First-Time Homebuyers Incentive Program

At a Glance
$10,000 down payment and closing cost assistance, 5-year forgivable loan
Who's Eligible?
Baltimore City homebuyers who meet income and other program requirements
To Get Started:
Complete homeownership counseling and a program application

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. Participants who qualify for this program, may also qualify for the Direct Homeownership Assistance 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 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 $583,050 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

We're here to help.

Have more questions about this or other Baltimore City homeownership incentives? We're here to help! Send us an email or give us a call at (410) 637-3750. A Live Baltimore team member can walk you through your options.
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