First-Time Homebuyers Incentive Program

The First-Time Homebuyers Incentive Program (formerly Community Development Block Grant (CDBG) Homeownership Assistance Program) provides $10,000 in down payment and closing cost assistance to eligible first-time homebuyers purchasing a home in Baltimore City. First-time homebuyers purchasing in City-designated “Impact Investment Areas” can receive an additional $10,000, for a total of $20,000 in assistance.

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 before making an offer on your home.
• You must live in this home as your primary residence.
• You must contribute at least $1,000 of your own money to your home purchase.
• Your mortgage amount cannot exceed the current FHA mortgage limit of $517,500 for a single-family home.
• You must apply and be approved prior to closing on your home. Program funds are not retroactive.
• Household income cannot exceed 80% AMI
• First-time homebuyers only
• Requires a “Housing Quality Standard” (HQS) inspection
• Fixed-rate mortgages only. Co-signers, cash sales, and owner-financing are not permitted.

PROGRAM CONTACT

Baltimore City Department of Housing and Community Development, Office of Homeownership
Brenda Winston
(443) 984-2264
Email
Website