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County Commissioners Sign Low-Mortgage Program

July 8th, 2015 by WCBC Radio

The Allegany County Commissioners, during the regular business meeting, signed off on a low-interest mortgage program which will benefit county citizens who meet certain qualifications. David Nedved, an economic/community development representative for the county, provided at overview of the program and pointed out that the income limits are high, opening it up for many area residents. Because Allegany County is a targeted area for the Maryland Mortgage Program, the special loans are available to all prospective homebuyers. The interest rates on the loans range from 2.75 percent to 5.23 percent. The current annual income limits to qualify for the loans are $104,640 for one or two people in a household, with an increase to $122,080 for a family of three or more…


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