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Contact Us: 301-429-7819 | 800-756-0119 Net Zero Loan Program Net Zero homes are energy efficient homes that produce as much or more energy than they will use. The Maryland Department of Housing and Community Development supports the construction of Net Zero homes tand rehabilitation of Net Zero Ready homes throughout Maryland. Net Zero homes features may include: • Advanced energy efficient design & technology • Renewable energy resources • HERS (Home Energy Rating System) rating of 50 or lower Net Zero Program Loans Available: • Low interest construction loan (available to builders, developers or owners building in Maryland) • Loan enhancements for private construction loan Eligible Projects • New construction • Deep energy retrofits of existing home • Must reach low energy status with HERS (Home Energy Rating System) rating of 50 or lower • Properly zoned for residential use • Must be constructed or rehabilitated in accordance with the applicable Local, State and Federal building codes. Eligible Applicants Qualified to do business in Maryland and have the legal capacity and all necessary authorization to incur the obligation of the loan. Applicants must demonstrate credit worthiness and repayment ability acceptable to the department and demonstrate the ability to complete the project. Application Procedures The Department accepts applications on a first come first serve basis. Applications must be completed in full. All required documentation must be attached at the time of submission. A complete list of required documentation can be found listed on our website (Bank Statements are not acceptable) Construction Loan Details AVAILABLE INTEREST RATES: HERS Score 0-15 (True Net Zero) 2% HERS Score 16-35 (Net Zero Ready) 3% HERS Score 36-50 (Energy Efficient Home) 4% CLOSING FEES: Administration Fee: 1% of total loan Appraisal Fee: $290 (subject to change) Title Fees will be decided by and due to Title Company LOAN TO VALUE (LTV): Up to 90% LOAN ENHANCEMENT: The Net Zero program can provide loan enhancements to applicants interested in securing a loan from a private lender. Terms of the construction loan include a typical 12 month loan period. These are the rates and terms as of May 15th, 2018 and are subject to change. Blower Door Test for Energy Efficiency The loan program supports energy efficient home construction. NET ZERO HOME
