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The following programs are available from the City of Baltimore. Contact Office of Rehabilitation Services for more info at 410-396-4151.
Provides rehabilitation loans for properties requiring major repairs to systems, structure, housing code compliance, including exterior
Maximum loan amount $15,000 Eligible owners must meet the 80% median income limits (i.e. $46,600 two person household) Loans are written from 1% to 6% based on income affordability Loan terms may vary from 10 to 20 years & require a monthly principal and interest payment to the City servicer Eligible homes may not exceed 2 dwelling units & must be occupied by the owner
Provides rehabilitation loans for critical repairs to properties owned by very low income households ( below 50% of medium income levels - i.e., $29,100 two person household)
Maximum loan is $7,500 Loans carry a 3% interest rate & are deferred until sale of the property Homeowner makes no monthly payment May not exceed 4 dwelling units & requires occupancy by the owner Eligible: emergency repairs, roofing, plumbing, waterline, electric repairs
State Rehabilitation loans to correct health safety violations and major systems deficiencies
Maximum loan amount is $30,000 or 95% of property's fair market value less secured debt Eligible owners must be below 80% of state median income (i.e. $48,160 two person household) Interest rate from 0% to 7% based on household income Loan terms up to 20 years with deferred payments allowed for households below 50% of state median income Eligible properties may not exceed 4 dwelling units with owner occupying one unit
The Emergency Roof Repair Program offers grant funds to make repairs to roofing systems. The program provides existing homeowners funding to protect the homes from structural deterioration from water intrusion.
How to Qualify:
The program is available City-wide to households below 50% of state median income levels (i.e., $29,100 for a 2 person household). The program is available on all homes and up to two dwelling units provided the owner resides in the property. Homeowners must be 62 years of age, and have title to the property and provide copy of the Deed.
Loan Terms :
An Easement Grant up to $5,000 for repairs which reduces 20% for each year of occupancy. After 5 years the owner has no obligation to repay. The homeowner makes no monthly payment. Applicants with special needs may be considered.
State/Federal loans & grants to remove lead from identified surfaces. For more information on this program, please contact the Healthy Start Program at 410-396-7225.
Maximum loan amount is $15,000 and maximum grant and/or deferred loan amount is $6,000 No income limits Loan interest rates from 0% to 7% based on household income. Grants possible if property is located within specified target areas Loan terms up to 20 years Eligible properties may not exceed 4 dwelling units and require lead notice issued by the Baltimore City Health Department.
LEAP provides free windows and lead dust clearance testing to City homes. Homeowners, landlords and tenants are eligible. Visit the LEAP Website or call 410-534-6447 to obtain an application or get more information.
- Property owners must meet risk reduction standards by removing chipping, flaking, or peeling paint; repairing any structural problems that cause paint flaking; making sure doors do not rub on lead-painted surfaces; and making all floors smooth and cleanable.
- Property must be accepted into the program.
- Once accepted, a scope of work is developed. Property owner or tenant is responsible for completing the intial phase of the work.
- Once the risk reduction standards are met, the Coalition to End Childhood Lead Poisoning will install new windows and provide dust clearance testing free of charge.
- Property must be located in an eligible zip code; have been constructed prior to 1978; be occupied by a pregnant woman and/or child under 6; have at least one bedroom; and be in a 1-4 unit building.
For more information on this program, contact:
Patricia Clements
Baltimore Community Lending
120 E. Baltimore St. Suite, 1350
Baltimore, MD 21201
410-727-8590 ext. 205
patricia.clements@bclending.org
www.bclending.org
Property must be located in Baltimore City Property can be vacant or owner-occupied at time of mortgage application Minimum contribution - 5% of total loan amount No income limits Will finance 95% of loan - based on affordability Grants, unsecured & secured loans, seller contribution accepted Not limited to first time buyers Primary residence / up to four units in home Requires general contractor of buyers choice Maximum Loan Amount:
1 unit- 417,000
2 unit- 533,850
3 unit- 645,300
4 unit- 801,950 Maximum Term: 30 years Loan payments start when you move in
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