The refinance and renovate loan is available for eligible borrowers living on a target block within a Healthy Neighborhood.
Eligible Borrowers must also use this loan to make improvements to the property in conjunction with the refinance. Click here for a list of the target blocks that are eligible for this loan. The loan carries a fixed interest rate that’s always 1% below the 60-day Fannie Mae rate but in no event less than 4%. Buyers may borrow as much as 110% of the after-rehabilitation appraisal of the property. No private mortgage insurance is required. Design assistance from an architectural firm is available to help buyers plan improvement and review contractor proposals.
$10,000 Matching Rehab Grant
In combination with our Refinance and Renovation loan, borrowers may be eligible for a matching grant of up to $10,000. Income restrictions apply. Click “Learn More” below to check your income eligibility.
For more information, contact Rahn Barnes at rbarnes@healthyneighborhoods.org or 410-332-0387 ext. 1005
