Greater Baybrook Alliance Homebuyers Assistance Program

Homebuyers must purchase a home in the Brooklyn and Curtis Bay neighborhoods. The Greater Baybrook Alliance (GBA) can provide forgivable loans of up to $15,000 to qualified borrowers (one loan per property). The base amount of assistance is $10,000. As part of GBA’s Live Near Your Park incentive, homebuyers can receive an additional $5,000 when they choose to purchase a home on specific blocks close to selected parks. A determination on whether a homebuyer is eligible for the $5,000 will be made upon completion and submission of their application to the program.

PROGRAM BENEFIT

This program reduces the amount of money you’ll need up-front to buy your home.

ELIGIBILITY & LIMITATIONS:

• You must earn a homeownership counseling certificate from a City-approved or HUD-approved counseling agency before making an offer on your home. *City-approved homeownership certificates are valid for 12 months from the date of completion.
• You must live in this home as your primary residence
• You must apply and be approved prior to closing on your home. Program funds are not retroactive
• Federal Housing Administration (FHA) does NOT currently allow their loan products to be layered with GBA’s Homebuyers Assistance Program.
• Some primary mortgage lenders do not allow for GBA’s homebuyers’ assistance to be used with their mortgage products. It is the responsibility of the homebuyer to confirm that our assistance can be used alongside their primary mortgage.
• Not limited to first-time homebuyers

ADDITIONAL REFERENCES & RESOURCES

Program Terms & Conditions

Program Application

Program Flier (English)

Program Flier (Spanish)

PROGRAM CONTACT

Greater Baybrook Alliance

301-778-8525

Email
Website