Grand Slam Home Run
Home Buying Incentives in Baltimore City
Homes all across Baltimore City are going, going, GONE, thanks to the Maryland Grand Slam program! The State of Maryland and Baltimore City are collaborating efforts to bring the dream of sliding into homeownership a reality.
You will round first with an interest rate 0.25% below the regular Maryland Mortgage Program. Crossing second will get you a $5,000 grant for down payment and closing costs from the State of Maryland. The City of Baltimore will flag you to third with another $2,500 grant for down payment and closing costs. Lastly, you’ll cross home plate with a waiver of the State fee for a Maryland Home Credit on your taxes!
Not enough incentive to start looking in Baltimore City? Eligible borrowers can also add additional incentive programs which include the Vacants to Value Booster Program ($10,000), Live Near Your Work (city/employer matching funds), and so much more! These incentives are game winning opportunities for any buyer!
To qualify, all borrowers must take approved homebuyer education and use an approved lender. Baltimore City is a targeted area which allows non-first time home buyers as long as they occupy the property as their primary residence and not own any other property at time of closing.
For more details about the Maryland Grand Slam swing on over to their website at http://www.mmp.maryland.gov or call 1-800-756-0119
Thanks to Lewis Hibbs (NMLS #270092) at Fairway Independent Mortgage for explaining all about this great down payment program. For more information and to qualify for a loan you can find Lewis here.
Of course, I am always available to help you with all your real estate needs and to help you find that perfect home, whether it is in the city or out!!
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