Employer-Based Assistance

BRAC Incentive for Home Ownership in Baltimore City

There are great home buying incentives offered to people who are relocating to Greater Baltimore region. As an eligible candidate, you will get an amount of $6000 towards closing cost and down payment assistance. This incentive is offered by the Baltimore Housing and MD DHCD or the Maryland State Department of Housing and Community Development.

If you have participated in the Buying into Baltimore event at least once and have won the $3000 award towards closing cost and down payment assistance, then you are eligible for the $3000 loan from the State at 0% interest.

Homeownership Program for Employees in Baltimore City

This scheme is predominantly to help quasi-city and city agency employees to purchase a home in Baltimore. Under this scheme, beneficiaries are offered a forgivable loan of $3000 for a period of five years. 20% reduction is offered for every year of occupancy.

Eligibility criteria include being in the payroll of the Mayor and City Council of Baltimore City for at least six months.

Property purchased by the buyer must be within the Baltimore City and must be his primary residence and must not exceed the price of $417,000.

Property must be a single house, condominium or a one to two dwelling unit.

Only one member in a household is eligible for the scheme.

Investment of $1000 from personal funds is a must.

Buyer must have attended a city approved counselling agency's home ownership counselling program.

For detailed information on this scheme, contact: www.baltimorehousing.org.

House Keys 4 Employees

If the employer contributes funds for home buying for employees, the state of Maryland matches the funds through the DHCD or Maryland Department of Housing and Community Development up to an amount of $5000.

Funds obtained can be used by the buyer towards 0% deferred loan, closing costs and down payment. Buyers receiving funds from other such incentive programs like the Buying into Baltimore scheme are also eligible for this incentive.

In order to be eligible for this scheme, employers must be a participant in the designated House Keys. Buyers must complete home ownership counselling and go in for only a CDA mortgage.

Detailed information on this scheme can be found at www.mmprogram.com.

Smart Keys 4 Employees

This is an expansion of the House Keys 4 Employees program offered by DHCD. This scheme benefits buyers living close to their employment by offering additional funds. Funds in the form of 0% deferred loan can be used towards closing cost and down payment assistance. Employer's contribution of up to $5000 is matched by the State. To be eligible for this scheme, buyers must live within 10 miles from the place of employment and attend home ownership counselling.

Visit www.mmprogram.com for more details on this scheme.

Live Near Your Work

This scheme is offered in partnership between the City of Baltimore and employers. Direct financial aid is provided for first time home buyers in Baltimore city through this scheme. Minimum amount of $2000 is offered towards closing and settlement costs. A contribution of $1000 by employer will be matched by Baltimore City.

Buyer's contribution must be $1000 in cash. Buyers must use the property as primary residence and attend home ownership counselling. For details, visit www.baltimorehousing.org

Contact us to learn more about these programs.

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