{"id":8962,"date":"2016-12-01T10:28:40","date_gmt":"2016-12-01T15:28:40","guid":{"rendered":"http:\/\/news.maryland.gov\/dhcd\/?p=8962"},"modified":"2016-12-01T10:28:40","modified_gmt":"2016-12-01T15:28:40","slug":"maryland-department-of-housing-and-community-development-partners-with-wicomico-county-for-new-homeownership-initiative","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2016\/12\/01\/maryland-department-of-housing-and-community-development-partners-with-wicomico-county-for-new-homeownership-initiative\/","title":{"rendered":"Maryland Department of Housing and Community Development  Partners With Wicomico County for New Homeownership Initiative"},"content":{"rendered":"<p style=\"text-align: center\"><b>Maryland Department of Housing and Community Development <\/b><b>Partners With Wicomico County for New Homeownership Initiative<\/b><\/p>\n<p style=\"text-align: center\"><i><span style=\"font-weight: 400\">Maryland NewBuild will provide incentives to purchase newly-constructed homes in the county<\/span><\/i><\/p>\n<p><b>NEW CARROLLTON, Md.<\/b><span style=\"font-weight: 400\"> (<\/span><b>December 1, 2016) <\/b><span style=\"font-weight: 400\">\u2013 The Maryland Department of Housing and Community Development has partnered with Wicomico County to launch a new homeownership initiative through the Maryland Mortgage program. \u00a0Maryland NewBuild will provide incentives to homebuyers purchasing newly constructed homes in the county, including reduced interest rates on Maryland Mortgage loans. \u00a0The initiative will be available to Wicomico County homebuyers for one year, running until December 1, 2017.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe are proud to partner with Wicomico County to support and encourage homeownership through Maryland NewBuild,\u201d said Maryland Department of Housing and Community Development Secretary Kenneth C. Holt. \u00a0\u201cThe combination of incentives and the stability of a mortgage backed by the State of Maryland makes this an ideal time for potential homebuyers in the county to explore their purchasing options through this initiative.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Through Maryland NewBuild, Wicomico County homebuyers purchasing newly constructed homes in designated Priority Funding Areas can receive:<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A 0.25% interest rate reduction on a fixed-rate Maryland Mortgage loan;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">$5,000 in downpayment assistance through a 0% deferred loan;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Mortgage Credit Certificates and tax credit savings through the Maryland Homecredit Program, and;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A waiver from Wicomico County for the impact fees associated with the newly-constructed single family homes.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The complete package of incentives is intended to keep the price of the homes low, generate cash resources for homebuyers at closing, and provide increased purchasing ability for participating homebuyers through mortgage loan cost savings.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe are pleased to be a part of such a meaningful opportunity for our citizens to become homeowners and partnering with Maryland Department of Housing and Community Development\u201d said Wicomico County Executive Bob Culver.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Potential homebuyers are subject to household income limits and must meet standard qualifications under the Maryland Mortgage program, including completion of homebuyer education. \u00a0Created over 30 years ago, the Maryland Mortgage program is the state\u2019s flagship homeownership assistance program, providing fixed-rate mortgages, primarily to first-time homebuyers, along with other down payment and closing cost incentives. \u00a0For more information, visit <\/span><a href=\"http:\/\/mmp.maryland.gov\/NewBuild\"><span style=\"font-weight: 400\">http:\/\/mmp.maryland.gov\/NewBuild<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p style=\"text-align: center\"><b># # #<\/b><\/p>\n<p style=\"text-align: center\"><b>CONTACT:<\/b><span style=\"font-weight: 400\"> Sara Luell, Director of Communications, <\/span><a href=\"mailto:sara.luell@maryland.gov\"><span style=\"font-weight: 400\">sara.luell@maryland.gov<\/span><\/a><span style=\"font-weight: 400\">, <\/span><span style=\"font-weight: 400\">301-429-7803 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maryland Department of Housing and Community Development Partners With Wicomico County for New Homeownership Initiative Maryland NewBuild will provide incentives to purchase newly-constructed homes in the county NEW CARROLLTON, Md. (December 1, 2016) \u2013 The Maryland Department of Housing and Community Development has partnered with Wicomico County to launch a new homeownership initiative through the<a href=\"https:\/\/news.maryland.gov\/dhcd\/2016\/12\/01\/maryland-department-of-housing-and-community-development-partners-with-wicomico-county-for-new-homeownership-initiative\/\">&nbsp;&nbsp;Read the Rest&#8230;<\/a><\/p>\n","protected":false},"author":129,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16,23,33],"tags":[],"class_list":["post-8962","post","type-post","status-publish","format-standard","hentry","category-homeownership","category-maryland-mortgage-program","category-press-releases"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/8962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/129"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=8962"}],"version-history":[{"count":2,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/8962\/revisions"}],"predecessor-version":[{"id":8964,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/8962\/revisions\/8964"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=8962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=8962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=8962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}