1. CHAI Homebuyer Purchase & Renovation Loan: Up to $15,000

Applications: Available for new homebuyers and new homeowners up to six (6) months from date of purchase.

Location: Properties located in Northern Park Heights neighborhoods (check map for exact boundaries)

Sales Price: Maximum contract sales price of $300,000

Use of Funds: Maximum 1/3 of the loan for settlement assistance ($5,000). Minimum 2/3 of the loan for renovations ($10,000)*

Loan Terms:  0% Interest

Monthly Payment: $83.33 for 15 years

CHAI loans require owner occupancy and two guarantors. The loan is recorded as a 2nd mortgage. Loan applications are available once there is a signed sales contract on the property.

*Renovations must be approved in advance by CHAI and may include, but are not limited to:

• Kitchen upgrades/remodeling
• Bath and/or basement improvements
• HVAC upgrades
• Replacement windows or doors
• Floors: refinishing of hard wood, carpeting installation or tile
• Electric and plumbing upgrades
• Exterior painting or siding
• Steps and sidewalk repairs
• Gutter and downspout replacement or repair
• Landscaping 
• Roof

2. CHAI Home Improvement Loan: $5,000 to $10,000

CHAI home improvement loans require owner occupancy and two guarantors. The loan is recorded as a lien on the property. Borrowers must use licensed contractors.

Applicants:  Existing homeowners in northern Park Heights neighborhoods (check map for exact boundaries)

Loan Terms:  3% interest, with 10 year repayment on $10,000 loans and 5 year repayment on $5,000 loans.

Monthly Payments:  $10,000 loan = $96.56; $5,000 loan = $89.84

Use of Funds:  Up to 10% of the loan must be designated for exterior improvements to the front of the property.

Improvements must be approved by CHAI in advance and may include but are not limited to:

Exterior renovations such as:
• Replacement windows or doors
• Porch fixtures: light, mailbox, numbers and doorbell
• Exterior painting or siding
• Concrete steps and sidewalk repairs
• Gutter and downspout replacement or repair
• Landscaping repair
• Roof

Interior renovations such as:
• Kitchen renovations
• Bath or basement renovations
• HVAC: air conditioning and heating
• Replacement windows
• Floors: hard wood, carpeting or tile
• Electric and plumbing upgrades

Click here for Loan Program Boundary Map
Click here for the Contractors Referral List


3. Healthy Neighborhoods Loans

The Healthy Neighborhood Program offers loans to homebuyers and homeowners residing or purchasing homes on targeted blocks of the Glen neighborhood of Baltimore City. For a list of targeted blocks, click here>> 

Loans are available for:
• Home purchase and home rehabilitation
• Refinancing
• Home improvement

These loans come with the following incentives:

• Below-market interest rate, (1% below prime minimum interest rate 4%)
• Opportunity to borrow up to 120% of after-rehab value
• No private mortgage insurance
• 3% down payment
• Free design advice
• Matching grants of up to $10,000 for low and moderate income eligible borrowers

For more information on the Healthy Neighborhoods loan programs in the Glen neighborhood, contact Homeownership Services at 410-500-5309.

CHAI offers homebuyer workshops, individual pre-purchase homebuyer counseling and low-interest loans that can be used for down payments, settlement expenses and/or home renovations. CHAI can also help first-time homebuyers qualify at banks for mortgages and special incentives through city, state ad federal lender programs.