Healthy Neighborhoods Refinance Program
- Refinance
- Baltimore City
Summary
The Healthy Neighborhoods Refinance Program in Maryland is a program designed to provide assistance to homeowners in designated Healthy Neighborhoods areas who are looking to refinance their current mortgage. The program offers eligible borrowers up to $10,000 in closing cost assistance, a reduced interest rate, and reduced mortgage insurance premiums. The goal of the program is to make homeownership more affordable for low- and moderate-income households in areas designated as Healthy Neighborhoods. To be eligible, homeowners must meet income requirements, live in a designated Healthy Neighborhood, and have a credit score of at least 620.
Eligibility Requirements
- The applicant(s) must own the property and have a clear title to the property.
The property must be located in a designated Healthy Neighborhoods target area in Baltimore, Maryland. - The applicant(s) must have an existing mortgage on the property and be current on all mortgage payments.
- The refinance must be used to improve the property or reduce the homeowner's monthly mortgage payments.
- The applicant(s) must have a household income that is at or below the program's income limits, which vary depending on the size of the household.
- The applicant(s) must also have a minimum credit score of 580, have homeowner's insurance, and have the ability to repay the refinanced loan.
Contact Information
Healthy Neighborhoods
11 East Mt Royal Avenue, Suite 302
Baltimore, MD 21202
410-332-0387