New Baltimore County program, get up to $35,000 in FORGIVABLE grants October 16, 2007
Posted by Patti Shawgo in First Time Home Buyers, Interesting Stuff, Local News, Mortgage News, Real Estate.Tags: Baltimore County, cda, down payment assistance, dselp, mortgages, Real Estate
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Baltimore County has a brand new program to encourage home ownership in certain areas of the county, and luckily, I work for one of the banks that can offer this pilot program.
Yes, there are guidelines which you must meet in order to qualify, but if you do qualify, man oh man is this a spectacular deal. You can use this program in conjunction with a CDA & More House 4 Less loan or other loans if you prefer.
You must be buying in certain areas, but the areas are all over the county: Rosedale, Essex, Randallstown, Pikesville, Parkville, Gwynn Oak, Loch Raven Village, and more.
The limiting factor of this program is the income: You must make 80% of the area’s median income or below. Which for Baltimore County is currently the following:
| Household Size |
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| Income Limit | $40,800 | $46,600 | $52,450 | $58,250 | $62,900 | $67,550 | $72,150 | $76,800 |
Interested in finding out more? Call me at 443-802-6864 or email patriciacshawgo@gmail.com
[...] Parkville is in the areas that are targeted Baltimore County’s new down payment & closing cost assitance program, that I talked about in this post: http://mdrealestate.wordpress.com/2007/10/16/new-baltimore-county-program-get-up-to-35000-in-forgiva... [...]
I own a house in Towson that is quite antiquated and in need of serious renovation. How can I apply for this grant?
Wade, the grant is for people that are purchasing homes, but it sounds like a rehab loan might be the answer for what you are trying to do.
or if you have owned your home for some time, you could also take some cash out for the purposes of renovations by either refinancing or getting a home equity line.
I’d like to see a single homeowner who makes under $40,800 afford the cost of homeownership in the state of MD. Yes, I am a young professional who barely makes over the highest allowable income. I guess Baltimore County determines I can afford a house easier since I make $41,000 a year!
Hi, I wanted to know how important credit issues are in receiving this grant? Also how do you apply for it?
I found the information.
Hello Patti,
I am interested in purchasing a house in the Randallstown area. My wife and I just had our first child and were hoping that we can make use of a home buying program, since we qualify as first time home buyers.Please feel free to contact me with any assistance/information that you can you provide.
Thank you.
Dear Patti,
I have spent countless hours searching on line for a real legitimate grant program for my small business. i know your in realestate but i thought maybe you can help me. This has been my husband’s lifelong dream to have a comic book shop for the young kids to come in from the cold or the hot temperturs and feel safe, read comic books, watch Nascar or to play board games. There is not many places like that in neighborhoods in Baltimore county. The shop is dedicated to our church minister who had a “coffeehouse” for the kids in the neighborhood to have a meeting place that was safe and comfortable. We welcome everyone but not too many adults read comics they mostly like the nascar theme aspect of the store. We would like to get information on grant programs so we can stay open. Is there any way you can direct me on where to reserach this please…
Thanks for all your help
Is this also still avaialble in 2009?