Newest CDA Programs!

For June Homeownership Month:

• The Save-A-Home Loan Program (formerly the Homeward Bound Program) is offering reduced interest rates for short sales and non-DHCD-owned foreclosures for reservations made on or after 10:00 a.m. on May 31, 2012 through June 30, 2012.

In Non-Targeted Areas:
o The interest rate will be .75% below the regular Maryland Mortgage Program (MMP) non-targeted interest rate, with a floor of 3.25% (APR 4.082%).

In Targeted Areas:
o The interest rate will be 2.875% (APR 3.675%).

• $30 Million Targeted Areas Initiative:

o Interest rate of 2.875% (APR 3.675%)
o Effective for loans reserved on or after 10:00 a.m. on May 31, 2012 and continuing until the allocated funds have been expended.
o Additional incentives and resources offered by the following partners can be combined with MMP loans and benefits to maximize savings for homebuyers in Baltimore City. The partnership of State and City allows for the best homeownership initiative and lowest interest rates in the history of the Maryland Mortgage Program (MMP).
>> Baltimore City Housing Authority has a Vacants-to-Value initiative, which can include significant downpayment assistance. Click here to go to the Baltimore City website for more information.
Healthy Neighborhoods, Inc. (HNI) helps strong but undervalued neighborhoods increase home values, market their communities, create high standards for property improvement and build strong connections among neighbors. HNI offers two major home buying programs.
>> The Healthy Neighborhoods Loan Program offers low-interest loans to acquire/rehab, refinance/rehab, or make home improvements to residential property. Incentives include a 3% down payment, loan amounts up to 110% of after-rehab value, no private mortgage insurance, and free design advice.
>> The Neighborhood Stabilization Program offers:

1) $6,000 in closing cost assistance when purchasing a home that is fully renovated by an approved developer partners; and
2) $25,000 to purchase a foreclosed, abandoned or short-sale property in a targeted neighborhood.

More information on Healthy Neighborhoods, Inc., can be found on www.healthyneighborhoods.org.
Live Baltimore is the most comprehensive organization focused on Baltimore City Living. It aims to market the City of Baltimore as a great place to live and grow the city's population. Live Baltimore offers numerous education and marketing outreach to the public and details can be found on the organization’s website, www.livebaltimore.com .

You do not need to be a first-time homebuyer to purchase in Targeted Areas.
DON’T FORGET OUR DOWNPAYMENT AND SETTLEMENT EXPENSE PROGRAM! For more information, contact us. Partner Match Programs can qualify for these incentives, too!