Baybrook Boost

What is Baybrook Boost?

Baybrook Boost is a forgivable loan for homebuyers in Baltimore, Maryland.

• Brooklyn/Curtis Bay (Baybrook) DPA: $10,000 forgivable second + $5,000 Live Near Your Park bonus = up to $15,000. 5-year forgivable, 0%, 80% AMI, FTHB and repeat buyers, Baltimore City Baybrook only. Administered by Greater Baybrook Alliance.
• $10,000 forgivable second mortgage for buyers purchasing in the Brooklyn or Curtis Bay neighborhoods of Baltimore City (the 'Baybrook' area, south of the Patapsco). PLUS additional $5,000 'Live Near Your Park' incentive available for eligible properties on or directly adjacent to a public park / green space (combined Baybrook Boost up to $15,000). Funds may be used toward down payment, closing costs, principal reduction, or rehabilitation. 0% interest, 5-year forgivable retention period (forgiven 20%/year). 80% AMI household income cap. Open to first-time AND repeat buyers. Owner-occupied primary residence. Buyer must contribute $1,000+ of own funds. Homeownership counseling certificate from city-approved agency required. Administered by Greater Baybrook Alliance (GBA) in partnership with Live Baltimore and Baltimore City DHCD. Funded through state Baltimore Regional Neighborhood Initiative (BRNI), GBA foundation funding, and other community-development sources.
• Funding comes from State, Foundation, and Local Government.

Do you have to pay it back?

Baybrook Boost is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by 5-year forgiveness (20%/year). Prorated unforgiven balance due on sale/transfer/cash-out refi/non-owner-occupancy within 5 years.
• The assistance is recorded in 2 position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Baybrook Boost is open to buyers who will live in the home as their primary residence.

What are the income limits?

Baybrook Boost limits household income to 100% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI for Baltimore HMFA. ~$68,450 (1-person) to $129,050 (8-person) per seed.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Baybrook Boost caps the purchase price as follows: No GBA-published purchase-price ceiling; subject to first-mortgage limits.

• Eligible property types include Single-family detached, Rowhouse, Townhome, and Condominium.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Baybrook Boost serves buyers purchasing in Baltimore, Maryland.

• The program targets specific areas: TARGETED NEIGHBORHOODS: Brooklyn and Curtis Bay (Baybrook area) of Baltimore City. Live Near Your Park bonus tier targets properties on/adjacent to public parks (Filbert Street Garden, Curtis Bay Park, Garrett Park, etc.).

How do you apply?

Applications for Baybrook Boost go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Baltimore City-approved homeownership counseling agencies (NHS, Druid Heights, Belair-Edison, Southeast CDC, GO Northwest)..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply through Greater Baybrook Alliance / Live Baltimore. Pre-approval required before closing., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.