Maryland's Lieutenant Governor Wants to Cut Loan Rates for Some Homebuyers

Newman, Emily
May 2003
Bond Buyer;5/2/2003, Vol. 344 Issue 31627, p29
Trade Publication
Maryland lieutenant governor Michael S. Steele has announced plans during the last week of April 2003 to reduce loan interest rates for single-family homebuyers who apply for and are approved by the two of the state's mortgage loan programs. The Community Development Administration (CDA) Maryland Mortgage Program's �More House 4 Less� campaign will offer Maryland homebuyers a mortgage rate of 4.75 percent, down from a range of 5.0 percent to 5.75 percent. The thirteen-year-old program is financed through tax-exempt bonds issued through the Maryland Department of Housing and Community Development. CDA loans are available to low- to moderate-income households who have not owned a home in the past three years.


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