Healthy Neighborhoods Purchase & Rehabilitation Loan

Healthy Neighborhoods offers a loan to help you purchase and renovate your new house on Healthy Neighborhoods’ target blocks.  Eligible homebuyers receive a below-market interest rate, free design advice, and no private mortgage insurance requirement.

PROGRAM BENEFIT

This program allows you to borrow money to buy and renovate your home; For income-eligible borrower’s, you may also qualify for a matching grant of up to $10,000.

ELIGIBILITY & LIMITATIONS

• You must live in this home as your primary residence.
• You must contribute 3% of the purchase price + renovation costs and may borrow up to 110% of the after-rehabilitation appraisal.
• You may not own residential rental property. Individuals that have rental property as a result of inheritance or moving, can still use the program.
• You must use M&T Bank, through the M&T Loan Officer assigned and officed at Healthy Neighborhoods.
• Your mortgage amount cannot exceed $295,000.
• Your property must be on a Healthy Neighborhoods target block.
• May be used in addition to other incentives
• All contractor construction contracts and rehab work will be monitored and approved by Healthy Neighborhoods.

Program Terms & Conditions

PROGRAM CONTACT

Healthy Neighborhoods
(410) 332-0387 x1005
Email
Website