Community Development Block Grant
CDBG's First Time Homebuyer Program
What is it?
Beginning August 1st, the Office of Homeownership established a new program designed to
assist first time homebuyers. The program, the Community Development Block Grant
Program, can give qualified first time homebuyer $5,000 toward down payment and
settlement expenses.
Who is eligible?
First-time Baltimore homebuyers with a counseling certificate from a City Approved
Counseling Agency.
Upon receiving a counseling certificate, the borrower 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. Please be absolutely certain that there is no
peeling, flaking, chipping paint inside or outside the purchased property.
Additionally, active City employees may already qualify to receive $3,000 in home buying
incentive funds. If you attend the Eastside Trolley Tour September 12th at City College High
school, you may qualify for another $3,000. Also, if you purchase before November 30, you
may qualify for the $8,000 Homeownership Federal Tax Credit.
What are the benefits?
A possible combined amount of $11,000 in incentive money and a possible $8,000 tax
credit.
What are the restrictions/loan terms?
The funding source for the CDBG program have 80% median income limitations. You must
be within the income limitations to qualify for this program. The income limitations are as
follows:
1 person $44,800
2 person $51,200
3 person $57,600
4 person $64,000
5 person $69,100
6 person $74,250
7 person $79,350
8 person $84,500
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