If you're considering buying a home in Baltimore City, you may be wondering if there are any home buying grants available to help you finance your purchase. Fortunately, there are several grants available to home buyers in Baltimore City that can help make the dream of homeownership a reality. In this blog post, we'll explore five home buying grants that you may qualify for.
Live Baltimore Trolley Tour
The Live Baltimore Trolley Tour is an annual event that provides prospective home buyers with a unique opportunity to tour various neighborhoods throughout Baltimore City. The tour allows potential home buyers to explore different neighborhoods and learn more about the housing options and amenities available in each area.
In addition to the trolley tour, Live Baltimore offers a range of resources to help home buyers navigate the home buying process in Baltimore City. These resources include home buying workshops, one-on-one counseling sessions, and a comprehensive online guide to buying a home in Baltimore.
Vacants to Value
(Photo by Center for Community Progress via their website)
Vacants to Value is a program aimed at reducing blight and promoting homeownership in Baltimore City. The program offers a range of incentives and resources to encourage home buyers to purchase and renovate vacant or abandoned properties in the city.
In addition to financial incentives, such as tax credits and grants, the program offers a variety of resources to help home buyers navigate the renovation process. These resources include access to financing options, technical assistance, and guidance on navigating the permitting and licensing process in Baltimore City.
Community Block Grant
The Community Block Grant program is a federal program that provides funding to states and municipalities to support community development initiatives. In Baltimore City, the Community Block Grant program is administered by the Department of Housing and Community Development.
The program provides funding for a range of community development initiatives, including affordable housing programs, neighborhood revitalization efforts, and economic development initiatives. While the program does not provide direct funding to home buyers, it can provide funding to organizations that offer down payment assistance and other resources to home buyers in Baltimore City.
Live Near Your Work
The Live Near Your Work program is a grant provided by the Baltimore City Office of Sustainability that aims to reduce transportation costs and encourage homeownership in the city. The program offers up to $5,000 in down payment and closing cost assistance to employees of participating employers who purchase a home within one mile of their place of employment.
To qualify for the grant, applicants must be employed by a participating employer, purchase a home within one mile of their place of employment, and attend a homebuying workshop. Participating employers include Johns Hopkins University, the University of Maryland, and the Maryland Institute College of Art, among others.
Maryland Mortgage Program
The Maryland Mortgage Program is a state-run program that offers a variety of home buying grants and incentives to home buyers in Maryland. The program offers a range of mortgage options, including down payment and closing cost assistance, as well as reduced interest rates for eligible borrowers.
To qualify for the program, applicants must meet certain income and credit score requirements, as well as purchase a home in Maryland and use the home as their primary residence.
Good Neighbors Program
The Good Neighbors Program is a grant provided by the Baltimore City Department of Housing and Community Development that aims to encourage homeownership and community development in the city. The program offers up to $10,000 in down payment and closing cost assistance to eligible home buyers who purchase a home in Baltimore City.
To qualify for the program, applicants must be first-time home buyers, meet certain income and credit score requirements, and purchase a home in Baltimore City. The program also requires applicants to complete a homebuyer education course.
If you're considering buying a home in Baltimore City, these five home buying grants can help make homeownership more affordable and accessible. For more information please contact my preferred lender Santana brown here.