|
Note: This information has been condensed for your purpose For more detailed information please go to www.BaltimoreHousing.org. | |||||
| State and Federal Mortgage Programs and Homeownership Assistance Contact your real estate agent if you have any questions regarding any of the programs listed below. CDA Maryland Mortgage Program The CDA Maryland Mortgage Program provides low-interest mortgage loans to eleigible homebuyers with low to moderate income households through private lenders. The current income limit for a one or two person family is $84,850 and the sales price limit for an existing house is $247,000. Interest rates may vary but are below most market rates. Down payment Settlement Expense Loan Program (DSELP) DSELP provides 0% deferred second mortgage loans to eligible home buyers to cover settlement expenses when applicants use a CDA Maryland Mortgage Program. The income and sales price limits are the same as those listed above. Homeownership for Individuals with Disabilities Program Eligible participants are those where at least one borrower is disabled, the family income is not more than $40,150 and the purchase price is n ot more than $100,000. The mortgage program offers a 3% interest rate loan for income eligible buyers. Tenant Conversion Mortgage Program Tenants buying the home where they are now renting, may be eligible for the Tenant Conversion Mortgage Program, which provides 5% interest, mortgage loans. Family incomes cannot exceed $41,150 and the price of the house cannot exceed $50,000 at current levels. American Dream Downpayment Initiative A new federal program providing down payment and closing cost assistance for low income families is available in Baltimore City. The funds are available. Check BaltimoreHousing.org for the latest information. Federal Home Loan Bank of Atlanta - First-time Home Buyers Program Many banks in the Baltimore area are members of the Federal Home Loan Bank of Atlanta and participate in the First-time Home buyers Program. Participating banks receive funds at the beginning of each yar that can be used for closing cost assistance grants for low and moderate income families. These funds are often exhausted before the end of the year, and sometimes early in the year. Check with your lender, or shop for a lender who participates and has funds available. Baltimore City Section 8 Homeownership Program The Baltimore City Section 8 Homeownership Program is a federally funded program open to Section 8 participants who select the Homeownership option as a use for their Housing Choice Voucher. HUD implemented these regulations to encourage and promote Homeownership opportunities amoung low to moderate income participatnts. Traditionally, voucher payments were applied toward the payment of a rental subsidy. With the Homeownership option, subsidy payments are applied to the morgage for a specified period of time. The amout of subsidy will depend on family size, income, purchase price, etc., and will reflect each individual family's level of affordability. All participants of the Homeownership option must meet regular Section 8 eligibility requirements in addition to the new regulations govering the Homeownership program. All home purchases must be within the Baltimore metropolitan ara. A minimu cash down payment of 1% of the purchase price must come directly from the purchaser. Section 32 Public Housing Homeownership Program The Baltimore City Office of Homeownership also administers the Section 32 Public Housing Homeownership Program. This program allows for the sale of public housing units to low income families assited by the Housing Authority. Participants for this program must select homes from current Housing Authority inventory. All homes will be appraised and evaluted for repairs. Any repairs will be conducted prior to sale. Participant affordability will be based on federal guidlines. Depending upon the purchase price of the home, and other factors, a silent second mortgage may be available to keep the property affordable. A minimum cash down payment of 1% of the pruchase price must come directly from the purchaser. Vacant House Loan Program (VHLP) This program offers a first mortgage loan of up to $80,000 at a 30 year fixed rate, along with a home repair loan of up to $25,000. The following stipulations apply: Baltimore Homeowner Emergency Loan Program (Baltimore Help) To help prevent imminent foreclosures by predatory lenders, this program-funded primarily through Fannie Mae and HUD - provides eligible struggling homeowners with:
