MATCHING GRANTS FOR RENOVATION
Baltimore City has committed $1 million to match dollar-for-dollar the rehab portion of loans made from the Healthy Neighborhoods Loan Pool.
PURCHASE AND REHAB LOAN, REFINANCE AND REHAB LOAN, AND SPECIAL FIRST MORTGAGE LOAN
Healthy Neighborhoods permanent interest rate will be the 60-day Fannie Mae rate minus 1%, but never less than 4%, as published in the Wall Street Journal, set at time of rate lock. Rate will be locked in for a period of no more than 30 days prior to the date of completion of construction.
HOME IMPROVEMENT LOAN
Healthy Neighborhoods permanent interest rate will be the Prime rate minus 1%, but never less than 4%, established at time of application and fixed for the term of the loan. The maximum term will be 10 years.
