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Harford Settlement Expense Loan Program (SELP)
Harford County Housing Agency
http://www.harfordcountymd.gov/Housing/SELP.html

Program Overview

Harford Settlement Expense Loan Program (SELP) is a program to encourage first-time homebuyers to consider owning a home in existing residential communities in Harford County. Seetlement loans are available to families whose income is a t or below 80% of the area median adjusted for household size. Properties must be located in existing residential communities in Harford County only.

Property Eligibility Requirements

Allowable property types: single-family detached, semi-detached, townhouse, condominium

Benefit Details

Sales price cannot exceed 95% of median purchase price for the areas (FHA 203b limit) or the appraised value of the dwelling. The maximum amount of assistance is $5,000. Benefit: SELP is a loan; interest of 5% is only charged in the first year; loan principal and accrued interest is repayable upon, sale, transfer, refinance, default or if the borrower moves. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: Borrower must complete a homebuyer education curriculum and counseling before signing a real estate contract.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.