Buy a Home
Homebuyer Incentive Programs
There are several incentive programs to help you become a homeowner in Better Waverly!
Healthy Neighborhoods is a citywide initiative program that helps strong but undervalued Baltimore neighborhoods increase home values, market their communities, create high standards for property improvements, and forge strong connections among neighbors. Better Waverly is a designated Healthy Neighborhood.
Give an historic house some love and make it the home of your dreams with the Purchase and Rehab Loan. You may borrow up to 110% of the post-renovation value, pay as little at 3% down, get a low rate, and pay no mortgage insurance (PMI). You may also receive free design services. This program is available on specific target blocks in the neighborhood:
- East 33rd Street: 600 through 800 blocks
- East 31st Street: 600 block
- East 30th Street: 500 through 700 blocks
- Avon Avenue: 3200 block
- Belle Terre Ave: 700 block
- Ellerslie Avenue: 3000 through 3200 blocks
- Frisby Street: 3000 – 3200 blocks
- Gorsuch Avenue: 600 through 900 blocks
- Homestead Street: 600 through 900 blocks
- Independence Ave: 3100 through 3200 blocks
- Loch Raven Blvd: 3200 block
- Montpelier Street: 600 through 900 blocks
- Westerwald Avenue: 3200 block
- Johns Hopkins Live Near Your Work Program
The Live Near Your Work program provides assistance so that fully-benefitted Johns Hopkins University faculty and staff and Johns Hopkins Hospital and Health System employees can purchase homes in specific Baltimore City neighborhoods near Johns Hopkins campuses.
If you or your spouse is a Johns Hopkins employee, you may be eligible for a $10,000 grant toward down payment and closing costs in Better Waverly. The shuttle stop at Johns Hopkins at Eastern, located within the neighborhood, makes both the Homewood and JHMI campuses easily accessible.
MMP “You’ve Earned It” Initiative
For many people, investing in an education means carrying long-term student debt, which can become a barrier to achieving the dream of homeownership. For a short time, the Maryland Mortgage Program is offering a 0.25% discount on the standard Maryland Mortgage Program mortgage rate and up to $5,000 in down payment assistance to qualified homebuyers who have a student loan debt of $25,000 or more. All homes for sale in Better Waverly are eligible for this program.
Visit the “You’ve Earned It” page for more information.
Other Incentive Programs
There are many incentives that can be used toward buying a home in Better Waverly. Visit Live Baltimore for more information.