An eligible borrower shall:
- A. Be one or more members of a household that owns or is purchasing, and shall hold title to, an eligible residence as set forth in Regulation .06 of this chapter;
- B. Be 18 years old or older, unless married to a joint borrower who is 18 years old or older;
- C. Meet income eligibility requirements as may be determined from time to time by the Secretary both for eligible borrowers and for tenants of multi-unit residences financed under the Program in accordance with Housing and Community Development Article, §4-218, Annotated Code of Maryland;
- D. Reside or intend to reside after purchase in an eligible property;
- E. Have legal capacity to incur the obligations of the loan; and
- F. Agree to comply with the loan terms and requirements established by the Administration.
Authority: Housing and Community Development Article, Title 4, Subtitle 2, Annotated Code of Maryland;
Executive Order 01.01.1992.27C
Effective date: January 20, 1992 (19:1 Md. R. 23)
Regulation .02B amended effective July 30, 2007 (34:15 Md. R. 1349)
Regulation .04D, E amended effective July 30, 2007 (34:15 Md. R. 1349)
Regulation .06 amended effective January 2, 1994 (20:25 Md. R. 1941)
Regulation .07A amended effective July 30, 2007 (34:15 Md. R. 1349)
Regulation .08C amended effective July 30, 2007 (34:15 Md. R. 1349)
Regulation .09 amended effective July 30, 2007 (34:15 Md. R. 1349)
Regulation .10A amended effective January 2, 1994 (20:25 Md. R. 1941)