Applications reopened for 'Buy Back the Block'

You could be grabbing  a $15,000 purchase grant and a $20,000 grant to purchase and renovate your new home! In 2024, Live Baltimore awarded more than $750,000 to first-time homebuyers and they’re doing it again. The nonprofit is reopening applications for its “Buy Back the Block” home purchase grant program, where they provide grants to Baltimore City residents to assist them with upfront costs of buying a home.

To be eligible for the grant, residents must have lived in a grant-eligible area for at least 12 months and intend to purchase a home anywhere within the eligible area.  Grant recipients must complete homeownership counseling with an approved Baltimore City agency and work with a Live Baltimore-approved lender. 

Eligibility Criteria

To be eligible for the Buy Back the Block program, the following requirements must be met:

• You must currently live in and purchase a home in the Baltimore City grant-eligible area.

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• You must have lived in your current primary residence within the grant-eligible area for at least 12 months before entering into a purchase agreement.
• You must earn a homeownership counseling certificate from a City-approved counseling agency before making an offer on your home.
• You must work with a program-approved mortgage lender to obtain a fixed-rate mortgage.
• You can not currently own any real estate.
• You must be able to contribute at least $1,000 of your own funds to a home purchase.
• Your gross household income cannot exceed $140,760 or 120% AMI, whichever is greater.

PROGRAM CONTACT

The Buy Back the Block program is administered by Live Baltimore in partnership with the City of Baltimore. Funding for Buy Back the Block is made possible through an award from the Mayor and City Council of Baltimore, as well as a grant from the Mayor’s Office of Recovery Programs.

(410) 637-3750 x 118

For more details click HERE

Applications reopened for ‘Buy Back the Block’ was originally published on rone92q.staging.go.ione.nyc