Live Baltimore’s “Buy Back the Block” program has expanded exponentially to take the program from 15 neighborhoods to 120+ neighborhoods in Baltimore, giving current renters access to up to $20,000 in grants to buy homes in these areas. This partnership with Baltimore City has now become a $1 million initiative.
The “Buy Back the Block” grant program makes it easier for potential homebuyers who currently rent to afford a downpayment and renovations. The initiative now offers more than 100 grants to eligible buyers. It is paid for through American Rescue Plan Act (ARPA) funds. Grants are awarded to renters on a first come, first served basis.
To be eligible, residents must have rented for at least 12 months and intend to buy a home in any of the 120+ neighborhoods. They have two grant options: a $10,000 purchase grant, and a $20,000 grant to purchase and renovate their new home. They also must complete homeownership counseling with an approved Baltimore City agency and work with a Live Baltimore-approved lender.
The grant-eligible areas can be found in this searchable map linked here.
The “Buy Back the Block” program directly supports Live Baltimore’s mission to fuel Baltimore’s economy through growth of a healthy housing market and attracting and retaining residents. In FY23, Live Baltimore helped more than 1,620 residents buy homes in 238 neighborhoods in Baltimore City.
“Baltimore’s residents are what make this city great,” said Julie French, Live Baltimore Interim Executive Director. “By expanding this powerful program, we’re helping more residents – and first-time homebuyers – who want to stay in the city make the shift to homeownership, a move that matters not only for individuals’ financial and personal lives, but for our expanding economy, our increasing tax revenue, and our city’s continuously growing potential. We’re thrilled to offer this opportunity to our neighbors.”
“Buy Back the Block” grant recipients are not limited to these funds but can combine them with other programs to maximize savings. Tax credits, the Live Near Your Work program, City Employee incentives, and more can be used together with the “Buy Back the Block” initiative. To explore a comprehensive list of home buying incentives, visit Live Baltimore’s website.
Those interested in applying for the grant program should visit Live Baltimore’s website and fill out the eligibility quiz at this link.
To learn more about the “Buy Back the Block” program, click here.