HARRY HUGHES, Governor                                      3647

(a)  If an individual applying for a loan is married and
lives with the spouse, both spouses shall apply.

(b)  Except as provided in [subsection (c)] SUBSECTIONS (C)
AND (D) of this section to qualify for a loan, an applicant:

(1)  Shall have been domiciled in this State for at
least 1 year before filing the application;

(2)  Shall intend to live in the home to be financed;

(3)  May not own any other property used or usable as
a residence as of the time of closing;

(4)  May not be financially able to obtain a private
mortgage or otherwise to finance the purchase; and

(5)  Shall be within the limits on adjusted annual
income set by the Department.

(c)  The domicile requirement may be satisfied by either of
two spouses applying for a loan.

(D) TO QUALIFY FOR A LOAN, A GROUP HOME SPONSOR:

(1)  SHALL PROVIDE A GROUP HOME WHICH IS TO BE
OCCUPIED IN SUBSTANTIAL PART BY INDIVIDUALS OR FAMILIES WITHIN
THE LIMITS OF ADJUSTED ANNUAL INCOME MAXIMUM INCOME LIMITS SET BY
THE DEPARTMENT; AND

(2)  SHALL DEMONSTRATE THE CAPACITY TO MANAGE THE
GROUP HOME, PROVIDE NECESSARY SERVICES, AND REPAY THE LOAN.

13-313.

On application for a loan, the Department shall consider the
financial resources available to the applicant to finance the
purchase of the home OR GROUP HOME. The Department may not
approve a loan if it reasonably appears that the applicant has
sufficient down payment or could be expected to otherwise finance
the purchase.

13-315.

(a) As to each loan, the Department may set:

(1)  The principal amount;

(2)  The maturity, which may not exceed 40 years;

[and]

(3)  The preferred interest rate; AND

(4)  THE REPAYMENT TERMS; AND