ADDI is back!!!! $10,000 Forgivable Grant from Baltimore City September 26, 2008
Posted by Patti Shawgo in First Time Home Buyers, Local News, Mortgage News.2 comments
The American Dream Downpayment intiative, whose funds were temporarily suspended for most of 2008 is back!
This program gives low to moderate income home buyers $10,000 towards closing costs/downpayment and has a lot of great features.
Here’s a quick overview, for more specific questions, just email me at patriciacshawgo@gmail.com:
- Buyer must complete an in-person class with a Baltimore City approved housing counseling agency BEFORE going under contract
- Buyer must contribute $1000 towards closing
- Funds count as buyer’s required contribution for FHA!!
- Income Limits:
1 person $43,050.
2 person $49,200.
3 person $55,350.
4 person $61,500.
5 person $66,400.
6 person $71,350.
7 person $76,250.
8 person $81,200.
Buying into Baltimore Trolley Tour: $3000 towards closing costs September 3, 2008
Posted by Patti Shawgo in Events, First Time Home Buyers, Interesting Stuff, Local News, Mortgage Stuff, Real Estate.1 comment so far
Every fall and spring, Live Baltimore has a housing fair & trolley tour of neighborhoods in the east half of Baltimore (fall) and the west half of Baltimore (spring). This fall’s trolley tour is on Saturday, September 13th, 2008 with the tour running from 10:45am-1pm.
The tour consists of visiting houses for sale in East Baltimore neighborhoods, at each trolley stop you collect a stamp. Collect 4 stamps and at the end get a voucher for $3000 if you go under contract for a home in the eastern half of Baltimore City with in 90 days. You do need to take a home buyer education class before going under contract.
Some great things about this program is that it can be used in conjunction with many of the programs I talk about on this blog. Better yet, there is no income limit! You must be purchasing a housing under $417,000, but unlike any other home buyer grant program, there is no income limit for this program. Plus, it is just about the only funds that can be used if you are getting an FHA 203k rehab loan.
Now, I will not be at the home buyer fair portion, but I hope you will still remember who told you about this great way to get $3000 for you closing costs!
Get all the details and register for the tour here: http://www.livebaltimore.com/bibeast/
