What is the Homeownership Incentives program?
Baltimore has a program to help people buy homes in the city. This program gives money to homebuyers to make it cheaper to buy a house. It can help by reducing the costs you pay when closing on the house and by giving you extra money for a down payment.
To get these benefits, you need to take a homeownership class from a City-approved homeownership counseling agency within a year before you try to buy a home. You also need to put at least $1,000 of your own money towards the house. Most of the money is given as loans that you don’t have to pay back if you stay in your home for five years. However, there is one program called Live Near Your Work that gives money as a grant, which you don’t have to pay back.
Below is general information about our Incentives. If you have questions or need help, you can email DHCD.Homeownership@baltimorecity.gov or call (410) 396-3124.
Available Incentives
To register your account, sign in, and submit an application for an incentive program, visit our Applicant Portal. Please note that your housing counseling agency and lender must complete the online application if you are applying for the First-Time Homebuyers Incentive Program.
Incentives are budgeted annually for the City's fiscal year, which begins July 1 and ends June 30. The chart below shows incentives that are currently available for each program. Incentives are on a first-come first-served basis. Be sure to schedule settlement at least 30 days out from submitting an application for available incentives.
Baltimore City Employee Homeownership Program
$5,000 or $10,000 for employees of City and quasi-City agencies who have been employed for at least six months.
First-Time Homebuyers Incentive
The base incentive is $10,000 for first-time homebuyers with a household income at or below 80% of the area median income. An additional $5,000 is available to homebuyers who (a) purchase the house they have rented and occupied for at least six months, or (b) have a disability.
Buying Into Baltimore
$5,000 awarded by lottery to people who attend a Live Baltimore Trolley Tour and meet other conditions.
Live Near Your Work
This partnership with participating employers encourages homeownership near places of employment. The City matches employers' contributions between $1,000 and $2,500, for total incentives of $2,000-$5,000+, depending on the employer.
Baltimore City also offers a Vacants to Value Booster - $10,000 incentive for properties that were subject to a City-issued Vacant Building Notice (VBN) for at least one year prior to (a) rehabilitation of the property by a developer, or (b) sale of the property to a homebuyer who intends to renovate the property using an acquisition/rehabilitation loan. A Certificate of Occupancy for the property must be submitted at the time of application.
_______________________________________________________
If you're applying for an incentive program, remember that you need to provide the Title Company’s EIN number so your application can be processed. You can find where to enter this number in the Neighborly Application portal under (H. Closing Information) in the application. If you don’t include this number, your application can’t be processed.
Please remember that checks for homeownership incentives usually take 10 to 15 business days to be sent out after your application is approved. It's a good idea to plan ahead and send in your application as early as you can, but make sure to do it at least thirty days before the closing date of your home
| INCENTIVE NAME | REMAINING INCENTIVES (as of 11/04/2024) |
|---|---|
| Baltimore City Employee Homeownership Incentive | 37 |
| Buying Into Baltimore (Apply after participating in a Live Baltimore Trolley tour.) | 57 |
| First-Time Homebuyers Incentive | 52 |
| Live Near Your Work | 100 |
| Vacants to Value Booster | 40 |