First Mortgage Loan
This is a special program for purchasers of already renovated homes from St. Ambrose Housing Aid Center in Belair-Edison and in Barclay’s North Calvert Green.
Eligible homes are formerly vacant homes in developed by St. Ambrose Housing Aid Center in Belair-Edison, Telesis in Barclay or other formerly vacant homes on target blocks developed by Healthy Neighborhoods approved developers. There is no renovation work required. This loan is for purchase only. 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.
