Creating Homeowners, Preserving Neighborhoods in Maryland


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Governor Hogan Announces Homeownership Initiative for Veterans and Military Families

DHCD offered special Maryland Mortgage Program rates and significant down payment assistance to military personnel , veterans and disabled veterans through the Maryland Homefront initiative.

Veterans and military families looking to purchase a home in one of Maryland’s Sustainable Communities may qualify for special Maryland Mortgage Program rates and significant down payment assistance through the “You’ve Earned It!” initiative.

ANNAPOLIS, MD – On Memorial Day, Governor Larry Hogan and Secretary Kenneth Holt announced a $20 million initiative that will give a significant boost to veterans and military families who are looking to buy a home in one of Maryland’s 86 Sustainable Communities. Read the release.

The “You’ve Earned It!” initiative offers a 2.75 percent fixed-rate 30-year loan through the Maryland Mortgage Program and $10,000 in down payment assistance in the form of a zero interest deferred loan to active duty military, including members of the military reserves and National Guard, and  honorably discharged veterans and veterans with a disability. The first phase of “You’ve Earned It!” – aimed at qualified homebuyers with more than $25,000 in student loan debt – was announced May 4.

The initiative is for a limited time until the $20 million allocation is exhausted.

Maryland’s Sustainable Communities program seeks to strengthen reinvestment and revitalization in the state’s older communities through state, local and private sector partnerships. There is at least one designated Sustainable Community in each of Maryland’s 23 counties and Baltimore City. A list of Maryland’s Sustainable Communities can be found here.

If you’d like to see whether a specific property address is in a sustainable community, view this map.

For more information about the Maryland Mortgage Program, as well as other loan specials, participating lenders and homeownership counselors in your area, visit the Maryland Mortgage Program website.


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MD Adds 4 New Sustainable Communities, Including the Hometown of Baseball Great Jimmie Foxx

Jimmie-Foxx-(1)New Carrollton, MD – The historic town of Sudlersville, birthplace of baseball Hall of Famer Jimmie Foxx, this month became one of four new sustainable communities in Maryland, joining the initiative to strengthen reinvestment and revitalize traditional neighborhoods throughout the state.

Greater Riverdale, Perryville and Hurlock also became sustainable communities, bringing the statewide total to 86. There is at least one designated sustainable community in each of Maryland’s 23 counties and Baltimore City.

Maryland’s award-winning program seeks to preserve the unique local character of each sustainable community and stimulate investment by building strong state, local and private sector partnerships. The program is an important component of Governor Hogan’s mission to change Maryland’s economy for the better, create jobs and improve the quality of life for Maryland citizens.

The program has a far-reaching impact.

For example, families seeking to buy a home in a sustainable community can take advantage of the special rates and significant down payment assistance through Maryland Mortgage Program products such as  “You’ve Earned It!”

Business owners may qualify for programs such as Neighborhood BusinessWorks that helps them obtain the capital they need to innovate and grow.

Localities can qualify for resources to make streetscape upgrades and other civic improvements so that their community is more attractive to residents, visitors and potential businesses. Learn more about the Sustainable Communities program. Continue reading


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DHCD Secretary Holt to MD Bankers: Expanding Our Lending Portfolio Expands YOUR Lending Portfolio

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Annapolis, MD – Governor Larry Hogan and Secretary Kenneth Holt this week announced a $20 million initiative aimed at members of the Millennial Generation that will give a boost to otherwise qualified buyers who have been unable to move into homeownership because of significant student debt.

Through the “You’ve Earned It!” initiative, the Maryland Mortgage Program is offering a 2.75 percent fixed rate, 30-year mortgage and $10,000 in down payment assistance to qualified homebuyers with more than $25,000 in student loan debt. The program is open for a limited time to families purchasing a home in one of Maryland’s 82 Sustainable Communities. Maryland’s Sustainable Communities program seeks to strengthen reinvestment and revitalization in the state’s older communities through state, local and private sector partnerships. There is at least one designated Sustainable Community in each of Maryland’s 23 counties and Baltimore City. Continue reading


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Governor Hogan Launches Loan Program to Help Baltimore’s Small Businesses Recover and Rebuild

 DHCD’s Small Business Lending Team Reaches Out to Hispanic and Korean Business Owners

 

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First Lady Yumi Hogan joins Korean business owners in Columbia during a presentation on resources available through DHCD’s small business lending programs.

