About Our Grant
Our $5,000 home buyer grants are actually 5 year forgivable loans. That means after 5 years of living in your home, your loan is forgiven! If you choose to move before you 5 years are completed you are required to pay back the loan. You are able to refinance your home as long as it does not pull equity out of the home. Only individuals on the mortgage are allowed on the deed for the purposes of our grant.
Our grant can be used for a down payment or closing costs. You do not need to be a first time home buyer to use our grant.
This year we have 20 grants that can be used anywhere in Dundalk! Take a look at our neighborhood maps to see where Dundalk’s boundaries are–the answer might surprise you!
Home Buyer Grants
Qualify for $5,000 in 5 easy steps!
- Confirm you fall between 80-120% of the area median income.
- Attend 1 marketing event hosted by Dundalk Renaissance–this can be any of our upcoming events. Contact Meghan@DundalkUSA.org for more details.
- Attend 1 housing event hosted by Dundalk Renaissance.
- Receive 1-on-1 housing counseling.
- Obtain a home buyer certification from a home ownership counseling program.
Feeling overwhelmed? Download our Home buyer Grant Checklist to make sure you stay on track while you search for your new home!
Regretfully, we can not accept individuals or families who are less than 60 days from closing into our grant program.
Next Grant Qualifying Class
Be a Buyer
November 19 at 6pm
What is Area Median Income?
Area median income (AMI) is the middle income for households in Baltimore County. Households include everyone who will live in your home, including children.
As part of our work attracting Dundalk’s next generation of homeowners, our grants are for individuals and families earning between 80%-120%.
The chart on the right will give you the income range eligible for our Home Buyer Grant. When assessing your income, be sure to include all revenue streams from jobs worked in a year.
I Don’t Fall Within the AMI
If you do not have the income needed for our grant program, there might be other grant options for you.
Other programs cater to a different income ranges or can help home buyers pay off their student loans. Find the program that works best for you.
We always recommend you start with a housing counselor before searching for homes or enlisting a realtor to help you.
To join our grant program, please email Tasha@DundalkUSA.org or call 410.282.0261 ext 102 to begin the income qualification process. To verify income you will need:
- Your tax return
- 2 months of recent pay stubs
- copy of picture ID
Once you are income qualified you will then need to attend a marketing event, a home buyer education class, 1-on-1 counseling, and obtain home buyer certification. After you complete those requirements and find your home, you will submit a complete copy of your ratified contract.
You are free to choose your own lender. We thank the MD DHCD for funding our home buyer grant program. We do encourage you to research the Maryland Mortgage Program; if you use one of their many loan products, you must use one of the lenders on their list (over 80 of them).