Vacants to Value Booster
- Downpayment & Closing Cost Assistance
- Baltimore City
Summary
The Vacants to Value Booster program is available for properties that have been issued a vacant building notice for at least one year prior to undergoing rehabilitation by a developer or being sold to a homebuyer with the intent of utilizing a rehabilitation loan for renovation purposes.
Eligibility Requirements
- The property must be the homeowner’s primary residence.
- The homeowner must receive a homeownership counseling certification prior to making an offer to buy the property.
- The homeowner must contribute a minimum of $1,000 of their own funds to the purchase of the property.
- The mortgage must be a fixed-rate mortgage.
- The mortgage amount cannot exceed the current FHA mortgage limit of $517,500.
- The homeowner must apply and be approved prior to closing on the home.
Contact Information
Baltimore City Department of Housing and Community Development
Office of Housing and Homeownership
Phone: 410-396-4160