Purchase & Rehab Loan


The purchase and rehab loan is available for eligible borrowers purchasing a home 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 purchase. 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%. After contributing 3% of the purchase price from their own funds, buyers may borrow the balance of funds needed to buy and renovate the home, 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 at no cost to help buyers plan improvement and review contractor proposals.


$10,000 Matching Rehab Grant

In combination with our Purchase and Rehab loan or Home Improvement loan, borrowers may be eligible for a matching grant of up to $10,000.  Restrictions apply. For more information, contact Rahn Barnes at rbarnes@healthyneighborhoods.org or 410-332-0387 ext. 154


Frequently Asked Questions

Can I get a pre-qualification letter?

If you have not made an offer on a certain property, yes. Please contact us and we will arrange it with our lender.

How long should the term of my contract of sale be?

The process will take at least 45 days. If the renovation work you propose to complete is complex, it may take longer. We recommend a 60-day contract.