{"data":{"id":"us-md/md.-code-housing-and-community-development-4-813","jurisdiction":"us-md","citation":"Md. Code, Housing and Community Development § 4–813","heading":"","body":"(a) To qualify for a short-term construction loan under § 4-804(2) of this subtitle, a developer or nonprofit sponsor shall:\n(1) provide construction costs, marketing data, and other information the Department requires; and\n(2) have a commitment from the Department under § 4-815(j) of this subtitle for permanent financing for the sale of each residence to be built or rehabilitated with the short-term construction loan.\n(b) To qualify for a short-term loan under § 4-804(3) of this subtitle, a nonprofit sponsor:\n(1) shall provide:\n(i) information on the costs of the proposed undertaking;\n(ii) marketing data; and\n(iii) other information the Department requires; and\n(2) shall have:\n(i) a commitment from the Department for permanent financing for the sale of each residence built or rehabilitated with the short-term loan; or\n(ii) approval from the Department to rent the residence subject to a lease purchase agreement acceptable to the Department.","path":["Article - Housing and Community Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=ghs\u0026section=4-813","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:07Z","sha256":"941db48043bbe168ebf4158e5a0db36738e48bb1193f5602280780c158388b4f","source_id":"us-md","stale":false,"prev":"us-md/md.-code-housing-and-community-development-4-812","next":"us-md/md.-code-housing-and-community-development-4-814"},"notice":"GroundRules: Original legal text. Not legal advice."}