Buying a home Baltimore just became a little sweeter for homebuyers looking on the east side.
The Housing Authority of Baltimore City sent a press release out this morning with this great announcement that 50 eligible buyers participating in the Buying into Baltimore event on September 11, 2010 will receive $4,000 towards their new home, an increase of $1,000 over the past 13 years of the program. These are 5 year forgivable loans, meaning that if the buyers remain in the home for 5 years, they will not have to repay.
The Spring Buying into Baltimore Fair was held on May 8, and was a great success.
September’s Buying into Baltimore Event & Tour will begin at Mergenthaler Vocational Technical High School on Hillen Road in Baltimore from 8:30 am – 2 pm.
From the press release:
To receive the money, participants must:
1) live in the desired home as the primary owner/occupant,
2) possess a valid homeownership counseling certificate,
3) participate in the “Buying into Baltimore” tour and have the tour ticket validated at four homes,
4) buy in the eastern part of Baltimore (see Live Baltimore website for boundary details),
5) purchase a home that is less than $417,000, and
6) sign the home sales contract after the event takes place.
Funds are distributed on a first-come, first-served basis. Participants must close on a house within 90 days of the eastern region fair to receive the $4,000 award. There are no income restrictions on this program, nor does a recipient have to be a first-time homebuyer.
The Boundaries, from the Live Baltimore website are:
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 East Baltimore City, contact me to learn more!