First-Time Homebuyers Incentive Program

The First-Time Homebuyers Incentive Program (formerly Community Development Block Grant (CDBG) Homeownership Assistance Program) typically provides $10,000 to $20,000+ in down payment and closing cost assistance to eligible first-time homebuyers purchasing a home in Baltimore City. The amount awarded is dependent on household income, closing costs, monthly mortgage payment, and home sales price. 

The Direct Homeownership Assistance Program provides an additional $5,000 bonus is available to homebuyers who (a) purchase the house they have rented and occupied for at least six months, or (b) have a disability or have a household member with a disability.

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 counseling agency before making an offer on your home. This certificate is awarded only after you complete a homeownership workshop AND a counseling session. *Homeownership certificates are valid for 12 months from the date of completion.
• 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 $731,400 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
(410) 396-3124
Email
Website