Home Purchase
$25,000 Forgivable Home Loans
Through its Direct Purchase Program, Baltimore's Healthy Neighborhoods organization has $25,000 forgivable loans available for homebuyers to help defray the cost of the purchase of a bank-owned home. The Direct Purchase Program relies on the commitment of homebuyers who love city life and believe in the future of active and engaged urban communities.
Purchase/Rehab Loans
The Healthy Neighborhoods Purchase/Rehab Loan is available to new homebuyers on target blocks within Patterson Park who will make improvements to a property which will serve as their primary residence. With the ability to purchase up to 120% of the after-rehab value of the house, borrowers are afforded the ability to purchase homes that need work and stay within their means. Extremely competitive interest rates at 1% below market make this a very attractive option for those thinking of purchasing and rehabbing in Patterson Park!
Live Near Your Work
The Live Near Your Work Program is a partnership between employers and the City of Baltimore, and provides direct financial assistance for eligible employees' first home purchase in Baltimore city while encouraging homeownership near the place of employment. Participating employers contribute a minimum $2,000 grant or conditional grant to employees for settlement and closing costs. Additionally, Baltimore City will contribute up to $1,000 per employee, which will be matched by the participating employer. Employees of Johns Hopkins University and Johns Hopkins Medical System are eligible for the expanded JH LNYW program, with benefits up to $17,000 available in Patterson Park.
Loans for Teachers, Police, Firefighters & EMTs
Law enforcement officers, pre-Kindergarten through 12th grade teachers, and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door (GNND) Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of a home for purchasers who are employed full-time in one of the above employment sectors by the government where the home is located.
