The Board of County Commissioners last week approved enrollment in the Maryland Department of Housing and Community Development's "On Behalf of Local Governments" housing program, designed to aid first-time home buyers.
The initiative is a state bond issue used to promote home ownership. The program offers local governments opportunities to partner with the state to either provide mortgage financing for first-time buyers or to help revitalize older communities.
A total of $5,609,891 in bond authorization has been allocated to the Department of Housing and Community Development for the program, which is dubbed Maryland Mortgage. More information is available at http://www.mmprogram.org
To qualify, applicants must be within the federal income limits and purchase a home for no more than $429,620.
For households with one or two members, the maximum household income allowed is $101,400. For households of three or more members, the maximum allowable income is $118,300.
The county's authorization is an agreement for the state to administer the funds for 2012.
The first 60 days — Sept. 1 through Oct. 31 — will be for exclusive use of Carroll County citizens. Funds not used within that 60-day period revert to a statewide pool, available to all eligible applicants on a first-come, first-served basis.
For more information, contact Rita Zimmerman of the county's Department of Citizen Services, at 410-386-3600.