This is a special program for purchasers of already renovated homes from approved developers in Healthy Neighborhoods eligible areas.
Eligible homes are formerly vacant homes developed by approved developers (see more about developer approval process below) in eligible Healthy Neighborhoods. There is no renovation work required for the home-buyer upon purchase. The interest rate will be fixed at 1% below the 60-day Fannie Mae rate, but never less than 4%. The term is 30 years. The loan requires no private mortgage insurance and a minimum of 3% down payment.
Looking for a home that is renovated and move-in ready?
Stay tuned for listings of approved houses.
Are you a Developer with an Eligible Project?
Join us in our mission to increase values in Baltimore City neighborhoods and reduce vacancies. Eligible developers can partner with Healthy Neighborhoods to get homeowners into properties across the city. We work with developers by providing loans to eligible homeowners that have favorable terms (like 1% below-market interest rates, minimum 3% home down payment, and no private mortgage insurance). We have worked with hundreds of homebuyers across 50+ neighborhoods in Baltimore City. Fill out the form linked below to see if you are interested in having your project potentially becoming eligible for homebuyers to use a Healthy Neighborhood loans.
Contact Rahn Barnes with questions about the program or the application:
- Phone: 410-332-0387 ext 1005
- Email: rbarnes@healthyneighborhoods.org