For more information please visit www.bcdfc.com. | |||||
| Buying in Baltimore Home-Buying Fair and Neighborhood Tours Get $3,000 towards the purchase of your new home in Baltimore City. Down payment & closing cost awards are available to the first 50 participants who close on a house within 90 days of the events. The Buying Into Trolley Tours Program is a joint venture of the City of Baltimore and the Live Baltimore Home Center. Neighborhood tours are scheduled in the spring and fall. All contracts with validated tickets will be accepted on a first-come, first-served basis at the Office of Homeownership. Buyer must submit a copy of the Counseling Certificate obtained from one of the city/state approved agencies. For more information call 410-396-3124 | |||||
| |||||
| Baltimore City Employee Homeownership Program The Baltimore City Employee Homeownership Program, now in its tenth year, is designed to help the employees of city agencies and quasi-city agencies become homeowners in the city. The terms and the eligibility criteria for the program are as follows: Must be employed and paid by the Mayor and city Council of Baltimore City for minimum of 6 months. Must purchase a property within Baltimore City. Occupy as primary residence. Eligible propery: Single family house, one to two dwelling unit, or condominium. Up to a $3,000 forgivable loan provided with a 5-year term, reducing 20% for each year of occupancy ($3,750 for purchase in Healthy Neighborhood, which must be mentioned at time of application). Only one employee per household may recieve assitance. Must use approved Fannie Maie/Freddie Mac lenders or Municipal Employees Credit Union for first mortgage financing. Employe must invest a minimum of $1,000 from personal funds. Buyer must obtain counseling certificate from one of the city approved agencies. INELIGIBLE NEIGHBORHOODS If the intended purchase property should fall into one of these areas, you will not be eligible for the Baltimore City Employee Homeownership Program. BELLONA-GITTINGS BLYTHEWOOD CANTON CEDARCROFT CROSS KEYS EVERGREEN FEDERAL HILL GUILFORD HUNTING RIDGE HOMELAND HOMELAND-GALLAGHER KERNWOOD KESWICK LAKE EVESHAM LOYOLA MOUNT WASHINGTON NORTH ROLAND PARK ROSEBANK SABINA-MATTFELDT TEN HILLS THE ORCHARDS TUSCANY-CANTERBURY WYNDHURST | |||||
| Mayor's Healthy Neighborhoods Initiative The Healthy Neighborhoods Initiative (HNI) is an effort of area foundations and the City of Balitimore to invest strategically in certain neighborhoods and target blocks within those neighborhoods. On HNI target blocks, special purchase-rehab mortgages and home imporvement loans are available. In addition, city employees are eligible for an extra $750 as part of the Baltimore City Employee Homeownership Program, bringing their total incentive from that program to $3,750. For more information about HNI, contact the organizations listed below: | |||||
| Key-Neighborhood Information Sponsoring Organizations: Belair-Edison Neighborhoods, Inc. Contact's Name: Barbara Aylesworth Address: 3412 Belair Road, Baltimore, MD 21213 Phone Number: (410) 485-8422 Email: barbara@belair-edison.org Belair-Edison Target Areas: 3700-3800 Belair Road 2700-2800 Chesterfield Avenue 3100-3400 Dudley Avenue 4200-4300 Parkside Drive 2600-2800 Pelham Avenue 3200-3400 Ramona Avenue 4200-4300 Shamrock Avenue 3000-3400 Shannon Drive 4200-4300 Sheldon Avenue 3400-3500 Brendan 3500 Kenyon 3600 Brehms Lane 3400 Kentucky 3300-3500 Richmond Any vacant property resulting from a foreclosure |
Charles Village Community Benefits District Contact's Name: Pauline Davis Address: 2301 North Charles Street, Baltimore, MD 21218 Phone Number: (410) 235-4411 Email: PaulineCVCBD@aol.com Charles Village Target Area: 2300-2800 Guildford Avenue 2200-2600 Calvert Street 2000-2600 St. Paul Street 2300-2800 Maryland Avenue 23rd,24th,and 25th Streets between Maryland and Guildford | ||||
