Loan products

Tandem Loans – SNHS offers secondary mortgages for the amount over 80% of purchase price less down payment, in order to preclude the need for (pmi) mortgage insurance. Property must be owner occupied. If property is within the city limits of Salisbury there is no income restriction. For all other areas, the maximum income is 120% of the area median income. The interest rate may be 2% less than the rate of the first mortgage loan. Maximum loan amount is $45,000 and the maximum term is 20 years. Contact the office for specific details and requirements. Other restrictions may apply.
Closing Cost Loans – Available in Wicomico, Worcester and Somerset County. Closing cost/down-payment assistance loan secured by the property. The maximum loan amount is $15,000 and the maximum term is 10 years. Loans $5,000 or less will have a maximum term of 5 years. Property must be owner occupied and income eligibility restricted to at or below 120% Area Median Income. See below for specific details to county of interest. Other restrictions may apply.

SNHS Home Repair Loans
- Home Repair loans are available to homeowners within the city limits of Salisbury. The current interest rate is 1%. The maximum loan amount is $25,000 unless otherwise approved by the SNHS loan committee. The term is based upon the scope of work, the amount of the loan and affordability of the applicant. View flyer HERE.
State of Maryland Housing Rehab Programs
- MHRP – Maryland Home Rehabilitation Program A State of Maryland (DHCD) – Rehab program packaged by SNHS for homeowners within the city of Salisbury limits. Applicant’s total household income must be below 80% of Area Median Income to be eligible for this program. The interest rate (0-7%) and the terms are set by the State of Maryland based on affordability. Deferred (for 20 years) loans are possible for very low-income (below 50% of Area Median Income) homeowners.
S.T.A.R. – Special Targeted Applicant Rehabilitation Program – A State of Maryland (DHCD) rehab program packaged by SNHS for homeowners within the city of Salisbury limits for extremely low income level households. Applicant’s total household income must generally be below 30% of Area Median Income, or up to 55% of AMI in certain circumstances. Payment is deferred for 20 years.
LHRGLP – Lead Hazard Reduction Grant Loan Program – A State of Maryland (DHCD) rehab program packaged by SNHS for homeowners within most of the city of Salisbury limits (depending upon census tract). Grant or loan approval is made by the State’s DHCD agency based on affordability and equity (or lack thereof).

Construction/Rehabilitation Technical Assistance
- Customer support in understanding the housing rehabilitation process.