Columbia, MD – Members of DHCD’s small business lending team met with Korean and Hispanic business and community leaders Tuesday to acquaint them with the Maryland Business Recovery Loan program, Governor Hogan’s initiative to help Baltimore businesses hurt by the recent civil unrest cut through the red tape and obtain rapid access to the financing they need to rebuild. The effort is part of the governor’s comprehensive response to the destruction that rocked the city. More than 200 businesses, many minority owned, were destroyed and many others sustained significant losses.

Through the Maryland Business Recovery Loan program, businesses can receive zero-interest microenterprise loans of up to $35,000 for a term of between one to five years. Businesses with greater losses might qualify for flexible gap financing through DHCD’s Neighborhood BusinessWorks program. Learn more about DHCD’s resources for small businesses.

In addition, DHCD is providing Korean and Spanish translation services to ensure that language will not be a barrier. The Hispanic and Korean business communities were severely hit and DHCD is on the forefront with helping those businesses as they try to rebuild. Continue reading


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Grand Opening of Sr Apts in Baltimore Underlines Link Between Affordable Rental Housing and Jobs

APRIL 23

Benet-House-4.23Baltimore – The production of affordable rental housing is an economic development and job creation engine for the state, Secretary Holt said during the grand opening Thursday of Benet House Senior Apartments in southwest Baltimore.

The Hogan-Rutherford administration has made turning around Maryland’s economy its top priority and the revitalization of the state’s housing market is a significant component, Holt said.

Sponsored by Bon Secours Baltimore Health System, the Benet House project involved the preservation and renovation of 76 one-bedroom units and 25 efficiencies of quality affordable rental housing for low income seniors and non-elderly disabled persons in Baltimore City. Benet House opened in 1991, following the renovation and adaptive reuse of a former Baltimore City public school building and construction of a new residential wing. Continue reading


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MD Gets Grant to Continue Foreclosure Prevention Efforts Ranked Among Nation’s Most Effective

MARCH 16

Crownsville, MD – The National Foreclosure Mitigation Counseling program has announced grant awards totaling more than $44.8 million, including $747,000 for foreclosure prevention counseling in Maryland.

More than 1,100 nonprofit counseling agencies and local NeighborWorks organizations across the country are expected to be engaged in the NFMC Program as a result of this, the ninth round of funding awards.

To date, more than 1.89 million families in all 50 states, including the District of Columbia and the U.S. Territories have received foreclosure counseling through the NFMC program since it began in 2007. An additional 129,600 families facing the threat of foreclosure will be directly assisted with these awards. Many more will be helped by the training of foreclosure counselors, provided through the NFMC program. NeighborWorks expects to train 1,600 counselors with the ninth round of NFMC funding. Continue reading


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Governor Hogan Swears In Kenneth C. Holt as Maryland’s Housing Secretary

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Secretary Holt, joined by his wife Mary, takes the oath of office from Governor Larry Hogan.

Crownsville, MD – Kenneth C. Holt, Jr., the former Baltimore County delegate who spent 25 years as an investment executive, was sworn in today as Secretary of the Maryland Department of Housing and Community Development. Governor Larry Hogan administered the oath of office in State House ceremony.

“I am pleased that Governor Hogan asked me to serve as secretary of an agency that plays such an important role in the economic health of our state and the well-being of its citizens,” said Holt. “This agency is something of an economic wheel horse, providing tremendous benefit to the State of Maryland. Through our mortgage lending program, affordable rental housing financing and neighborhood revitalization programs, we provide very worthwhile assistance to a large part of the population.” Continue reading


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Everything Was Illuminated! Neon Sign for Arts Center Symbolizes Energy of the “Next Baltimore”

MARCH 3

SAM_2684-(1)Baltimore – The city  celebrated an important achievement on the evening of March 3, by lighting up the marquee of the Centre Theatre, the newest rehabilitated building in Baltimore’s Station North Arts and Entertainment District.

The blue neon of the letters on the distinctive facade instantly illuminated an otherwise dark corridor, acting as a symbolic beacon of the kind of development momentum currently re-energizing the district.

The $18 million project will be “a center for arts and innovation in the Station North Arts and Entertainment District,” according to developer Jubilee Baltimore’s website. The project converts a 67,000 square foot building that has been vacant for more than 20 years into restaurant space, film centers for Johns Hopkins University and Maryland Institute College of Art programs, the Baltimore Jewelry Center, and the Center for Neighborhoods, a nonprofit hub of community development-focused nonprofits including Central Baltimore Partnership, Neighborhood Housing Services of Baltimore and Jubilee Baltimore. Continue reading

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