The home renovation loan is for current homeowners who live within the boundaries of a Healthy Neighborhood.

 
Neighborhood boundaries are defined by the Baltimore City Neighborhoods Map. The borrower must be the owner-occupant of the home. Current residents may borrow between $5,000 and $40,000, and the loan must be used for home renovation only, including some visible exterior improvements. The interest rate is always 1% below the prime rate but in no event less than 4%. The term is 10 years.

For full terms of this loan, click here >>

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Frequently Asked Questions

Q: Can I borrow money for home improvements I've already completed?

A: No. You must use the borrowed funds to pay for home improvements you will make after settlement on the loan.


Q: Can I use this loan to pay off credit card or other debt?

A: No. This loan is for home improvements only.


Q: Can I use this loan for a new porch?

A: Yes! Healthy Neighborhoods encourages standard-setting exterior renovations that add value to your home and your neighborhood.


Q: What about new appliances for my kitchen?

A: Yes! We encourage any permanent improvements that add value. And check out energy-efficient appliances that help you save money on your energy bills. Click here for more information.