Buying
 

Buying

Homeownership is a cornerstone of community life and key to building wealth for all individuals, including individuals with disabilities. Purchasing a home is a complicated process and the purpose of this site is to compile resources for homeownership in Maryland. These resources are available to help you determine if homeownership is right for you, how to prepare for homeownership and the actual process of purchasing and maintaining a home of your own.


HOMEBUYER EDUCATION

A Home of Your Own Guide:  A Home of Your Own Guide walks prospective home owners through the complex process of buying a home, from the initial decision to make the purchase, through the steps for acquiring a mortgage, and finally, to life as a homeowner. The new guide introduces a "person centered approach" to homeownership, which places people with disabilities at the center of the decision-making process on issues affecting their personal lives and living situations.  To order a paper copy of the guide, call the Fannie Mae Distribution Center at:  (800) 471-5554 or click here to view online:  "A Home of Your Own Guide"

Keys to my Home website was designed through the collaborative efforts of E*TRADE FINANCIAL Corporation and NeighborWorks® America.  The website aims to bridge homeownership gaps with bilingual, user-friendly tips and information about preparing for and maintaining homeownership.  Click here to visit the Keys to my Home website.

New Horizons Un-Limited Inc. (NHU) is a non-profit organization based in Milwaukee, Wisconsin whose mission is to make information and life experiences accessible to individuals with lifelong disabilities.  NHU's website offers several guides for homeownership for individuals with disabilities.  Click here to view the guides on the New Horizones Un-Limited Inc.

US Department of Housing and Urban Development (HUD):  HUD provides information and resources regarding the home buying process and offers the HUD Homebuying Guide.  Click here to visit the HUB website and view the HUD Homebuying Guide


HOMEOWNERSHIP PROGRAMS FOR PERSONS WITH DISABILITIES

The Homeownership Voucher Program through the US Department of Housing and Urban Development (HUD), also known as the Section 8 Homeownership Program helps current Housing Choice Voucher Program participants purchase homes by converting their monthly rental assistance payments to mortgage payments and is offered through participating Public Housing Authorities (PHA's) throughout the State of Maryland. Contact your local PHA for more information.  Click here for a list of Maryland Public Housing Authorities.

Maryland Homeownership Program for Individuals with Disabilities:  The Homeownership for Individuals with Disabilities Program is offered through the Department of Housing and Community Development (DHCD) and is available statewide. One of the borrowers, or a child of one of the borrowers (who resides with and is principally cared for by one of the borrowers), must have a disability; and all borrowers must meet program eligibility guidelines and the loan must conform to all underwriting criteria. You can contact DHCD's Single Family Housing at 410-514-7535 for additional information or click here for more information on the Homeownership for Individuals with Disabilities Program.

Federal Home Loan Bank Atlanta (FHLB) is a financial services organization that works with financial institutions to provide low-cost financing and community building programs throughout the Southeast.  They run a program called "Community Programs"  to provide financial assistance.  Each year they set aside 10 percent of their annual net income to provide grants for affordable housing and to help first-time homebuyers with down payments and closing costs.  In addition, they offer products and services that make it easier for our members to make loans for affordable housing and community economic development.   Click here to visit the FHLB website and learn more about their Community Programs for financial assistance

Habitat for Humanity International is a nonprofit, ecumenical Christian housing ministry. Through volunteer labor and donations of money and materials, Habitat builds and rehabilitates simple, decent houses with the help of the homeowner (partner) families. Habitat houses are sold to partner families at no profit, financed with affordable loans. The homeowners' monthly mortgage payments are used to build still more Habitat houses.  Habitat is not a giveaway program. In addition to a down payment and the monthly mortgage payments, homeowners invest hundreds of hours of their own labor -- sweat equity -- into building their Habitat house and the houses of others.  Click here for more information on Habitat for Humanity.

Tax Exemptions: Those people with a central visual acuity of 20/200 or less in the better eye may receive, with a doctor's certification, an exemption of $15,000 of assessment reduction on the dwelling house and surrounding yard. Please visit Maryland's Department of Assessment and Taxation website or contact your local assessment office for more information. 

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HOUSING COUNSELING AGENCIES IN MARYLAND

US Department of Housing and Urban Development (HUD):  HUD Approved Housing Counseling Agencies in Maryland can provide advice on buying a home, renting, defaults, foreclosures, credit issues, and reverse mortgages.  Click here to visit the HUD website and find more information on Housing Counseling.

Maryland Department of Housing and Community Development (DHCD):  DHCD provides a list of counseling agencies for the Maryland Mortgage Program and Homeownership Program for Individuals with Disabilities.  Click here to view the list of Maryland Counseling Agencies

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REFINANCING & FORECLOSURE ASSISTANCE

Refinancing

"Lifeline" Refinancing Mortgage Program, through the Department of Housing and Economic Development (DHCD), provides a refinancing option to Marylanders who may be facing financial difficulties after purchasing homes with "exotic" mortgages. An "exotic" mortgage is defined as any type of adjustable rate mortgage (ARM), balloon payment loan, or negative amortization loan. Click here for more information on Lifeline Refinancing Mortgage Program.  

Foreclosure Assistance

NeighborWorks Center for Foreclosure Solutions is convening and supporting a coordinated foreclosure prevention and intervention strategy in communities nationwide.  In addition, NeighborWorks has joined forces with the Homeownership Preservation Foundation to promote a toll-free hotline-1-888-995-HOPE-offering free foreclosure prevention services and counseling to consumers and provides Tips For Preventing and Stopping Foreclosure.  Click here for more information on NeighborWorks Center for Foreclosure Solutions.

Help for Homeowners Facing the Loss of Their Home:  The US Department of Housing and Urban Development (HUD) has developed a question and answer web section offering Help for Homeowners Facing the Loss of Their Home.  Click here for more information on 
Help for Homeowners.

Tips for Avoiding Foreclosure:  The US Department of Housing and Urban Development (HUD) has created a guide that is written specifically for homeowners with FHA insured loans, yet much of the information may apply to all homeowners in danger of losing their home.  Click here for more information on Tips for Avoiding Foreclosure. Back To Top 

Buying