Demand is high, and the number of houses available is limited, so the Live Near Your Work program is taking steps to ensure that the one-day Eager Park Home-Buying Extravaganza is organized, fair, and easy to navigate.
A lottery system will replace the previously planned first-come, first-served lineup, and participants are encouraged to register in advance of the Sept. 10 event, during which eligible Johns Hopkins employees can receive a $36,000 grant toward one of 44 new or renovated townhomes.
During the 8 to 9:30 a.m. check-in, employees will receive a lottery number if they have the required documentation: a Johns Hopkins ID, a homeownership counseling certificate, a prequalification letter from a lender, and $1,000 earnest money. Employees will get to choose their homes based on the order in which their numbers are drawn.
When all homes have been reserved, remaining participants will be put on a waitlist in the order in which their numbers were called. Employees who arrive after 9:30 a.m. and have the necessary documentation will be added to the end of the waitlist.
Ryan Homes will be offering 32 new townhomes, and 12 renovated houses are available from three local developers: Emerging Developers, TuCasa Development, and Tadesse & Associates. Ryan Homes is offering an additional $10,000 if you use NVR Mortgage as your lender.