Homeownership for Individuals with Disabilities Program
The Homeownership for Individuals with Disabilities Program is offered through the Maryland Department of Housing and Community Development and is available statewide.
- One of the borrowers is disabled
- One of the borrowers is a guardian for an immediate family member who is disabled (regardless of age) who resides with one of the borrowers and is cared for principally by one of the borrowers
A "Certificate of Disability" completed by a health, mental health, or disability professional is required. All borrowers must meet program eligibility guidelines and the loan must conform to all underwriting criteria. Cosigners are not permitted. Borrowers must be first-time homebuyers unless buying in a targeted area or are a veteran and exercising one-time exemption to first-time homebuyer requirement (must provide copy of DD-214).
Property prohibited from ownership at the time of loan closing includes:
- Any mobile home;
- Raw land;
- A building lot;
- Any principal residence - owned by borrower(s) or spouse/non-borrower;
- A vacation home;
- A rental property;
- An inherited property;
- A commercial property;
- Any jointly held property;
- A cooperative; and
- Any other real property
- Existing or newly constructed home
- Newly constructed homes must be located in Priority Funding Areas
Occupancy implies that the home is located within reasonable proximity of the borrower's place of employment. If the borrower's employment requires the borrower's absence from home a susbstantial amount of time, the following two conditions must be met:
- The borrower must have a history of continuous residence in the community; and
- There must be no indication that the borrower has established, or may be required to establish, principal residence elsewhere.
- An Asset Test Worksheet will be completed for borrowers whose liquid assets equal or exceed 20% of the purchase price of the property.
- A gift in the form of cash or equity is a liquid asset.
- Computations of the Asset Test Worksheet will indicate the eligibility of the loan
- Refer to a list of counseling agencies for one in your area.
- A homeownership counseling certificate must be received by all buyers prior to execution of a contract of sale for a property that will be purchased under this program (contracts of sale that are executed prior to completion of homeownership counseling will not be eligible).
- Counseling certificate may not be more than one year old at the time of closing.
A home inspection is required, which will address fire, safety and health issues.
Maximum Current Annual Household Income:
The total combined income of all members of the household may not exceed $107,000 in Prince George’s County
Maximum Purchase Price:
- $300,000 in Prince George's County
- The representative credit score (middle score of three scores or the lower score of two scores) must be 640 or above.
- Satisfactory credit history required
- Borrowers having no traditional or non-traditional credit history are not eligible
- In the absence of a credit score on the credit report, evidence of acceptable non-traditional qualifying credit, such as a satisfactory rental history, satisfactorily paid utility (cable, telephone, electric and gas) bills, satisfactorily paid insurance (renter’s or car) bills, etc. may be considered
Term: 30 years
- Processing Fee: $1,000.00 (may be financed)
- Minimum Cash Contribution: $500.00 (entire amount can be gifted)
- Mortgage Insurance/Guarantee: Not required
For Addifional Information....
CONTACT: Single Family Housing
Community Development Administration
Maryland Department of Housing and Community Development
7800 Harkins Road, Lanham, MD 20706
P: 301-429-7852 | Toll Free (Maryland Only): 800-638-7781!
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