Baltimore’s Office of Homeownership established the First Time Homebuyer Program. The program aims to aid first time homeowners by providing qualified individuals with $5,000 toward down payment and settlement expenses structured as a 5-year loan forgivable 20 percent per year. Those who are eligible are identified as “first-time homebuyers with a counseling certificate from a City Approved Counseling Agency.” Homebuyers can combine this incentive with other mortgage incentive programs. The program’s website specifies the restrictions/loan terms.
To visit the Program’s web site, please visit: http://www.baltimorehousing.org/homeownership_firsttime
To access contact information for the City’s Approved Counseling Agency, please visit: http://static.baltimorehousing.org/pdf/homeownership_counseling.pdf
For questions about the First Homebuyer Program, please contact: Marva Allette of the Office of Homeownership at 410-396-3124