Buying into Baltimore Fall 2013

Buying into Baltimore

Buying into Baltimore Fall 2013 is Saturday, September 21, 2013.

The event has moved, and begins at Baltimore Polytechnic Institute (Poly), located at 1400 W Cold Spring Lane, Baltimore, MD 21209.

Check-in begins at 8:30am, with homebuying workshops and CityLiving Fair beginning at 9am.

The narrated bus tour leaves at 1, while self guided tours, open houses, run from 12-4pm. Participants must visit at least four of the open houses to qualify for the award.

Advance registration is $10, but at the door, there is a $15 per person charge to participate.

What is the award? If you qualify, a $4,000 forgivable loan that after five years doesn’t have to be repaid, if you still live in the property you buy using that money as the primary owner.

How do you know if you qualify?

From the Live Baltimore website:

You are eligible for the $4,000 award if all of the following conditions are met:

A current homeownership counseling certificate is required. Counseling must be completed BEFORE signing a contract of sale.
You must use this home as your primary residence.
You must close on your new home within 90 days from the event date. (Contracts signed prior to the event will not be eligible for the $4,000 award.)
Your mortgage amount cannot exceed $417,000.
You must invest a minimum of $1,000 from personal funds/resources.

There is a 90-day timeframe from the day of the event in which homebuyers must go under contract on their home. Baltimore Housing’s website states you must CLOSE within 90 days of the event. Check with Baltimore Housing to be sure that you meet the 90 day requirement, whether just under contract or full closing.

You must be one of the first 30 people to meet these qualifications and submit your validated/stamped ticket, proof of homeownership counseling, signed contract of sale & photo ID to Baltimore Housing, Office of Homeownership (417 E. Fayette Street, Suite 1125, Baltimore, MD 21201).

If you are considering buying a house in Baltimore, contact me to learn more!

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