Closing Cost Assistance

Down Payment & Closing Costs Assistance

Community Development Block Grant (CDBG) Homeownership Assistance Program – For first-time home buyers with total family income at or below 80% of the area median income, $5,000 in down payment and closing cost assistance is available.

Downpayment & Settlement Expense Loan Program (DSELP)

DSELP, a program of the State of Maryland, is a loan that covers settlement expenses above a borrower’s minimum equity capital contribution on a first mortgage loan that is the maximum mortgage amount permitted by the mortgage loan guarantor.

Up to $3,000 with a 0% interest rate
Repayment of DSELP is deferred and is due upon the earlier of maturity or prepayment of the first mortgage, or sale or transfer of the property.
Home purchase must be primary residence in Baltimore City
Income Limits: 1 or 2 persons in home $84,840, 3 or more $98,980

Maximum Acquisition Costs: Existing House $247,014; New Construction $261,609

Buyer must contribute at least 1% towards purchase

To qualify for a DSELP loan, applicants must be using a CDA Mortgage Loan Program first mortgage

Vacants to Value Booster Program – Eligible homebuyers can get $10,000 towards closing costs for the purchase of a formerly vacant home.

Baltimore City Employee Homeownership Program – The incentive for City employees has been increased from $3,000 to $5,000.

Buying into Baltimore and City Living Starts Here – The Buying into Baltimore incentive has been increased from $4,000 to $5,000. Also, Live Baltimore has added four neighborhood tours, City Living Starts Here, to the previous two citywide tours. The number of incentives awarded has been increased from 60 to 100 per year.

For more information on Baltimore City Housing Incentives please visit:

City Employee Homeownership Program

$3,000 forgivable loan for use towards closing costs and/or down payment for purchase of property in eligible areas of Baltimore City. Applicant must occupy the property being purchased as your principal residence: single family homes, one to two dwelling unit properties or condominiums are eligible.
A loan (with no payments required) is provided with a 5 year term, reducing 20% for each year of occupancy.
At the conclusion of 5 years, the “loan” will have been fully forgiven.

Employee Eligibility Requirements:
Upon receipt of application from employee, funds will be reserved for 60 days.
Employees must attend a homeownership counseling program to participate.
Employees must produce a contract of sale and make mortgage application
within the 60 day period.

Funds are offered on a first come, first served basis until all funds are committed.

Employees must invest $1,000 from personal funds towards purchase. Only full time employees are eligible who have six months service.

For more information, or to schedule counseling, please contact us at: