ShareThisWhat Is DSELP?
DSELP stands for the Downpayment Settlement Expense Loan Program. The program helps eligible borrowers who are purchasing a home with a purchase price of $200,000 or less by funding a portion of their downpayment and closing costs. Individuals or families who are approved to purchase a home using a Maryland Mortgage Program first mortgage loan can apply for DSELP. A purchaser can borrow up to $2,500. DSELP is a deferred loan that is repayable when you payoff or refinance the home or upon sale or transfer of the house. DSELP is available statewide and homebuyer counseling is mandatory for each borrower. For additional information go to www.morehouse4less.com.
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