| Ednor Gardens (Greater Homewood) Contact's Name: Jermaine Johnson Address: 3503 North Charles Street, Baltimore, MD 21218 Phone Number: (410) 261-3511 Email: JJohnson@greaterhomewood.org Ednor Gardens Target Area: 1100 36th Street, East 3800-3900 Crestlyn Road 3600-3900 Ednor Road 3600-3900 Yolanda Road 00-1100 Andover Road 700 to 1600 Blocks of Argonne Drive 900 Blocks of McKewin 900 Blocks of Chestnut Hill 900-1500 Blocks of 36th Street 900 Block of North Hill Road 3600-3800 Blocks of Elkader Road 3600-3900 Blocks of Kimble 3600-4000 Blcoks of Rexmere Road 900 Block of North Hill Road 3300-4000 Blocks of The Alameda and Hillen Road 3600-4000 Blocks of Loch Raven Blvd 4000 Block of Deepwood Road 1200-1600 Blocks of Round Hill Road 1200-1700 Blocks of 33rd, 35th, Lakeside and Windmere Avenues 3500-and 3900 Blocks of Tivoly Avenue 3500-3700 Blocks of The Alameda Circle 3600-3800 Blocks of Delverne and Monterey Roads 1500 Blocks of Tunlaw, Medford, and Greendale Roads 1500 Blocks of Fernley, Oakridge, Upshire, and Kennewick 1500 and 1600 Blocks of Shadyside and Ralworth Roads 3600-3800 Greenmount Ave (Westside) York Court #s 1,2,3 600-800 33rd Street 3300-3700 Ellerslie Ave (Westside) 600-800 Melville |
Garrison Boulevard United Neighbors Association Contact's Name: Mereida Goodman Address: 2300 Garrison Blvd., Baltimore, MD 21216 Phone Number: (410) 947-0084 Email: mg.garwynoaks@verizon.net
Garwyn Oaks tgarge Areas:
| ||||
| Reservoir Hill Improvement Council Address: 2100 Park Ave. Baltimore, MD 21217 Phone Number: (410) 225-7547 Email: jruffin@reservoirhill.net Reservoir Hills Target Areas: 1800, 1900, 2000, 2100 Blocks of Park Avenue 600 and 700 Blocks of Lenox Street 600, 700, 800,Blocks of Reservoir Stree 2100, 2200 and 2300 Blocks of Brookfield Street 700, 800 Blocks of Newington Street 2100 Block of Bolton Street 1900, 2000, 2100, 2200 Blocks of Mount Royal Terrace |
Greater Mondawmin Coordinating Council, Inc Contact's Name: Oscar Savage Address: 2401 Liberty Heights Ave., Suite 1026, Baltimore, MD 21215 Phone Number: (410) 332-0387 Southern Mondawmin Target Areas: 2000 Bentalou Street, North 2100-2200 Clifton Avenue 2000-2100 Pulaski Street, North 2000 Ruxton Avenue 2000-2100 Smallwood Street, North 2100-2200 Walbrook Avenue 2000 Wheeler Avenue 2100-2300 Windsor Avenue 2700-2800 Parkwood Avenue 3000-3100 Auchentoroly Terrace 2300 Anoka Avenue 2000 Braddish Avenue 3500 Holmes Avenue | ||||
| Neighborhoods of Greater Lauraville (NOGLI) Contact'sName: Tara Tyler Address: 4605 Harford Road, Baltimore, MD 21214 Phone Number: (410) 444-9988 Email: tara@nogli.com
Arcadia:
Moravia-Walther:
Lauraville: |
Midtown Development Corporation in partnership Jubilee Baltimore Contact's Name: Charlie Duff Address: 1228 N. Calvert Street, Baltimore, MD 21202 Phone Number: (410) 327-7373, x101 Email: charlie@jubileebaltimore.org Midtown Target Areas: 100-200 Biddle Street, East 900-1900 Calvert Street 100-200 Chase, East 100-200 Eager Street 100-200 Mt. Royal, East 100-200 Preston, East 100-200 Read, East 800-1300 Guildford Avenue 700-1300 Park Avenue 1100-1900 Eutaw Street 800-1300 Hunter 800-1300 St. Paul 800-1300 Lovegrove 800-1300 Maryland Avenue 800-1300 Cathedral Street | ||||
| Patterson Park Community Development Corporation Contact's Name: Ed Rutkowski Address: 2900 E. Baltimore Street, Baltimore, MD 21224 Phone Number: (410) 732-0902, x111 Email: ed@ppcdc.org Patterson Park Target Areas: 2300-2900 Baltimore Street, East 200-400 Ellwood Avenue, South Unit & 100 Linwood Avenue, North Unit & 100 Linwood Avenue, South 2900 Pratt Street, East 100 and 200 Potomac Street 100 and 200 Curley Street 100 and 200 Linwood Avenue 100 and 200 Streeper Street |
Southeast Community Development Corporation Contact's Name: Joan Mitchell-Kinder Address: 3700 Eastern Avenue, Baltimore, MD 21224 Phone Number: (410) 342-3234, x26 Email: joan@southeastcdc.org Highlandtown Target Areas: 3400-3900 Blocks of Bank Street 3400-3900 Blocks of Gough Street 3400-3900 Blocks of Claremont 3400-3900 Blocks of Pratt Street 200-300 Blocks of Eaton Street 200-300 Blocks of Conkling Street 200-300 Blocks of Highland 200-300 Blocks of Fagley 200-300 Blocks of Grundy 200-300 Blocks of Haven 400 Block of Anglesea 300-400 Blocks of Cornwall 300-400 Blocks of Drew 300-400 Blocks of Elrino 300-400 Blocks of Folcroft 300-400 Blocks of Gusryan 300-400 Blocks of Hornel 300-400 Blocks of Imla 300-400 Blocks of Joplin 300-400 Blocks of Kane | ||||
| Baltimore City Live Near Your Work Program
The Baltimore City Live Near Your Work Program is a partnership between employers and the City of Baltimore. The purpose of the program is to provide direct financial assistance for eligible employee's first home purchase in Baltimore City. It is designed to encourage homeownership near place of employment, where there are diverse neighborhoods offering a variety of home styles. In essence, the program is designed to strenthen community revitalization with purchase incentives for continued neighborhood and economic vitality. | |||||