BALTIMORE, MD (July 1, 2026) – Maryland Department of Housing and Community Development Secretary Jake Day today announced two new homeownership incentives for Baltimore City properties that have been redeveloped using State funding. The incentives, which reduce mortgage rates and provide down payment assistance, encourage homebuyers to invest in Baltimore neighborhoods where strategic investment is creating momentum and long-term opportunity through Governor Wes Moore’s Reinvest Baltimore initiative. The Secretary also announced Fiscal Year 2027 awards through the Baltimore Vacants Reinvestment Initiative.
“Homeownership has always been one of the most powerful pathways to stability, wealth-building and generational prosperity. In Baltimore City, we’re making big investments in opportunities that will make the American dream of homeownership possible for more families,” said Secretary Day. “We’re also supporting the community organizations doing the work to create more homes and revitalize Baltimore’s vacant properties block by block. This coordinated strategy is fueled by strong partnerships and Governor Moore’s clear vision for the Reinvest Baltimore initiative.”
Operated by Healthy Neighborhoods and Neighborhood Housing Services of Baltimore, the new incentives are supported by a combined total of $4.45 million in State Revitalization Program funding from the Department. The investment will help eligible buyers purchase renovated homes in communities where investment is restoring whole blocks, creating new opportunities for homebuyers to invest in the future of their family and their community.
Reinvest Baltimore Rate Savings, offered by Healthy Neighborhoods, can reduce mortgage rates to just 3.5 percent for eligible homebuyers purchasing select recently renovated homes through Healthy Neighborhoods’ Special Purchase Program. Using proceeds from the Reinvest Baltimore Rate Savings, mortgage discount points are purchased on behalf of the homebuyer to significantly lower the borrowing rate, helping make homeownership more affordable. Available funding will support more than 75 homebuyers.
Reinvest Baltimore Down Payment Assistance, offered by Neighborhood Housing Services of Baltimore, can provide up to $20,000 in down payment assistance for homebuyers interested in purchasing a home in neighborhoods across Baltimore where the State is prioritizing investment. Funds may be used for down payment or closing costs. Available funding will support at least 150 homebuyers.
To support continued positive outcomes in target areas for vacancy reduction, all homes redeveloped using funding through the Department’s Baltimore Vacants Reinvestment Initiative will be eligible for both incentives. For a list of eligible homes available for purchase, visit Healthy Neighborhoods’ Properties for Sale list.
“I’m honored to join Secretary Day today for these important announcements. It’s clear that the Baltimore Renaissance is growing and getting stronger,” said Faith Leach, Chief Administrative Officer for Baltimore City. “We know that Baltimore is the place to be for people and companies looking to make big moves. There truly has never been a better time to live and work in Baltimore. We are grateful to be a recipient of ongoing State funding through the BVRI awards, and we are equally grateful for the support the State is pouring into our local Community-Based Development Corporations for the vacants reduction work.”
Additionally, the Secretary announced awards through the Fiscal Year 2027 accelerated round of the Baltimore Vacants Reinvestment Initiative, which deploys $50 million annually to Baltimore City, Maryland Stadium Authority, and Baltimore City’s community-based development organizations to successfully redevelop properties in neighborhoods with a high number of vacant properties.
Twenty-five community-based development organizations were selected for the Fiscal Year 2027 round. Funding will support their proven strategies for renovating vacant buildings and strengthening neighborhoods within the program’s target areas. For a full list of awardees, visit Fiscal Year 2027 Baltimore Vacants Reinvestment Initiative Awardees.
“Every vacant home we transform into an affordable homeownership opportunity means another family building generational wealth, another block growing stronger, and another step toward a Baltimore where every neighborhood has the opportunity to thrive—one home, one block, one neighborhood at a time,” said Senator Cory McCray.
In alignment with the Reinvest Baltimore Action Plan released in February, awarded redevelopment activities will reflect community priorities, build from community strengths and achieve whole block outcomes. Program investments will also be informed by the findings of Live Baltimore’s Analysis of Baltimore City’s Residential Market Potential conducted by Zimmerman/Volk Associates, a deliverable of the Reinvest Baltimore Action Plan.
“Baltimore is fortunate to have the committed partnership of Governor Moore and Secretary Day as we tackle the longtime plague of vacant housing. Government, philanthropy, business, and community groups have demonstrated that we can do big things when we work together,” said Delegate Stephanie Smith. “I am excited to see the expanded impact of this initiative and congratulate our newest awardees!”
Reinvest Baltimore is a coordinated effort between the State of Maryland, Baltimore City, and nonprofit and for-profit partners to eliminate concentrations of vacant properties, revitalize neighborhoods and maximize the economic potential and quality of life for residents in Baltimore City. Established by Executive Order, Reinvest Baltimore established the Baltimore Vacants Reinvestment Council, which taps key community, corporate, philanthropic and government leaders to leverage targeted investments to move at least 5,000 vacant properties into homeownership or other positive outcomes over the next five years.
To learn more about Reinvest Baltimore, visit our website.
