$3 Million Allocated to Encourage Home Buyers
in Baltimore CityANNAPOLIS, MD – Governor Larry Hogan today announced Maryland Grand Slam, a $2 million program to build stronger communities in Baltimore through homeownership. These funds will be maximized with an additional $1 million from the City of Baltimore following today’s approval by the city’s spending board. Both state and city funds will provide grants to home buyers purchasing through the Maryland Mortgage Program, the state’s premier home loan product.
The new Maryland Grand Slam will help make homeownership more accessible by offering prospective buyers four ways to reduce the cost of buying a home, including $7,500 in down payment assistance grants. The initiative builds upon the governor’s comprehensive and ongoing efforts to help the city rebound from the civil unrest in April.
“Maryland Grand Slam will help change Maryland for the better by giving hardworking families that extra boost they need to get into the home of their dreams,” Governor Hogan said. “This initiative will revitalize neighborhoods in our state’s largest city while helping families build a lasting financial legacy for their children and their children’s children. A strong housing market is key to a strong economy. This program will help more families become homeowners and will improve our economy.”