What is the Homeownership Incentives Program?
Baltimore has a program to help people buy homes in the city. This program gives money to homebuyers to make it cheaper to buy a house. It can help by reducing the costs you pay when closing on the house and by giving you extra money for a down payment.
To get these benefits, you need to take a homeownership class from a City-approved homeownership counseling agency within a year before you try to buy a home. You also need to put at least $1,000 of your own money towards the house. Most of the money is given as loans that you don’t have to pay back if you stay in your home for five years. However, there is one program called Live Near Your Work that gives money as a grant, which you don’t have to pay back.
Below is general information about our Incentives. If you have questions or need help, you can email DHCD.Homeownership@baltimorecity.gov or call 410-396-3124.
Incentive Programs
To register your account, sign in, and submit an application for an incentive program, visit our Applicant Portal. Keep in mind that your housing counselor and lender must complete the online application if you're applying for the First-Time Homebuyers Incentive Program.
Funding for incentives is planned each year based on the City’s fiscal calendar, which runs from July 1 to June 30. The chart below shows how many incentives or how much funding is still available for each program. Incentives are given out on a first-come, first-served basis. Make sure your settlement date is at least 30 days after you submit your application to allow enough time for processing.
Baltimore City Employee Homeownership Program
$5,000 or $10,000 for employees of City and quasi-City agencies who have been employed for at least six months.
First-Time Homebuyers Incentive (FTHIP)
Eligible first-time homebuyers at or below 80% of the area median income could receive 50% of the required down payment, GAP funding to reduce the loan balance and an Interest Rate Buydown up to 2.5%. An additional $5,000 bonus is available in certain circumstances. Learn More
Buying Into Baltimore
$5,000 awarded by lottery to people who attend a Live Baltimore Trolley Tour and meet other conditions.
Live Near Your Work
This partnership with participating employers encourages homeownership near places of employment. The City matches employers' contributions between $1,000 and $2,500, for total incentives of $2,000-$5,000+, depending on the employer.
Vacants to Value Booster
Baltimore City offers a $10,000 Vacants to Value Booster to help people buy and fix up homes that have been vacant for at least a year. To get the money, the home must have had a Vacant Building Notice for at least one year before a developer fixed it up or before a new owner bought it to renovate. You must show a Certificate of Occupancy when you apply.
Important Details to Provide
If you're applying for an incentive program, remember that you need to provide the Title Company’s Employer Identification Number (EIN) number so your application can be processed. You can find where to enter this number in the Neighborly Application portal under (H. Closing Information) in the application. If you don’t include this number, your application can’t be processed.
Please remember that checks for homeownership incentives usually take 10 to 15 business days to be sent out after your application is approved. It's a good idea to plan ahead and send in your application as early as you can, but make sure to do it at least thirty days before the closing date of your home.
Available Incentives or Remaining Fundings | |
|---|---|
| INCENTIVE PROGRAM | REMAINING INCENTIVES |
| Baltimore City Employee Homeownership Incentive | 90 |
| Buying Into Baltimore (Apply after participating in a Live Baltimore Trolley tour.) | 60 |
| First-Time Homebuyers Incentive | $895,567 |
| Live Near Your Work | 108 |
| Vacants to Value Booster | 85 |