Refinance & Renovate

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 at no cost 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 or 410-332-0387 ext. 1005