First-Time Homebuyers Incentive Program

First-Time Homebuyers Incentive Program es un préstamo condonable para compradores de vivienda en Baltimore, Maryland. Foundational Baltimore City DPA incentive: $10,000 forgivable second for first-time buyers, 5-year 20%/year forgiveness, 80% AMI cap, Baltimore City only. Pairs with MMP and FHA/VA/USDA/conventional first mortgages. $10,000 down payment and closing cost assistance for first-time homebuyers in Baltimore City (formerly $5,000. DOUBLED to $10,000 by Mayor Brandon Scott in April 2023). Structured as a 0% interest 5-year forgivable second mortgage, forgiven 20% per year over 5 years of continued owner-occupancy. Formerly known as the Community Development Block Grant (CDBG) Homeownership Assistance Program. 80% AMI household income cap. First-time homebuyers only. Property must be in Baltimore City. Buyer must contribute $1,000+ of own funds. Homeownership counseling certificate from city-approved agency required (valid 12 months). Pairs broadly with Maryland Mortgage Program (MMP) and other FHA/VA/USDA/conventional first mortgages. Foundational stackable Baltimore City incentive that other DHCD bonuses (Direct Homeownership Assistance +$5,000 for renters/disabled households) layer on top of. Los fondos provienen de Federal CDBG y Local Government.

First-Time Homebuyers Incentive Program se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Forgiven 20%/year over 5 years of continuous owner-occupancy. Prorated unforgiven balance due on sale, transfer, cash-out refi, or non-owner-occupancy within 5 years. La ayuda se registra con un gravamen en posición 2. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

First-Time Homebuyers Incentive Program está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: Single-parent / displaced-homemaker exceptions per HUD definition. Sobre el crédito, el programa indica: No DHCD-published FTHIP minimum; first-mortgage lender's product minimums apply (typically 620-640). Se requiere un curso de educación para compradores de vivienda, a través de Baltimore City-approved homeownership counseling agencies: NHS of Baltimore, Druid Heights CDC, Belair-Edison Neighborhoods, Southeast CDC, GO Northwest, St. Ambrose Housing Aid Center, Diversified Housing Development. Requisito de residencia: Property must be in Baltimore City corporate limits and serve as primary residence. Ciudadanía o situación migratoria: U.S. citizen or eligible non-citizen per first-mortgage product rules. First-time homebuyer (no primary residence ownership in past 3 years; displaced-homemaker / single-parent exceptions per HUD). 80% AMI household income cap. Owner-occupied primary residence. Property must be in Baltimore City limits. $1,000 minimum buyer contribution from own funds. Homeownership counseling certificate (workshop + counseling session) from city-approved agency, valid 12 months. Fixed-rate first mortgage only (no ARMs, balloons, cash, owner-financing, co-signers). Mortgage cannot exceed FHA loan limit ($731,400). Housing Quality Standard (HQS) inspection required. Apply and be approved before closing.

First-Time Homebuyers Incentive Program limita el ingreso del hogar al 80% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income at or below 80% AMI for Baltimore HMFA, by household size. Approximate 2026 80% AMI: $68,450 (1-person) to $129,050 (8-person). Verify current at livebaltimore.com/annual-median-income-limits-for-baltimore-city. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

First-Time Homebuyers Incentive Program limita el precio de compra así: First-mortgage amount cannot exceed FHA loan limit for Baltimore MSA ($731,400 single-family). Los tipos de propiedad elegibles incluyen Single-family detached, Townhome, Rowhouse, Condominium y 2-4 unit owner-occupied. La construcción nueva es elegible. Las viviendas prefabricadas no son elegibles.

First-Time Homebuyers Incentive Program atiende a compradores de vivienda que compran en Baltimore, Maryland.

Las solicitudes de First-Time Homebuyers Incentive Program se tramitan a través de la agencia que administra el programa, que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de Apply online via Baltimore Applicant Portal (https://applicantportal.dhcd.baltimorecity.gov). First-come, first-served subject to fund availability. Pre-approval required before closing. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.