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Workforce Homeownership Program
K-12 Teachers / Police Officers / Volunteer Firefighters / EMT's / Nurses /
Allied Healthcare Workers / Active Military / Civilian Employess of The U.S.
Military
Effective: Revised August 2009
Home Partnership, Inc., (HPI)
a nonprofit dedicated to helping workforce families purchase homes, will offer
incentive loans to families purchasing homes in Harford County to promote
homeownership and stability of neighborhoods to K-12 Teachers, Police Officers,
Emergency Medical Technicians (EMTs), Volunteer Firefighters, Nurses and Allied
Healthcare Workers, Active Military and Civilian Employees of the U.S. Military
who meet income requirements.
- Eligibility: HPI will make loans to prospective buyers who are
employed by the Harford County public school, police officers with arrest
powers, certified EMTs or volunteer fire fighters working with Harford County
Volunteer Fire Department, nurses, Allied healthcare workers, and active
military or civilian employees of the U. S. Military. All must meet income
requirements (see Quick Facts). All must live and work in
Harford County. Loans will require attendance and certification at HPI or HPI
acceptable homebuyer workshop, owner occupancy, and shall be recorded as a lien
against the property, and buyer must contribute $1,000 cash towards closing
costs.
- Uses: Under the HPI Workforce Homeownership Program, eligible
uses of funds shall include settlement costs, renovations or down payment beyond
bank’s minimums. Loans will be recorded against the property, and will be
deferred until sale of the property or default of the loan. A minimum of
one-third (1/3), up to a maximum of one-half (1/2), of funds will be reserved
for major home upgrades to include:
- Kitchen renovations
- Bath or basement renovations
- HVAC: air conditioning & heating
- Replacement windows
- Floors: refinishing, carpeting or tile
- Electric and plumbing upgrades
- Exterior: doors, porch, siding, roof
- Landscaping
- Terms: Up to $15,000, Zero percent interest, deferred loans, repayable upon sale or
default of loan.
- Locations: Harford County
- Residency: Buyers must live in properties.
- Sales Price: Maximum Contract Sales Price of $250,000.00.
Applications available from HPI must be made prior to purchasing properties. Refinancing may require
repayment of loan (check with counselor). Loans may be combined up to a maximum of $23,500. Loan is
recorded as a second mortgage. Acceptable Hornebuying Education Certificate required.
Click here for a printable PDF Application
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