Article - Housing and Community Development
(a) Proceeds of a Program loan shall be used only for:
(1) property acquisition and development costs for the construction of a net–zero home or low–energy home; and
(2) settlement and closing costs.
(b) A Program loan shall be secured by a mortgage lien that:
(1) may be subordinate to other mortgage liens; and
(2) may include terms, including deferred payment of principal and interest, that the Department considers necessary to make the project viable.
(c) To apply for a loan under this subtitle, an applicant shall submit:
(1) a completed application in a form that the Department requires;
(2) information on projected energy usage, project design, and marketing data; and
(3) any other information or documentation that the Department considers necessary to make a determination on the loan.
(d) The Department may give a preference to an application for:
(1) a net–zero home; or
(2) a project that includes financing from other sources in addition to the Program loan.