Project Reinvest Program

Project Reinvest Program is a deferred second loan for homebuyers in Baltimore, Maryland. NHS of Baltimore-administered DPA originally funded by NeighborWorks Project Reinvest, now expanded under State of Maryland's Reinvest Baltimore (BVRI/UPLIFT). $10,000-$15,000 forgivable second, 5-year, 80% AMI, 640 FICO, max purchase price $266,000, FTHB only. NHS lender + counseling required. Down payment assistance program administered by Neighborhood Housing Services (NHS) of Baltimore, originally funded under NeighborWorks America's 'Project Reinvest' allocation and now also encompassing the State of Maryland's REINVEST BALTIMORE Down Payment Assistance Program (NHS Baltimore selected by Maryland Community Investment Corporation in February 2026 to administer up to $3M of Reinvest Baltimore DPA funds under the FY26 Baltimore Vacants Reinvestment Initiative). Provides $10,000 fixed amount (up to $15,000 in current cycles) as a 0% interest 5-year forgivable second mortgage. Maximum purchase price $266,000 (per LendSquawk seed. current Reinvest Baltimore cycle aligns with BVRI redevelopment target prices). 80% AMI cap (income $62,600 1-person to $118,050 8-person per seed). First-time homebuyer. Must work with NHS-approved lender. NHS pre-purchase counseling required. Funding comes from Federal NeighborWorks, State, and Local Government.

Project Reinvest Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by 5-year forgiveness (typically 20%/year prorated). Unforgiven balance due on sale/transfer/cash-out refi/non-owner-occupancy within retention period. 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.

Project Reinvest Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Standard 3-year FTHB lookback; HUD displaced-homemaker / single-parent exceptions. On credit, the program states: 640 minimum FICO. A homebuyer education course is required, through NHS of Baltimore (HUD-approved housing counseling agency) - pre-purchase counseling required. Residency requirement: Property must be in Baltimore City and serve as primary residence. BVRI-funded redevelopment properties prioritized under Reinvest Baltimore cycle. Citizenship or immigration status: Per first-mortgage product rules. First-time homebuyer (no primary residence in past 3 years). Household income at or below 80% AMI for Baltimore HMFA. 640 minimum FICO. Must purchase property in Baltimore City (BVRI-funded properties prioritized under Reinvest Baltimore cycle). Maximum purchase price $266,000 (subject to current cycle/program guidelines). Owner-occupied primary residence. $1,000+ buyer contribution. Pre-purchase counseling certificate from NHS required (8+ hours; workshop + 1:1 counseling). Must use NHS-approved lender. 5-year retention period with prorated forgiveness.

Project Reinvest Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% AMI for Baltimore HMFA. Per LendSquawk seed: $62,600 (1-person) to $118,050 (8-person). Verify at nhsbaltimore.org/dpa/household-income-eligibility. 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.

Project Reinvest Program caps the purchase price at $266,000. Eligible property types include Single-family detached, Townhome, Rowhouse, and Condominium. New construction is eligible. Manufactured homes are not eligible.

Project Reinvest Program serves homebuyers purchasing in Baltimore, Maryland. The program targets specific areas: Baltimore City; BVRI-funded redevelopment properties prioritized under FY26 Reinvest Baltimore cycle. NeighborWorks Project Reinvest historically targeted disinvested neighborhoods.

Applications for Project Reinvest Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply through NHS Baltimore. Pre-qualification by NHS-approved lender; NHS issues commitment letter; funds reserved through NHS at first-mortgage rate-lock. First-come, first-served while program funds remain. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.