- Downpayment & Closing Cost Assistance
- Baltimore City
Summary
The Baltimore City Down Payment and Settlement Expense Loan Program (DSELP) is a program of the State of Maryland that provides eligible homebuyers with 0 percent deferred second mortgage loans to cover settlement expenses when applicants use a CDA Maryland Mortgage Program. This loan covers settlement expenses above the borrower's minimum equity capital contribution on a first mortgage loan that is the maximum mortgage amount permitted by the mortgage loan guarantor, with up to $3,000 available at a 0% interest rate. However, it should be noted that the Settlement Expense Loan Program (SELP) provides assistance to low and moderate income, first-time homebuyers in Baltimore County and not in Baltimore City.
Eligibility Requirements
- The applicant(s) must be a first-time homebuyer or have not owned a home in Baltimore City in the last three years.
- The applicant(s) must have a credit score of at least 640.
- The applicant(s) total household income must not exceed the program’s income limits, which vary based on household size and location. As of 2023, the income limits range from $61,050 for a one-person household to $115,150 for a household of eight or more people.
- The applicant(s) must contribute at least $1,000 towards the purchase of the home.
- The applicant(s) property being purchased must be a single-family home, townhome, or condominium located in Baltimore City and must be the buyer's primary residence.
- The applicant(s) must complete a homebuyer education course prior to closing on the home.
Contact Information
Baltimore City Department of Housing and Community Development
417 E. Fayette Street, Room 1126
Baltimore, Maryland 21202
Phone: 410-396-3124
Email: homeownership@baltimorecity.gov