You Could Get $10,000 If You Buy A Home In Baltimore: Here's Why

Mayor Brandon Scott announced Wednesday, April 27 that first-time Baltimore homebuyers could be eligible for $10,000 starting May 1. Some homebuyers could even get $20,000 in first-time homebuyer incentives. 

Baltimore's First-Time Homebuyers Incentive Program helps first-time homebuyers with their down payments and closing costs. The program awards buyers a $10,000 assistance budget. 

In addition, people who purchase a home in the city's Impact Investment Areas could get another $10,000 - racking up a total of $20,000 in incentive costs. 

Mayor Scott said the purpose of this program is to help bring in more middle-income families to Baltimore, especially Black homeowners. 

“Home prices and mortgage rates continue to escalate. This dynamic can cause housing affordability to sink for many first-time buyers,” Mayor Scott said. “Home buying incentives can level the playing field and ensure greater success for many potential homeowners.”

To be qualify for the incentives, buyers must physically live in the property themselves and have a household income at or below 80% of the Area Median Income. 

More information about the incentive program can be found online. 

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