Employer-Based Assistance
Baltimore City BRAC Homeownership Incentive
What are the benefits?
If you are relocating to the Greater Baltimore region due to the Federal Base Realignment and Closure initiative (BRAC) and are considering Baltimore City as your new home, check out this great homebuying incentive. Eligible candidates can receive up to $6,500 in downpayment and closing cost assistance. This incentive is offered by the Maryland State Department of Housing and Community Development (MD DHCD) and Baltimore Housing with marketing support from Live Baltimore.
What do I need to know?
- Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency prior to writing a sales contract. Click here for a list of counseling agencies.
- Homebuyer must participate in the Buying into Baltimore event, offered twice annually, and receive the affiliated $4,000 downpayment and closing cost assistance.
- This $4,000 is then matched by the State for $2,500 in the form of a 0% deferred loan, repayable at refinance or sale of home.
Click here for full eligibility requirements.
For more information:
Steven Gondol
Live Baltimore
Phone: 410.637.3750 x125
Email: brac@livebaltimore.com
Baltimore City Employee Homeownership Program
What are the benefits?
The Baltimore City Employee Homeownership program is designed to help the employees of City agencies and quasi-city agencies become homeowners in the City. Up to $3,000 forgivable loan provided with a 5-year term reducing 20% for each year of occupancy ($3,750 for purchase in Healthy Neighborhood, which must be mentioned at time of application).
What do I need to know?
- Homebuyer must be employed and paid by the Mayor and City Council of Baltimore City for minimum of six months.
- Homebuyer must purchase a property within Baltimore City.
- Property must be the homebuyer’s primary residence
- Eligible properties are: single family house, 1 to 2 dwelling unit, or condominium.
- Only one City employee per household may receive assistance.
- Homebuyer must invest a minimum of $1,000 from personal funds.
- Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency prior to writing a sales contract. Click here for a list of counseling agencies.
- The mortgage loan may not exceed $417,000.
For more information:
Marva Allette
Baltimore Housing
Office of Homeownership
417 E. Fayette St., Suite 1125
Baltimore, MD 21202
Phone: 410.396.3124
Website: www.baltimorehousing.org
(see description under Home Purchase Loan Programs)
House Keys 4 Employees
What are the benefits?
This is a Maryland Department of Housing and Community Development (DHCD) settlement assistance program, in which the state matches funds contributed by a participating employer. Borrowers must use a CDA lender for their mortgage.
The State of Maryland will match participating employer contributions and other local award monies up to $2,500.State of Maryland government employees can receive only $1,250. Funds are to be used for downpayment and closing costs assistance in the form of a 0% deferred loan (repayment of funds is triggered by sale, transfer or refinance of house).
What do I need to know?
- Employers must be a designated House Keys participant and may stipulate eligibility criteria in addition to Maryland requirements. For a complete list of participating employers, click here. Ask your Human Resources Department if your employer participates in House Keys 4 Employees or have them contact DHCD to become a member.
- Homebuyer must use a Community Development Administration (CDA) mortgage, and must therefore meet the CDA limits on income and home acquisition cost.
- Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency prior to writing a sales contract. Click here for a list of counseling agencies.
- Homebuyers may use additional incentive programs totaling more than $2,500, but Maryland will not match funds past the initial $2,500.
For more information:
Maryland Department of Housing & Community Development
Phone: 1.800.638.7781
Website: www.mmprogram.com
Live Near Your Work
What are the benefits?
The Baltimore City Live Near Your Work Program is a partnership between employers and the City of Baltimore. The purpose of the program is to provide direct financial assistance for eligible employees' first home purchase in Baltimore City and to encourage homeownership near the place of employment. A minimum $2,000 grant or conditional grant to employees for settlement and closing costs to purchase homes in targeted neighborhoods near their employers. Baltimore City will now match up to $2,500 for employers that grant $2,500.
What do I need to know?
- Homebuyers are required to contribute a minimum of $1,000 cash toward the purchase of their home.
- Property must be the homebuyer’s primary residence.
- Homebuyer must earn their Homeownership Counseling Certificate from a City-approved counseling agency prior to writing a sales contract. Click here for a list of counseling agencies.
- The policies and procedures of Baltimore Housing's Office of Homeownership are applicable to this program.
- Employers have the right to create additional eligibility requirements and program benefits, as well as program restrictions, for their employees.
- If your employer participates in this program, contact your Human Resource office for eligibility and application information.
For a list of Live Near Your Work participating employers, click here.
Employees of Johns Hopkins University and Johns Hopkins Medical System
Employees of Johns Hopkins University and Johns Hopkins Medical System are eligible for the expanded JH LNYW program. Benefits up to $17,000 are available in specific targeted areas, and employees are urged to visit www.jhu.edu/lnyw for program boundaries, applications, and other information.
Employees of Coppin State University
Full-time employees of Coppin State University are eligible for $4,000 in homebuying assistance in specific targeted neighborhoods around the campus. Basic guidelines can be found here on our website. Employees should contact the Coppin Heights Community Development Corporation for details at 410.951.3622 or CHCDC@coppin.edu.
If Your Employer is Not Currently Participating in This Program
If your employer is not currently participating in this program, have your Human Resources Officer contact Baltimore Housing for more information. Employers must apply and be approved to participate in the Baltimore City Live Near Your Work Program. It is required that each employer provide matching grant funds and define the designated boundaries, which must be within Baltimore City limits. The employers are also responsible for accepting employee applications, verifying employment and determining the eligibility requirements for the program.
For more information:
Robert Bartolini
Baltimore Housing
Office of Homeownership
417 E. Fayette St., Suite 1125
Baltimore, MD 21202
Phone: 410.396.4159
Website: www.baltimorehousing.org
Smart Keys 4 Employees
What are the benefits?
This Maryland Department of Housing and Community Development (DHCD) settlement assistance program expands on the House Keys 4 Employees program to contribute additional funding to borrowers living near their place of employment as part of a focus on “smart growth.” All of Baltimore City is included.
Funds are to be used for downpayment and closing costs assistance in the form of a 0% deferred loan. The State of Maryland provides an additional $1,000 “bonus” on top of the HK4E matching contribution to employees of participating businesses. State of Maryland employees are eligible for this award as well. This $1,000 is a 0% deferred loan, which needs to be repaid when the home is sold or refinanced.
What do I need to know?
For more information:
Maryland Department of Housing & Community Development
Phone: 1.800.638.7781
Website: www.mmprogram.com
