Closing Cost and Down Payment Programs
Settlement Expense Loan Program
The Settlement Expense Loan Program (SELP) provides assistance to low and moderate income, first-time homebuyers. The County can lend up to $10,000 to income-eligible purchasers to help pay down payment and closing costs required in the purchase of an existing home within the designated Community Conservation Areas of Baltimore County.
Assistance from SELP is in the form of a deferred loan that is forgivable if the homeowner occupies the property as their principal residence during the period of affordability as required by the HOME Investment Partnerships Act regulations. The period of affordability is 15 years.
How to Apply
You must first attend a First Time Home Buyers Workshop. Call 410-887-3124 for a schedule of Workshops and their locations.
After attending the workshop, you must also make an appointment for individual financial counseling with a housing counselor. This will all be explained at the Home Buyers Workshop. You are not eligible for a SELP loan if you already have a signed contract to buy a house.
Housing Counseling Affiliates
Candidates can apply for either SELP through Baltimore County’s housing counseling affiliates:
Belair-Edison Neighborhoods, Inc (BENI) provides free homebuyer education (workshops) and counseling.
Address: 3412 Belair Road, Baltimore, Maryland 21213
Diversified Housing Development, Inc. (DHD) provides free homebuyer education (workshops), homebuyer counseling and foreclosure counseling.
Address: 8025 Liberty Road, Windsor Mill, Maryland 21244
Eastside Community Development Corporation, Inc. provides free homebuyers education (workshops), homebuyer counseling, financial literacy counseling and foreclosure counseling.
Address: Eastpoint Mall, 7835 Eastern Avenue, Suite 302, Baltimore, Maryland 21224
Harbel Housing Partnership provides free homebuyer education (workshops), homebuyers counseling and counseling to senior homeowners and renters.
Address: 5807 Harford Road, Baltimore, Maryland 21214
St. Ambrose Housing Aid Center provides free homebuyers education (workshops), homebuyer counseling, financial literacy counseling, foreclosure counseling and legal assistance to low income and senior residents of Baltimore County.
Address: 321 East 25th Street, Baltimore, Maryland 21218
The Maryland Mortgage Program (MMP) provides assistance through its Down payment and Settlement Expense Loan Program (DSELP) provided the applicant has been approved for a Community Development Administration (CDA) loan.