Baltimore is one of the more affordable big East Coast markets, and it stacks an unusually rich menu of city incentives — from a homebuying lottery to bonuses for buying formerly vacant homes — that can often be combined.
This guide focuses on what first-time buyers in Baltimore specifically can tap in 2026 — the local programs run by the city and county, the statewide help you can layer on top, and what it realistically takes to buy here.
Baltimore’s own first-time buyer programs
Baltimore’s Department of Housing and its partners run several stackable incentives:
- Baltimore City First-Time Homebuyer Incentive — part of the city’s Homeownership Incentive Program (B-HiP), a combination of grant and forgivable-loan gap assistance (commonly cited around $10,000, with tiers that can stack), requiring housing counseling and a $1,000 minimum contribution (verify current tier)
- Buying Into Baltimore — a $5,000 forgivable loan awarded by lottery to attendees of a Live Baltimore Trolley Tour or virtual event
- Vacants to Value (V2V) Booster — a $10,000 forgivable loan for buying a formerly vacant or distressed property that needs a Certificate of Occupancy — often combinable with other city incentives
- Live Near Your Work — a matching grant in which the city matches a participating employer’s contribution (totals vary by employer)
These local programs are the piece most buyers miss, because they are run by the city or county rather than a lender — and they can often be combined with the statewide programs below.
Statewide programs you can also use in Baltimore
On top of Baltimore’s local help, every Maryland buyer can access the state’s housing finance programs — below-market loans, down payment assistance, and a possible tax credit. We cover them in full in our guide to Maryland first-time home buyer programs, and the wider local picture in our Maryland first-time home buyer guide. In many cases you can stack a city program with a state program to cover most or all of your cash to close — a lender who works with both can structure it.
What it takes to buy in Baltimore
Baltimore’s median sale price is roughly $210,000 — one of the more affordable major East Coast markets, with famous rowhome housing stock and wide neighborhood-by-neighborhood variation. Because prices are moderate and several city incentives can be combined, a Baltimore buyer can sometimes assemble $15,000–$25,000 or more in help, especially when buying a formerly vacant property through Vacants to Value.
Before you shop, pin down your budget. Our home affordability guide walks through how income, debt, and rates set your price range, and our first-time home buyer checklist keeps the rest of the process on track.
Loan options for Baltimore buyers
Most Baltimore first-time buyers use one of a few loan types, each of which can pair with the assistance above:
- FHA loans — 3.5% down with flexible credit, popular with first-time buyers
- Conventional loans — as little as 3% down, with reduced mortgage insurance through state HFA versions
- VA and USDA loans — zero down for eligible veterans and in qualifying areas
- Down payment assistance — city and state programs that layer on top (see our down payment assistance guide)
How to buy your first home in Baltimore
- Check your budget and credit first — see our guide to credit score requirements.
- Complete a homebuyer education course — nearly every Baltimore and Maryland program requires one, and it is usually free.
- Find a lender who works with both Baltimore and Maryland programs, and ask them to run the city and state options together.
- Get pre-approved, then line up your assistance before you make an offer.
One note: local and state program funding and terms change, and some rounds close when the money runs out. Always confirm current amounts and availability with the program administrator before counting on a figure.
Baltimore first-time buyer FAQ
What down payment help is available in Baltimore?
Baltimore offers several stackable incentives: the First-Time Homebuyer Incentive (gap assistance, often around $10,000), Buying Into Baltimore ($5,000 by lottery through Live Baltimore events), the Vacants to Value Booster ($10,000 for formerly vacant homes), and Live Near Your Work (an employer-matched grant). Many can be combined. Maryland’s statewide Maryland Mortgage Program applies too.
Can I combine Baltimore city programs with Maryland state programs?
Often yes. City or county assistance is usually designed to layer on top of a first mortgage, and many buyers stack it with a Maryland state program to cover most of their down payment and closing costs. A lender who participates in both can confirm what combines. See our Maryland programs guide for the statewide options.
Do I have to be a first-time buyer to qualify in Baltimore?
The core first-time incentives require first-time buyer status (generally no ownership in three years), income often at or below 80% of area median income, and HUD-approved housing counseling. Some programs — Live Near Your Work and the City Employee program — do not require first-time status and may have no income cap. Because amounts are adjusted by funding round, confirm current tiers with Baltimore City DHCD.
Can I combine Baltimore’s homebuyer incentives?
Often yes — that is what makes Baltimore distinctive. Many city incentives are designed to stack: for example, a buyer purchasing a formerly vacant home might combine the Vacants to Value Booster ($10,000) with Buying Into Baltimore ($5,000 by lottery) and the First-Time Homebuyer Incentive, plus Live Near Your Work if their employer participates. Each has its own rules and funding rounds, so a Live Baltimore or DHCD counselor can confirm which combination you qualify for and the current amounts.