Getting Help to Buy Your First Home in Baltimore
For many families in Baltimore buying a home may seem like a pipe dream. The high cost of renting, lower incomes, family responsibilities, student loan repayments all seem to get in the way of achieving your dream.
Did you know there are many grant and down payment assistance programs available to help you with the down payment?
I got a contract accepted yesterday on a nice home in the Hampden area priced at $190,000. My buyer's monthly mortgage payment is going to be in the region of $1,000 a month. He could qualify for a number of incentives to purchase this home and not have to have any money saved.
My buyers employer participates in the Live Near Your Work program which will give him $5,000, the home has been vacant for over a year and he could get $10,000 Vacant to Value Booster Grant, his income qualifies him for $5,000 Community Development Block Grant program. I have had clients qualify for as much as $46,000 in down payment assistance, some as low as $5,000. There are several scenarios depending on your situation, let's talk, and see which you qualify for and make owning a home more than a pipe dream!!