Maryland has allocated approximately $11.2 million in Prince George's County and $7.5 million in Montgomery County to help provide low-interest loans to moderate-income families.

The money, part of the proceeds from a state bond sale, shortly will be available through private lenders to secure loans of up to $55,000 at 11 percent.

Lenders are taking applications now. To qualify for the loans, families -- depending on size -- must earn no more than $20,000 to $29,000, have resided in Maryland for at least a year and be making their first purchase of a home.

In all, $71 million was made available for the state's loan repurchase program through a revenue bond sale in April. The sale also provided funds for another program administered by the state's community development administration in which the state directly will make mortgages.

The money for the repurchase program is expected to be available through participating lenders by mid-May. The 28 participating lenders statewide will process applications and settle with prospective buyers. The state then will purchase loans that meet the program's requirements.

Under the program, Anne Arundel County will receive approximately $6.7 million; Baltimore City, $13.9 million; and Baltimore County, $12.5 million. Frederick County will receive $1.9 million and Howard County, $1.8 million. The money was allocated to counties based on population.

Lenders participating in the program are:

Baltimore Federal Savings and Loan Association, Bay Mortgage Corp., Cameron-Brown Co., Carroll County Bank and Trust Co., Chesapeake Savings and Loan Association, Colonial Mortgage Service Co., Columbia Bank and Trust Co., Community Savings and Loan Inc. and Equitable Savings and Loan Association Inc.

Also participating are Equitable Trust Co., Fairview Federal Savings and Loan Association, Fidelity Federal Savings and Loan Association, First Federal Savings and Loan Association of Annapolis, First National Bank of Maryland, Hopkins Savings and Loan Association, ICM Mortgage Corp. and John Hanson Savings and Loan Inc.

Other lenders include Maryland Federal Savings and Loan Association, Mercantile Mortgage Corp., Old Court Savings and Loan Inc., James W. Rouse and Co., Ryan Financial Services Inc., Sequoia Savings and Loan Association, Sharon Savings and Loan, Suburban Coastal Corp., United Federal Savings and Loan Association, Unity Mortgage Corp. and Western Pacific Financial Corp.