Baltimore County Down Payment and Settlement Expense Loan Program
- Downpayment & Closing Cost Assistance
- Baltimore County
Summary
The Down Payment and Settlement Expense Loan Program (DSELP) in Baltimore County provides assistance to eligible homebuyers to help fund a portion of their closing costs when they purchase a home using a CDA first mortgage loan [5]. The program provides a 0 percent deferred second mortgage loan to cover settlement expenses. Eligibility is based on income, and income-eligible purchasers can borrow up to $10,000 to help pay closing costs required in the purchase of an existing home within the designated Community Conservation Areas of Baltimore County.
Eligibility Requirements
- The applicant(s) must attend a First Time Homebuyer Two-Part Class and a Workshop.
- The applicant(s) must also make an appointment for individual financial counseling with a housing counselor.
- The application for the loan must be approved prior to submitting an offer on a property.
- The applicant(s) must meet low to modern income requirements.
- The applicant(s) must be a first-time homebuyer.
Contact Information
Baltimore County Department of Planning
111 West Chesapeake Avenue, Suite 300
Towson, Maryland 21204
Phone: 410-887-3124
Email: homeownership@baltimorecountymd.gov