Overview
​Reinvest Baltimore is a coordinated effort between the State of Maryland, Baltimore City, and nonprofit and for-profit partners to eliminate concentrations of vacant properties, revitalize neighborhoods and maximize the economic potential and quality of life for residents in Baltimore City.
Governor Moore’s executive order​ calls for the establishment of the Baltimore Vacants Reinvestment Council (BVRC) which will tap key community, corporate, philanthropic and government leaders to leverage targeted investments to move at least 5,000 vacant properties into homeownership or other positive outcomes over the next five years (Fiscal Year 2025 to Fiscal Year 2029).
Reinvest Baltimore Eligible Neighborhoods
The Reinvest Baltimore program is offered in highly specific areas. Additionally Healthy Neighborhoods offers financing within and outside of some of these areas. We understand that it could be difficult to make sense of it all. But no worries - use the table below as a guide to see if neighborhoods are eligible for HNI's financing with an Reinvest Baltimore Rate Savings grant. For a list of all eligible properties click here.
| Eligible Neighborhoods for HNI's Reinvest Baltimore Rate Savings Financing | ||||
|---|---|---|---|---|
| Coldstream Homestead Montebello | Darley Park | East Baltimore Midway | Ellwood Park | Franklin Square |
| Harlem Park | Hollins Market/Mt. Clare | Johnston Square | Marble Hill | Mondawmin |
| Park Heights | Upton | West North Ave | Westport |
Reinvest Baltimore Affordability Resources
Explore Reinvest Baltimore homebuyer assistance, including down payment help and rate savings for eligible buyers in targeted Baltimore neighborhoods.
Downpayment Assistance Grant Program
Get up to $20,000 to help cover down payment and closing costs when purchasing a qualified home in Baltimore.
Interest Rate Savings Grant Program
Get a 3.5% interest rate on your 30-year fixed first mortgage when you purchase a qualified home in Baltimore.
Both the Reinvest Baltimore Down Payment Assistance and Interest Rate Saving grant programs connect neighborhood reinvestment with homeownership to help eligible buyers purchase renovated homes in communities where investment is restoring whole blocks and creating new opportunities for homeowners to invest in both their future and Baltimore’s.
Reinvest Baltimore Incentives Process Overview
Buying a home is a big commitment. It’s also one of the most exciting purchases you’ll ever make. Find out how to leverage the incentives available to you to make it as affordable as possible
Step 1: Sign-up for Homeownership Counseling and Earn Your Counseling Certificate
The downpayment assistance grant and nearly all other homebuying incentive programs require that you earn a Homeownership Counseling Certificate from an approved counseling agency. Certificates are good for one year. We recommend obtaining your certificate early in the process, so you aren’t delayed when you find your dream home! Counseling typically takes less than 10 hours of your time, starting with an eight-hour class and followed by a one- to two-hour one-on-one session. Some counseling agencies also offer self-paced, online classes and expedited one-on-one appointments.
Step 2: Choose a Mortgage Lender and Get Pre-Qualified
Working with a lender who is well-versed in the City’s financial incentive programs is critical to buying in Baltimore! Healthy Neighborhoods is experienced lender in Baltimore City and is the only lender offering a 3.5% interest rate through the Interest Rate Savings Grant program. Start the process with Healthy Neighborhoods today!Â
Step 3: Choose a Real Estate Agent
You will want an agent who can give you a local’s perspective and who knows the particulars of homebuying incentives, property taxes, tax credits, ground rent, and other aspects of homebuying in Baltimore City. Start your search for a real estate agent in Live Baltimore's directory of City Living Experts, who have each completed an accredited course on Baltimore City’s housing market through the Greater Baltimore Board of Realtors.
Step 4: Select and Make an Offer on a Property
Now for the fun part: house hunting! Find a list of all available properties eligible for both the Downpayment Assistance and Interest Rate Savings grant program here.Â
Step 5: Complete the Purchase Process
Once you’ve found your dream home, ensure it checks out. Consult your real estate agent and lender to determine which type of inspection you require.
Homeowners insurance must be secured before you close on your home. You typically must pay for one year of homeowners insurance up front, in addition to other fees due at settlement. As with all real estate partners, choose an insurance agent with whom you feel comfortable.
As your final loan is being approved, secure a title company to work with. A title company will review your new home’s ownership records to make sure there are no liens or outstanding legal issues surrounding the home. You have the right to choose a title company with whom you want to do business. Your lender or agent may recommend a title company.
After you sign the appropriate documents, you will be handed the keys to your new home. You are now a homeowner! Pack up your belongings and move in with the help of a trusted mover. Settlement paperwork should always be stored in a safe place. Don’t let it get lost during your move!
