The Buying into Baltimore Homebuying Fair for the East side is this Saturday, September 8, 2012 from 8:30am-4pm.
The event begins at Mergenthaler Vocational Technical High School (“Mervo”), located at 3500 Hillen Rd, Baltimore, MD 21218, with Check-in and Neighborhood tour sign up from 8:30-11am. There is a $15 per person charge to participate.
Home buying workshops are 9:00am-12:00pm, then narrated bus tours leave at 1:00pm & 1:15pm. You can tour on your own from 1-4pm when participating houses will be open. Participants must visit at least four of the open houses to qualify for the award.
What is the award? 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 will be eligible for the award funds 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. Click here for a list of housing counseling agencies.
- You must use this home as your primary residence.
- You close on your new home within 90 days from the event date. Contracts signed prior to the event will not be eligible for the award funds.
- Your property is within the fair boundaries.
- Your mortgage amount cannot exceed $417,000.
- You are encouraged to use a Fannie Mae or Freddie Mac approved lender.
- You must invest a minimum of $1,000 from personal funds/resources.
- Purchase contracts must be signed and dated after the “Buying into Baltimore” event, not before. Contracts signed prior to the event date will not be accepted.
You must be one of the first 50 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).
The boundary/dividing line is shown in the map above, and outlined below:
Boundary dividing line:
Starting from the North (Baltimore City/Baltimore County Line)…
- Head South on Charles St.
- To West on 29th St.
- To South on Howard St.
- To West on Camden St.
- To South on Russell St. and continue to County Line
So if you are considering buying a house in Baltimore, contact me to learn more!