Ramblings of a Baltimore area Realtor

Community Development Block Grant Homeownership Assistance Program

Community Development Block Grant Homeownership Assistance Program

CDBG's Homeownership Assistance Program can give qualified first time homebuyers $5,000 toward downpayment and settlement expenses

First time homebuyers with a counseling certificate from a City approved Counseling Agency, upon receiving a counseling certificate, the borrow can then find a property and sign a contract to purchase. Once executing a contract, the borrower must bring that contract back to the counseling agency to have the CDBG program application completed.  The property must be inspected utilizing an HQS inspection conducted by a certified lead abatement inspector.  Please be absolutely certain there there is no peeling, flaking, chipping paint inside or outside the purchased property.  If there is, it must be tested for lead and if necessary, abated, prior to closing.  

Additionally, if you qualify for other mortgage incentive programs, you can "stack" these inentives to pay all of your closing cost expenses and may have enough residual to reduce your mortgage principal.  I have personally witnessed homebuyers "stacking" morethan $30,000 in incentive funds.

This incentive is for $5,000 structured as a 5 year forgivable 20 percent per year.  

The funding source for the Homeownership Assistance Program have 80% median income limitations.  You must be within the income limitations to qualify for this program.  A minimum of $1,000 down must come directly from the purchaser.  All homes must be purchased in Baltimore City.  Currently, income limitations per household are as follows:

1 Person - $46,100

2 People - $52,650

3 People - $59,250

4 People - $65,800

5 People - $71,100

6 People - $76,350

7 People - $81,600

8 People - $86,900

 


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Long & Foster Hampden

410-292-0100 - Direct   410-889-9800 Office

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 1 commentJune Piper-Brandon • April 10 2016 06:40PM
Community Development Block Grant Homeownership Assistance Program
share
Community Development Block Grant Homeownership Assistance Program CDBG 's Homeownership Assistance Program can give qualified first time homebuyers $5, 000 toward downpayment and settlement expenses First time homebuyers with a counseling… more
5498 Springlake Way, Baltimore, MD 21212 - Open House 4/9/16 1-3pm
share
5498 SPRINGLAKE WAY BALTIMORE, MD 21212 Colonial, Detached - BALTIMORE, MD Home Virtual Tour Photo Gallery Property Map Financing Request Showing Contact Me June Piper… more
111 Maiden Choice Ln., Catonsville, MD 21228 - Open House 4/10/16 1-3
share
111 MAIDEN CHOICE LANE CATONSVILLE, MD 21228 Colonial, Detached - CATONSVILLE, MD Home Virtual Tour Photo Gallery Property Map Financing Request Showing Contact Me June… more
Homeland, Baltimore, MD - Gorgeous Renovation Just Reduced
share
5498 SPRINGLAKE WAY BALTIMORE, MD 21212 Colonial, Detached - BALTIMORE, MD Home Virtual Tour Photo Gallery Property Map Financing Request Showing Contact Me June Piper… more
Baltimore, MD - Live in 1 Unit Let Other Pay Your Mortgage
share
1400 ELMTREE STREET BALTIMORE, MD 21226 Colonial, Multi-Family - BALTIMORE, MD Home Virtual Tour Photo Gallery Property Map Financing Request Showing Contact Me June… more
Glen Burnie, MD Nearly New Townhome Just Reduced
share
793 GRAPE VINE LOOP BROOKLYN, MD 21225 Townhouse, Colonial - BROOKLYN, MD Home Virtual Tour Photo Gallery Property Map Financing Request Showing Contact Me June Piper… more
State of Maryland Mortgage Programs and Homeownership Incentives
share
State of Maryland Mortgage Programs and Homeownership Incentive Programs Homeownership for Individuals with Disabilities Program To be eligible, at least one borrower must have a disability or is the parent of a child with a disability; the family… more
Baltimore City Employee Home Ownership Program
share
Baltimore City Employee Home Ownership Program This program is designed to assist all active employees of the City of Baltimore to become homeowners within the city limits. All active employees of the City of Baltimore, City of Baltimore agencies… more
Vacants to Value - Learn How to Buy Baltimore City Owned Property
share
Vacants to Value Learn How to Buy Baltimore City Owned Property Baltimore is one of the world’s most charming cities and has been voted America’s Most Visibly Historic City. With well over 200 unique neighborhoods, the City of Baltimore is as… more
Where's The Money? Grant Programs to Buy A Home
share
Where's the Money? Grant Programs to Buy a Home in Baltimore City Michael Guye, Director of Homeownership at Baltimore Housing presents this great workshop Learn about the many grants and low and no interest loans available to help first-time… more