Baltimore First-Time Home Buyers Incentive
$10,000
Baltimore & Maryland Home Buying Incentive Programs
The city of Baltimore and state of Maryland have several options for movers to the city, including:
Baltimore City Employee Homeownership Program
This program is designed to assist employees of the City of Baltimore in becoming homeowners within the city limits. All employees of Baltimore City’s agencies and quasi-agencies working for a minimum of 6 months can get $5,000 for a 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 the purchase and must use the property as the principal residence. Call 410-396-3124 for more information.
Baltimore City 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 $2,500 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.
Buying Into Baltimore
Eligible first-time homebuyers with a household income at or below 80% of the area median income receive 50% of the down payment, up to $10,000 (other restrictions apply).
An additional $5,000 bonus is available to homebuyers who (a) purchase the house they have rented and occupied for at least six months, or (b) have a disability or have a household member with a disability.
Homebuyer must be a first-time homebuyer. Property must be the homebuyer’s primary residence. For more information, click HERE.
Call 410-396-3124 for more information.
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.
Federal Home Loan Bank of Atlanta Affordable Housing 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 year that can be used for closing cost assistance grants of $5,000 – $7,500 for low and moderate-income families.
For more information, visit https://corp.fhlbatl.com/services/affordable-housing-programs/.
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!
For more information, visit www.hopkinsworklife.org.
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.
Explore Communities in Baltimore and Across Maryland
You've learned about the program. Now explore communities across Maryland to find the place that best fits your lifestyle and priorities.
On the Maryland page you'll find:
- LookyLOO Reviews of Maryland Cities
- Neighborhood Guides
- Local Reviews
- Schools
- Lifestyle
- Save Cities to Your Movebook