Buying Into Baltimore
Homebuying Fair & Neighborhood Tours
Buying Into Baltimore is a homebuying fair featuring four different neighborhood tours. The event is produced by Live Baltimore and the $4,000 award is provided by the City of Baltimore. There are two fairs, one for the West side in May and another for the East side in September. The fairs provide homebuying education opportunities and introduce participants to the variety of Baltimore's neighborhoods and housing styles.
Through the City of Baltimore Government, a total of $300,000 is available for 100 new homebuyers annually. Fifty (50) individuals from each fair are eligible to receive a $4,000 homebuying award per fair. That means 50 awards will be awarded at Western Fair and 50 awards will be awarded at Eastern Fair. The $4,000 award can be applied toward downpayment and closing costs.
2012 Dates
Live Baltimore conducts these events twice a year. They are big efforts to organize, promote and execute and the City has a limited allotment for the homebuying incentives each year.
- WEST - May 12, 2012
- EAST - September 2012
If you didn’t participate in this homebuying incentive event and would like to receive an email about future events such as this, click here to sign up for Live Baltimore’s Weekly eNewsletter.
Frequently Asked Questions About Buying into Baltimore
Below are some of the frequently asked questions. Click on them and you will directed to the answers below:
How does the program work?
- The fee to participate in this event is $10.00* for one (1) person, each additional participant (over the age of ten (10) must register and pay online. You can pay online when you register. There will be an on-sight registration on the day of the event, but pre-registration is highly recommended because space is limited!
- The event consists of homeownership education sessions, exhibits and neighborhood tours.
- Education sessions consist of 45 minute workshops beginning at 9am on topics such as Applying for a Mortgage, Finding a Home in Baltimore City, Renovating a Home, and Baltimore City Homeownership Incentives.
- Visit with exhibitors such as mortgage lenders, real estate agents, homes and developments, construction specialists, homeownership counselors, neighborhood associations, etc.
- Tours are available at designated morning and afternoon shifts.
Neighborhood Tours: Guided or Self-Driven?
Tours have been designed to show you many hidden neighborhood highlights. They will introduce you to different neighborhoods of Baltimore City and provide you with detailed neighborhood information and history.
Guided Tours
There are four different home tours that take place during the event.
- You will ride a bus with other participants and a narrator and will view a variety of neighborhoods and homes, ranging in style, price and geographic location - all with the ease of someone else doing the driving.
Tours are narrated to provide first-hand knowledge of the area.
Each narrated tour stops at four sample homes for sale. At each home, your ticket will be stamped (proving that you participated in event).
- Event registration does not guarantee seats on any of the guided tours. However, every effort will be made to accommodate your choice.
You must sign up for each guided bus tour individually on the day of the event after you’ve officially checked in and registered on site.
Tours begin at approximately 11am and last for approximately two hours.
Self-Driven Tours
You are welcome to drive the tour routes yourself.
Maps and driving directions will be available at 10am at “City of Baltimore” table in the exhibit area on the event day.
Be sure to visit at least four (4) of the 16 homes on the tour and get your Award Ticket stamped to qualify for the $4,000 award.
What are the fair boundaries?
The fairs are split between the Western and Eastern regions of the City via a virtual vertical line running through the city, North to South. The boundary is not a straight line as it follows several major roads.
Boundary dividing line:
Starting from the North (Baltimore City/Baltimore County Line):
- Head South on Charles St.
- To West on 29th St.
- To South on Howard St.
- To West on Camden St.
- To South on Russell St. and continue to County Line
Is my house on the East or West side of the boundary?
If you have a home in mind and want to know if it qualifies for the West or East side, use an online mapping application, like CityView, to plot the address and compare its location to the boundary line.
What is this $4,000 award?
You can use the $4,000 incentive for your downpayment or to help cover your closing costs. This is not free money. The $4,000 is set-up as a forgivable loan. As long as you stay in the home you purchase with the funds for five years as the primary homeowner-occupant, you don't have to re-pay the award. The award is secured by a Deed of Trust written for a five-year term. Officially, the payback obligation reduces 20% for each year of occupancy and is released after the five year period.
How do I get the $4,000 award?
You will be eligible for the award funds if all of the following conditions are met:
- A current homeownership counseling certificate is required. Counseling must be completed BEFORE signing a contract of sale. Click here for a list of housing counseling agencies.
- You must use this home as your primary residence.
- You close on your new home within 90 days from the event date. Contracts signed prior to the event will not be eligible for the award funds.
- Your property is within the fair boundaries.
- Your mortgage amount cannot exceed $417,000.
- You are encouraged to use a Fannie Mae or Freddie Mac approved lender.
- You must invest a minimum of $1,000 from personal funds/resources.
- Purchase contracts must be signed and dated after the “Buying into Baltimore” event, not before. Contracts signed prior to the event date will not be accepted.
You must be one of the first 50 people to meet these qualifications and submit your validated/stamped ticket, proof of homeownership counseling, signed contract of sale & photo ID to Baltimore Housing, Office of Homeownership (417 E. Fayette Street, Suite 1125, Baltimore, MD 21201). Questions on the homebuying incentive? Call Baltimore Housing’s Office of Homeownership directly at 410.396.3124.
What is the Vacants to Value $5,000 award?
If you buy a designated Vacants to Value, the Buying Into Baltimore award amount is increased to $5,000 to use toward downpayment and closing costs. There are other incentives for which you may qualify that you can use toward the purchase and renovation of a designated Vacants to Value home, click here to learn more.
For more information, contact:
Baltimore Housing
Phone: 410.396.4109
Website: www.baltimorehousing.org/vacants_to_value
Are only the sample homes for sale on the tour eligible for the $4,000 award?
The sample homes for sale on the tours qualify, but the award eligibility is not limited to the featured houses. As long as the property you wish to purchase is within the fair boundaries (West of boundaries applicable for West Fair, East of boundaries for East Fair) and is under the $417,000 price limitation, that home is eligible for the award funds.
I have a home for sale. Can I get it to be included on the tour?
- Live Baltimore starts reviewing homes for tour inclusion about 6-8 weeks prior to each event.
- Real Estate Agents can email the MLS listing to house@livebaltimore.com.
- The property must be listed on the Metropolitan Regional Information Systems (MRIS) to be considered.
- The property must be in the City in the designated geographic area to be considered.
- Live Baltimore cannot guarantee any properties being included on the tours.
- Live Baltimore visits homes and makes final decisions on which homes are chosen.
- Homes 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.
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