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Queen Anne’s County Department of Community Services, Housing and Community Services is pleased to announce the Moderately Priced Dwelling Unit (MPDU) Second Mortgage Program for moderate-income homebuyers in Queen-Anne’s County. Under this program eligible recipients can receive second mortgage assistance to purchase a home in Queen Anne’s County.

Loans will be awarded to applicants who meet all the criteria in an amount not more than 33 percent of the appraised value of the home or not to exceed $50,000. The home must be located in Queen Anne’s County and must be the applicant’s primary and only property. No payments need to be made on the loan until the property is sold or is no longer the owner’s principal residence at which point the interest free loan is due and payable in full. Once the loan has been paid back, funds become available for another loan.

Approved Applicants Must Have Income That Is 80 percent or less than the area median income as determined by The United States Department Of Housing And Urban Development (HUD). The maximum allowable income limits, as of August 1, 2012, are listed below:

1 person household = $45,000
2 person household = $52,000
3 person household = $58,500
4 person household = $65,000
5 person household = $70,200
6 person household = $75,400
7 person household = $80,600

MPDU Second Mortgage Loans are awarded on a first-come first-served basis with bonus points awarded for (1) Critical Workforce Employees (CWF), and (2) Queen Anne’s County Residents. Critical Workforce Employees are defined as: Volunteer Firefighters, Detention Center Employees, Emergency Medical Technicians, Police and Teachers who are employed by Queen Anne’s County. However all are welcome to apply.

In addition to meeting the allowable income limits, an individual or family may not currently own a home, nor have owned a home within the last five years and they must never have owned a Moderately Priced Dwelling Unit (MPDU) in Maryland or any other state. They must have a good credit rating, steady income, and the home must be affordable for their income. Along with the application process, an individual or family must be able to obtain a pre-qualification letter from a lending institution for an amount not less than the purchase price and remain income eligible up to the time their mortgage is submitted for underwriting. Each eligible person must provide a certificate showing they have completed 6 hours of home ownership counseling.

The initiative is a Queen Anne’s County program funded by developers who opt to pay a fee-in-lieu of actually providing Moderately Priced Dwelling Units (MPDU’s) in new developments. For more information, and to obtain an application, please contact Candice Darling, Housing Program Administrator at (410) 758-3977 x 2070 or visit our website www.qacdhcs.org and click on the MPDU link on the left-hand side.