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Workforce Homeownership Program
Teachers / Police Officers / EMT's / Active Military
Effective Date September 2007
Home Partnership, Inc., (HPI) a nonprofit dedicated to helping workforce families purchase homes, will
offer incentive loans in targeted communities of Harford County to promote homeownership and stability
of neighborhoods to teachers, police officers, Emergency Medical Technicians (EMT's) and active duty
military families who meet the Federal definition of low and moderate-income.
- Eligibility: HPI will make loans to prospective buyers who are certified and/or contracted to instruct
K-12 classrooms in Harford County, police officers with arrest powers, certified EMTs
working with Harford County Volunteer Fire Department, and active military families,
all who must meet the Federal definition of low and moderate-income (see application). 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 $1,000.00 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
- Terms: Up to $15,000, Zero percent interest, deferred loans, repayable upon sale or
default of loan.
- Locations: Properties located within 21001 and 21040 zip code areas
- Residency: Buyers must live in properties.
- Sales Price: Maximum Contract Sales Price of $200,000.00.
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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