FAQ Rental MPDUs
- How are the prices of for-sale units determined?
Provisions in Chapter 20.30 of the City of Annapolis Code determine the price of homes built under the MPDU Program.
- What is the occupancy period on a for-sale MPDU and what does it mean?
The occupancy period is a set period of time beginning on the settlement date of the initial sale of the MPDU and 30 years into the future (see question 10). If the MPDU is sold within the occupancy period, the home must be sold to another MPDU client at a price determined by the city. This 30-year occupancy period will renew each time the MPDU is sold.
- What other financial means does an applicant need to purchase an MPDU?
To purchase an MPDU, you must be able to qualify for financing and to pay the down payment, settlement and other costs that are necessary to -purchase a home. In addition, you must have a good credit rating. The lender decides if you are qualified for a mortgage.
- What other monthly costs besides a mortgage payment must I pay if I purchase an MPDU?
Your monthly mortgage payment typically includes your homeowner’s insurance payment and your property taxes, in addition to your loan payment. If you purchase a condominium or townhouse, you will be required to pay a monthly condominium fee or a homeowner’s association fee that covers the costs of maintaining the common areas in the development. Some condominium fees may also include part of the utility costs and/or front foot assessments. These fees may range from $100 to more than $500 per month, depending on the property that you purchase. You will be responsible for paying these fees the same as the other property owners in the development.
- What are the requirements for the homebuyer classes?
Before you sign a sales contract , you must complete a home buyers’ education course. When you complete the course, you will receive a “Home Buyer’s Certificate.”
Home Buyers classes are offered through the following agencies:
Arundel Community Development Services, Inc. (ACDS)
2666 Riva Road, Suite 210
Annapolis, MD 21401
Anne Arundel County Economic Opportunity Committee
251 West Street
Annapolis, MD 21401
410-626-1900 ext. 1004
Please contact the agencies above for information on class availability. We will accept Home Buyers Certificates from other organizations which provide HUD certified home buyer classes.