Prospective Homebuyers In HoCo Can Apply For Help Through Oct. 29 From MIHU

HOWARD COUNTY, MD — Individuals interested in pursuing homeownership have until Oct. 29 to apply for Howard County’s Department of Housing and Community Development moderate income housing unit's October open enrollment period. Applications are available online and completed applications can be submitted either online, mailed to 9820 Patuxent Woods Drive, Suite 224, Columbia, MD, 21046, or dropped off at DHCD’s Patuxent Woods Drive office by appointment only.

New and resale units are available in Laurel, Elkridge, Columbia and Jessup.

"Through our MIHU program, we're expanding opportunities for homeownership and helping more families build wealth and realize their dreams,” Howard County Executive Calvin Ball said. "For many of our residents, purchasing their first home may feel out of reach, but this program is designed to make homeownership a reality for more individuals and families, enable economic mobility, and ensure people of all incomes can call Howard County home."

From DHCD’s “Open Enrollment” website, visitors can also find presentations from previous homeownership and rental informational workshops, as well as frequently asked questions and answers explaining the program’s eligibility requirements and application process. Downpayment and closing cost assistance is available through DHCD’s Settlement Downpayment Loan Program, making homeownership even more affordable for first-time homebuyers.

To purchase an MIHU home, individuals must apply to DHCD during an open enrollment period to be placed in the database. To qualify, an applicant’s household income may not exceed 80 percent of Howard County’s median income (example: maximum $94,184 for a four-person household to as much as $124,323 for an eight-person household). Applicants must meet minimum credit score requirements and household income must be sufficient to qualify for a mortgage based on industry standards. Sale prices for available MIHU homes, currently range from $267,544 for a new condo to $386,938 for a new townhouse. Actual sale prices may vary depending on the size and amenities of the unit.

To rent an MIHU unit, a qualified applicant’s household income may not exceed 60 percent of the Howard County median income (example: maximum $49,447 for a one-person household and $70,638 for a four-person household). MIHUs are rented on a first-come, first-served basis, are interspersed throughout each community and residents enjoy the same amenities of community life as market rate tenants.

Annapolis Junction, Ashbury Courts, Azure Oxford Square, Belmont Station, Brompton House, Burgess Mill Station II, Dartmoor Place, Miller’s Grant, Mission Place, Oakland Place, Orchard Meadows, Orchard Park, Penniman Park, The Refinery, Regency Crest, Townes at Pine Orchard, Verde II at Howard Square, The Vine, and The Wexley @ 100 rental communities are currently participating in the MIHU program. Prospective renters may apply directly to a participating rental community at any time during the year.