Frequently Asked Questions About Buying Into Baltimore

• Do I have to attend a Neighborhood Tour or Group Counseling Session to attend Buying Into Baltimore?
• How do the Buying Into Baltimore events work?
• Neighborhood & Home Tour: guided or self-driven?
• In which neighborhood is the house I want to buy located?
• What is the $4,000 incentive?
• How do I use the $4,000 incentive?
• What is the Vacants to Value $5,000 incentive?
• Are only the sample homes for sale on the tour eligible for the $4,000 incentive?
• I have a home for sale. Can I get it to be included on the tour?
• Want to Volunteer?
• Want to Learn More?

Do I have to attend a Neighborhood Tour or Homeownership Counseling to attend Buying Into Baltimore?

No. Homebuyers can still attend a Buying Into Baltimore event if they do not attend a Neighborhood Tour. But you will be missing out! The tours are a casual and authentic way to stop by a neighborhood and meet the folks who actually live there. Ask them where to buy groceries. Ask them what schools their children attend. Ask them where they like to grab dinner on a Friday night. Not to mention the chance to walk through houses for sale and talk with the Live Baltimore staff!

Homebuyers can still attend a Buying Into Baltimore event if they do not attend Homeownership Counseling. But please note, all homebuyers must earn a city-certified Homeownership Counseling Certificate to be eligible to use the $4,000 incentive. That is why Live Baltimore recommends you earn it prior to attending Buying Into Baltimore. There is a 90-day timeframe from the day of the event in which homebuyers must go under contract on their home.

How do the Buying Into Baltimore events work?

Buying Into Baltimore are homebuying events, and those who attend an event are eligible for a $4,000 homebuying incentive. Every year, there are two events, a spring/summer event and a fall event. At the events, homebuyers can take a narrated bus tour of homes and neighborhoods (or attendees may drive themselves), sit-in on homebuying workshops, have opportunities to speak with trusted real estate professionals and lenders, get insider perspective from neighborhood associations and neighbors, and have a truly authentic and educational experience to help with their homebuying decisions.
 
Thirty (30) homebuyers from each event can receive a $4,000 homebuying incentive to use toward downpayment and closing costs on their home purchase. That means 30 incentives will be awarded after the spring/summer event and 30 incentives will be awarded after the fall event. The money is not awarded at the events. Tickets are handed out at the events. Attendees at the event will get the Buying Into Baltimore Ticket stamped on the tour. The stamped Ticket is then worth $4,000 to eligible, qualified homebuyers! (please note, eligibility is based on homebuyers' personal financial situations. All homebuyers will have to qualify through a mortgage lender.) 

 
The fee to participate in the Buying Into Baltimore events is $10.00* for one (1) person. Each person over the age of ten (10) must register and pay online. There will be an on-site registration fee of $15.00 on the days of the events, but pre-registration is highly recommended because space is limited!

Neighborhood & Home Tours: bus or self-driven?

Each year, Live Baltimore searches the City to create authentic tours of homes and neighborhoods that are great opportunities for homebuyers. For each tour, we highlight financial incentives that may be used toward the featured homes as well as some of the reasons why the neighborhoods offer a superior quality of life (like schools, walkability, local retail, and green space, among others!). (please note, eligibility for financial incentives varies based on the property, neighborhood, and  homebuyers' personal financial situations. All homebuyers will have to qualify through a mortgage lender.)

Narrated Bus Tour

• Tours are narrated to provide first-hand knowledge of the neighborhoods.
• The narrated tour stops at four homes for sale. At each home, your Buying Into Baltimore Ticket is stamped. Be sure to get your Buying Into Baltimore Ticket stamped at all four homes to be eligible for the $4,000 incentive.
• Event registration does not guarantee seats on any of the guided tours. You will sign-up for the bus tour at the events. 
• Tours begin to depart at 1pm and last for approximately two hours.

Self-Driven Tour

• You are welcome to drive the tour yourself!
• Maps and driving directions will be available at 12pm on the event day.
• The self-driven tour directs you to four homes for sale. At each home, your Buying Into Baltimore Ticket is stamped. Be sure to visit at all four homes on the tour and get your Buying Into Baltimore Ticket stamped to be eligible for the $4,000 incentive.
  
  

In which neighborhood is the house I want to buy located?

If you have a home in mind and want to know which neighborhood it is in, use Baltimore City's online mapping application, CityView.

What is this $4,000 incentive?

The $4,000 incentive can be used toward downpayment and closing costs. The $4,000 is a 0% interest, forgivable loan. As long as the homebuyer stays in the house for five (5) years as the primary resident, then the forgiveable loan will not have to be repaid. The forgiveable loan balance reduces 20% each year you live in the house, and is gone after a five years.

How do I use the $4,000 incentive?

Homebuyers are eligible to use the incentive if all of the following conditions are met:

• A HUD-certified homeownership counseling certificate is required. Counseling must be completed BEFORE signing a contract of sale. Click here for a list of housing counseling agencies. Live Baltmore recommends earning your Certificate before attending Buying Into Baltimore!
• Homebuyer must use this home as your primary residence.
• Homebuyer must go under contract on the home within 90 days from the Buying Into Baltimore event date. Contracts signed prior to the event will not be eligible for the Buying Into Baltimore incentive.
• The property must be within Baltimore City.
• Homebuyer's mortgage amount cannot exceed $417,000.
• Homebuyers are encouraged to use a Fannie Mae or Freddie Mac approved lender.
• Homebuyers must invest a minimum of $1,000 from personal funds/resources.
• You must be one of the first 30 people, after the Buying Into Balitmore event, to meet these qualifications and submit your stamped Buying Into Baltimore Ticket, Homeownership Counseling Certificate, signed contract of sale, and photo ID to Baltimore Housing, Office of Homeownership (417 E. Fayette Street, Suite 1125, Baltimore, MD 21201). Questions? Call Baltimore Housing’s Office of Homeownership directly at 410.396.3124.

What is the Vacants to Value $5,000 incentive?

For designated Vacants to Value houses, the Buying Into Baltimore incentive amount is increased to $5,000 to use toward downpayment and closing costs. There are other incentives for which homebuyers may qualify that can be used toward the purchase and renovation of a designated Vacants to Value home, click here to learn more.

Questions? Call Baltimore Housing’s Office of Homeownership directly at 410.396.3124. 
Website: www.baltimorehousing.org/vacants_to_value

Are only the featured homes on the tour eligible for the $4,000 incentive?

No! The featured houses for sale on the tour qualify, but the incentive eligibility is not limited to those featured houses. As long as the house is within Baltimore City and is under $417,000, that home is eligible for the incentive.

I have a house for sale. Can I get it to be included on the tour?

• Live Baltimore starts reviewing houses for tours about 6-8 weeks prior to each event.
• Real estate agents can email the MLS listing to house@livebaltimore.com.
• The house must be listed on the Metropolitan Regional Information Systems (MRIS) to be considered.
• The house must be in the City to be considered.
• Live Baltimore cannot guarantee any house being included on the tours.
• Live Baltimore visits houses and makes final decisions on which houses are chosen.
• Houses to be featured on the tours will not be disclosed to the public until the day of the event.

Want to Volunteer?

If you are interested in volunteering for Buying into Baltimore, please email info@livebaltimore.com.

Want to Learn More?

If you want more information about City life, simply fill-out our customer profile and we'll quickly get information out to you!