Back to News and Events Menu

NEWS RELEASE

September 11, 2007

Media Contacts:

Three Homes Offered through Housing Lottery at “Come Home to Howard County” Housing Fair

ELLICOTT CITY, MD – Howard County’s Department of Housing and Community Development announced today they will be offering three homes for sale to qualified first-time, moderate income homebuyers through a lottery drawing at the next “Come Home to Howard County” Housing Fair on September 29. The fair will be held at Wilde Lake High School, 5460 Trumpeter Road, Columbia. Applicants must be present at the drawing to win.

The three homes being offered for sale are:

• A newly renovated, three bedroom townhome located in the Orchard Club subdivision in Elkridge valued at $250,000, will be offered for $199,000;
• A newly renovated, three bedroom single-family home located in the New Colony subdivision in Elkridge valued at $330,000, will be offered for $192,000; and
• A brand new, three bedroom townhome located in the Cherry Tree subdivision in North Laurel valued at $430,000, will be offered for $140,000.

To make each home affordable, the Howard County Housing Commission will retain a co-ownership interest in the property. For example, the buyer of the Orchard Club townhome will own a 79.6% interest in the property while the Commission retains 20.4% ownership. However, the homebuyer must obtain and pay the mortgage and will otherwise exercise all of the rights and responsibilities of a homeowner.

In order to qualify for the housing lottery, applicants must be a first-time homebuyer, have assets, debts and a credit rating that will permit them to qualify for a mortgage, submit a timely application and be present at the drawing. Applicants must, depending on which unit is selected, have a gross annual household income of a least:

Finally, to qualify applicants must also have a gross annual household income that does not exceed the following limits:

Applications are available online at www.ComeHometoHowardCounty.org and are due by 5:00 p.m. on Friday, September 21, 2007. They may be hand delivered or mailed to the Department of Housing & Community Development at 6751 Columbia Gateway Drive, Columbia, MD, 21046.

For more information, call the Department of Housing and Community Development at 410-313-6318 and ask for Christopher Julien or Linda Phillips, or e-mail either individual at cjulien@howardcountymd.gov or lphillips@howardcountymd.gov.