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Healthy  Neighborhoods

  • Homebuyers can use this loan to purchase and rehab a home or refinance a home on a target block in a designated healthy neighborhood.
  • The loan carries a fixed interest rate that’s always 1% to 4% below the 60-day Fannie Mae rate.
  • Homebuyers must contribute 3% of the purchase price from their own funds and may borrow the balance of funds needed to buy and renovate the home, up to 110% of the after-rehabilitation appraisal.
  • No private mortgage insurance is required.
  • Design assistance from an architectural firm is available at no cost to help buyers plan improvement and review contractor proposals.
  • Homebuyers interested a Healthy Neighborhoods loan product must fill out a pre-application form.
  • A homeowner looking to refinance a home must have occupied it for a minimum of 3 years.
  • The home must be the homebuyer’s primary residence.
  • The home may have up to 4 zoned residential units.
  • This incentive may be used in addition to other incentives.
  • Homebuyer must use an approved lender.
  • Homebuyer must use program-approved contractor for all work.
  • For More Information
    Healthy Neighborhoods, Inc.
    (410) 332-0387