Vacants to Value (V2V) Booster

What is Vacants to Value (V2V) Booster?

Vacants to Value (V2V) Booster is a forgivable loan for homebuyers in Baltimore, Maryland, administered by Baltimore City Department of Housing and Community Development (DHCD), Office of Homeownership.

• The Vacants to Value (V2V) Booster is a $10,000 down payment/closing-cost incentive from Baltimore City DHCD, structured as a five-year forgivable loan, for buyers purchasing eligible formerly-vacant city properties that carried a Vacant Building Notice for at least one year. No income restriction and not limited to first-time buyers; buyers use a fixed-rate mortgage, contribute at least $1,000, complete counseling before offer, and occupy as primary residence.
• $10,000 toward down payment/closing costs.
• Five-year forgivable.
• No income restriction.
• Not FTHB-restricted.
• Stackable with B-HiP.

How much assistance does it provide?

Vacants to Value (V2V) Booster offers between $10,000 and $10,000 in assistance.

• Buyer contribution: Buyer must contribute at least $1,000 of own funds.
• The program can be combined with Other Baltimore City B-HiP incentives and Maryland Mortgage Program incentives.
• Amounts are the program's published maximums, not an offer — Baltimore City Department of Housing and Community Development (DHCD), Office of Homeownership determines any individual award.

Do you have to pay it back?

Vacants to Value (V2V) Booster is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Five-year forgivable loan (forgiven 20%/yr of owner-occupancy); repaid if sold or no longer primary residence before forgiveness.
• The assistance is recorded in Subordinate lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Vacants to Value (V2V) Booster is open to buyers who will live in the home as their primary residence.

What are the income limits?

Vacants to Value (V2V) Booster sets its income limit as follows: No household income restriction.

• 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?

Vacants to Value (V2V) Booster caps the purchase price as follows: Mortgage amount cannot exceed the current FHA single-family limit ($731,400).

• Eligible property types include Single Family and Townhouse.
• New construction is not eligible.
• Manufactured homes are not eligible.

Where does it apply?

Vacants to Value (V2V) Booster serves buyers purchasing in Baltimore, Maryland.

• The program targets specific areas: Formerly-vacant properties (1+ yr Vacant Building Notice) within Baltimore City.

How do you apply?

Applications for Vacants to Value (V2V) Booster go through Baltimore City Department of Housing and Community Development (DHCD), Office of Homeownership, 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 City-approved counseling agency certificate, earned before making an offer (valid 12 months).

2. 2

   Contact Baltimore City Department of Housing and Community Development (DHCD), Office of Homeownership to reserve funds

   Funds are reserved through First-come, first-served via Neighborly; apply at least 30 days before settlement; not retroactive, 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.