltimore County's designated Community Conservation Areas. Structured as a 0% interest deferred loan, FORGIVEN after 15 YEARS of continuous owner-occupancy as principal residence (full $10,000 due if sold/transferred/defaulted before end of 15-year affordability period). 80% area median income cap (adjusted for household size). First-time homebuyer required (no primary residence in past 3 years). Borrower must have liquid cash equal to 5% of GROSS household income to contribute toward purchase. Administered through Baltimore County's affiliated housing counseling agencies (Diversified Housing Development Inc., GO Northwest, etc.). Pairs with Maryland Mortgage Program (MMP) and other FHA/VA/USDA/conventional first mortgages. Le financement provient de Federal CDBG, Federal HOME et Local Government.

Settlement Expense Loan Program (SELP)/Closing Cost Program est annulé après 15 ans : un futur propriétaire qui reste aussi longtemps n’a rien à rembourser. Le remboursement est déclenché par 15-year forgiveness if owner-occupied as principal residence throughout the 15-year affordability period. If sale/transfer of title/default before end of 15 years, FULL $10,000 becomes due. L’aide est inscrite au rang suivant : 2. Les conditions d’annulation et de remboursement sont fixées par le programme et peuvent changer — vérifiez-les sur la page officielle du programme avant de déposer une demande.

Settlement Expense Loan Program (SELP)/Closing Cost Program est ouvert à les primo-accédants et les futurs propriétaires qui occuperont le logement comme résidence principale. « Primo-accédant » comporte ici des exceptions : Standard 3-year FTHB lookback; HUD displaced-homemaker / single-parent exceptions. Au sujet du crédit, le programme précise : No SELP-published minimum; first-mortgage lender's product minimums apply. Un cours pour futurs propriétaires est obligatoire, auprès de Baltimore County-affiliated HUD-approved housing counseling agencies: Diversified Housing Development, Inc.; GO Northwest Housing Resource Center; St. Ambrose Housing Aid Center; NHS of Baltimore (also serves county clients). Condition de résidence : Property must be in Baltimore County's designated Community Conservation Areas and serve as primary residence. Citoyenneté ou statut d’immigration : Per first-mortgage product rules. First-time homebuyer (no primary residence ownership in past 3 years; HUD displaced-homemaker / single-parent exceptions). Property must be located in Baltimore County's designated Community Conservation Areas (CCAs - older, established communities targeted for revitalization; map available from Baltimore County DHCD/Planning). 80% area median income cap (HUD limits, by household size). Owner-occupied primary residence. Buyer must contribute cash equal to 5% of gross annual household income. 15-year affordability period (forgivable if owner-occupied throughout). $10,000 maximum loan. Pre-purchase counseling certificate from Baltimore County-affiliated agency required.

Settlement Expense Loan Program (SELP)/Closing Cost Program plafonne le revenu du ménage à 80 % du revenu médian de la zone, qui varie selon le comté et la taille du ménage. Household income at or below 80% area median income (HUD), adjusted for household size. Baltimore County uses Baltimore-Towson HMFA limits. Le plafond s’applique au revenu total du ménage, pas seulement à celui de l’emprunteur. Les chiffres du revenu médian de la zone sont publiés par HUD et mis à jour chaque année : consultez le tableau en vigueur pour le comté avant de vous fier à un chiffre.

Settlement Expense Loan Program (SELP)/Closing Cost Program plafonne le prix d’achat ainsi : No SELP-published purchase-price ceiling; subject to first-mortgage limits and MMP purchase-price limits if MMP-paired. Les types de logements admissibles comprennent Single-family detached, Townhome, Rowhouse et Condominium. Les constructions neuves ne sont pas admissibles. Les maisons préfabriquées ne sont pas admissibles.

Settlement Expense Loan Program (SELP)/Closing Cost Program s’adresse aux futurs propriétaires qui achètent à Baltimore County, Maryland. Le programme cible des zones précises : TARGETED AREAS: Baltimore County's designated Community Conservation Areas (CCAs) - older, established communities targeted for revitalization. Includes Dundalk, Essex/Middle River, Catonsville, Lansdowne, Arbutus, Towson core, Pikesville, Randallstown, Woodlawn (older sections), etc. CCA map available from Baltimore County DHCD/Planning.

Les demandes pour Settlement Expense Loan Program (SELP)/Closing Cost Program passent par l’organisme gestionnaire, qui publie les conditions en vigueur et les étapes de la demande sur son propre site. Les fonds sont réservés par l’intermédiaire de Application processed through Baltimore County-affiliated housing counseling agency. First-come, first-served subject to fund availability. Hey Prescott n’est pas un prêteur et n’accepte pas de demandes ; cette page décrit le programme pour qu’un futur propriétaire puisse en parler à un prêteur ou à un conseiller en logement.