Baltimore City Employee Homeownership Program

What is it?

This program is designed to assist employees of the City of Baltimore to become homeowners within the city limits.

Who is eligible?

All active employees of Baltimore City's agencies and quasi-agencies working for a minimum of 6 months.

What are the benefits?

$3,000 down payment and closing assistance with no annual income limits. An additional $750 is given for homes purchased in Healthy Neighborhoods target blocks. Borrowers purchasing homes in Healthy Neighborhoods target blocks must notify the Office of Homeownership in writing at the time of application.

What are the restrictions/loan terms?

Property must be located in Baltimore City. Mortgage loan may not exceed $417,000. Buyer must contribute at least $1,000 towards purchase and must use the property as the principal residence. Closing on the property must occur within 90 days of the contract date. Only one City employee per household may receive assistance. Loan is forgivable over 5 years, reducing 20 percent for each year of occupancy.