Home Buying Incentives

State and City incentive programs require housing counseling prior to signing a sales contract for your new home. Click here to sign up.

 

For BALTIMORE CITY Home Buyers

Baltimore City Employee Homeownership Program

This program is designed to assist employees of the City of Baltimore to become homeowners within the city limits.  All employees of Baltimore City’s agencies and quasi-agencies working for a minimum of 6 month can get $3,000 for down payment and closing assistance with no annual income limits.  Property must be located in Baltimore City in an eligible neighborhood. An additional $750 is given for homes purchased in Healthy Neighborhoods target blocks. Click here for a list. Buyer must contribute at least $1,000 towards purchase and must use the property as the principal residence.

Contact: Marva Allette 410-396-3124 for more information.

Buying Into Baltimore

Buying Into Baltimore is a $5,000 incentive to use toward buying a home anywhere in Baltimore City. You must attend a Buying Into Baltimore event to become eligible for the $5,000 incentive. You must be one of the first 30 people to sign a contract of sale on a home within 90 days of attending the Buying Into Baltimore event. Click here for more information.

C.A.R.E. Housing Incentive Program (CHIP) through Johns Hopkins Live Near Your Work

The C.A.R.E Housing Incentive Program (CHIP) makes living near work an exciting possibility for Johns Hopkins employees, and now offers a reward to those who wish to make one of East Baltimore’s most sought-after neighborhoods home.

This Johns Hopkins Live Near Your Work (LNYW) incentive provides four (4) $31,000 incentives and four (4) $26,000 incentives for a limited time only on a first come, first served basis. Click here for details.

CBDG Homeownership Assistance Program

Baltimore Housing’s Homeownership Assistance Program is a $5,000 five-year forgivable loan to first-time homebuyers to assist with downpayment and settlement expenses. Homebuyer’s family income must be 80 percent or below the area median income. Home buyer must be a first-time homebuyer. Property must be the homebuyer’s primary residence. The forgivable loan is 0% interest and the balance is forgivable by 20% each year for five years.

Contact: Marva Allette 410-396-3124 for more information.

Good Neighbor Next Door (Teacher Next Door / Officer Next Door)

Law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters/emergency medical technicians are eligible for a discount of 50% from the list price of a HUD-owned home. In return you must commit to live in the property for 36 months as your primary residence. Eligible single-family homes are listed exclusively for sale through the GNND program. Eligible homebuyers do not need to be first-time homebuyers, but cannot own any other real estate at time of sales offer. Eligible homebuyers must be employed full-time and must be employed by the government where the home is located.

For more information, call 410.962.2520 or visit www.hud.gov

Johns Hopkins Live Near Your Work

Employees of Johns Hopkins University and Johns Hopkins Medical System are eligible for the expanded Johns Hopkins Live Near Your Work program. Click here for more information and to see the target map.

Employees of Johns Hopkins University and Johns Hopkins Medical System that purchase in the CARE neighborhood can receive $26,000 toward the purchase of their new home!

Live Near Your Work

The Baltimore City Live Near Your Work Program is a partnership between employers and the City of Baltimore to encourage homeownership near the place of employment. This program provides direct financial assistance for eligible employees’ in Baltimore City. Eligible employees must be making their first home purchase. Baltimore City will contribute up to $1,000 per employee, which will be matched by the participating employer.  Buyers are required to contribute a minimum of $1,000 cash toward the purchase of their home.  Buyer must occupy the property as primary residence.
For a list of participating employers, click here.

Project REINVEST

As a result of the U.S. Department of Justice settlement with Bank of America, NHS Baltimore provides eligible homebuyers with up to $10,500 of down payment assistance 0% interest deferred loan to buyers purchasing in Baltimore City. Assistance is not limited to first-time buyers. Home Buyers must meet income guidelines and be the owner-occupant of the home.  Homebuyers must use an approved lender.  Reference the website to find the names of the participating lender institutions. http://www.nhsbaltimore.org/lift/index.php

Maryland Mortgage Program (CDA)

The State of Maryland offers a loan program (commonly referred to as CDA loans) that let you finance the purchase of a new home with below-market, fixed interest rates. The CDA mortgage is available for homes in priority funding areas. The home must be occupied as a principal residence-no investment property is eligible.

For more information, click here.

Downpayment and Settlement Expense Loan Program (DSELP)

The State of Maryland offers downpayment and closing cost assistance commonly referred to as DSELP. Individuals or families who are approved to purchase a home using a CDA first mortgage loan (see above) can apply for a DSELP. DSELP is a deferred loan that is repayable when you payoff or refinance the home or upon sale or transfer of the house you financed through CDA. DSELP can provide up to $5,000.

For more information, click here.

Vacants to Value

An initiative by Baltimore Housing to sell vacant property to homeowners. Property must be a city-designated vacant for at least one year. This includes City-owned property as well as privately-held homes that have been cited as vacant by Baltimore Housing.

  • Vacants to Value Booster Program. Provides $7,500 in downpayment and closing cost assistance to the first 50 buyers of Vacants to Value properties in 16 eligible neighborhoods. Incentive is a 5-year forgivable loan. No income limit, buyer does not have to be a first-time homebuyer
  • Good Neighbors Incentive. $5,000 is available to City employees who buy Vacants to Value homes through the Good Neighbors Incentive.
  • Live Near Your Work. The City will match participating employers up to $3,000 (total $6,000) when employees buy a Vacants to Value house.
  • Homeownership Assistance Program. Income eligible families may receive $5,000 in home buying assistance; buyers of Vacants to Value properties have a priority use of this program.
  • Newly Constructed Dwelling Property Tax Credit. The first buyer of a newly constructed or substantially rehabilitated vacant house can receive a 50% reduction in property taxes in year one reducing to 10% reduction in year five.

Contact Baltimore Housing at 410.396.4109 or click here.

For a full explanation of Baltimore Housing incentives, click here.


 

For BALTIMORE COUNTY Home Buyers

As of October 1, 2016, Southeast CDC is no longer a provider of Baltimore County Housing Counseling for the Settlement Expense Loan Program (SELP)

Baltimore County Buyers should contact one of the following agencies for assistance.

Belair Edison Neighborhoods Inc. (410) 485-8422
Diversified Housing Development (410) 496-1214
Eastside Community Development Corp. (410) 284-9861
Harbel Housing (410) 444-9152
St. Ambrose (410) 366-8550

For more information, click here.

 

Maryland Mortgage Program (CDA)

The State of Maryland offers a loan program (commonly referred to as CDA loans) that let you finance the purchase of a new home with below-market, fixed interest rates. The CDA mortgage is available for  homes in priority funding areas. The home must be occupied as a principal residence-no investment property is eligible.

For more information, click here.