Code of Maryland Regulations
Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Subtitle 04 - SPECIAL LOAN PROGRAMS
Chapter 05.04.01 - Maryland Housing Rehabilitation Program - Regular Rehabilitation Program
Section 05.04.01.07-1 - Program Grants
Universal Citation: MD Code Reg 05.04.01.07-1
Current through Register Vol. 51, No. 6, March 22, 2024
A. The Department may make a Program loan in the form of a grant to a single family owner-occupant that meets the requirements of this regulation.
B. To be eligible for a grant, an applicant shall:
(1) Own and occupy the dwelling;
(2) Be a family of very low income; and
(3) Be unable to undertake the rehabilitation project without a grant as determined by the Department.
C. A grant may provide for:
(1) No required payments;
(2) The deferral of payments; or
(3) The reduction of the principal balance owed over a period of time.
D. The Department shall follow Regulations .09 -.15 of this chapter for approving and processing grants.
E. A grant may be unsecured or secured by a security instrument acceptable to the Department.
F. The Department may establish limitations:
(1) On the percentage of allocations and the percentage of the annual funding appropriated to the Program which may be used for grants; and
(2) On the maximum grant amount that may be awarded for a dwelling.
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