Buying a home marks a significant financial and personal milestone for many people, but the achievement involves navigating complex decisions around budgeting, financing, and long-term planning, especially for those entering the housing market for the first time.
For Johns Hopkins employees, the Live Near Your Work program and Live Baltimore's initiatives offer substantial support for buying homes in Baltimore City. Since 2009, JHU and JHHS have provided more than $10 million to 1,500-plus employees through Live Near Your Work.
Read on to learn more about the benefits and resources that can help make your homebuying goal attainable.
Johns Hopkins' Live Near Your Work program
Hopkins employees have access to the Live Near Your Work program that provides grants to help with a down payment and closing costs for homes in designated Baltimore City neighborhoods. Depending on the home's location, eligible employees can receive up to $17,000 in assistance. Here are the key features:
- Eligibility: LNYW is available to full-time, benefits-eligible employees of Johns Hopkins University and Health System.
- Grant amounts: Grants vary by neighborhood and must fall within designated boundaries. Use the boundary map to check LNYW-eligible neighborhoods and see estimated grant amounts.
- Requirements: Prior to making an offer on a home, employees must complete a homebuying education course and individual homeownership counseling from an approved Baltimore City agency.
Live Near Your Work webinar: What Are the Rules and How to Apply
Join a live webinar from 1 to 2 p.m. on Thursday, Sept. 18, to learn everything you need to know to take advantage of the LNYW homebuying grant. Specialist Jeremy Hornberger will cover eligibility requirements, application steps, homeownership counseling information, qualifying neighborhoods and grant amounts, and the conditions of the program. Register here.
Live Baltimore's homebuying incentives
Live Baltimore is a nonprofit organization dedicated to promoting homeownership in Baltimore City's 250-plus neighborhoods. Its events and financial incentives include:
- Trolley Tour events: A great way to explore neighborhoods, learn from experts in homebuying and real estate, and qualify for the incentive lottery. The Fall Trolley Tour explores Northeast Baltimore City and takes place from 8 a.m. to 1 p.m. on Saturday, Oct. 4, at Johns Hopkins at Eastern. Get your free tickets here.
- First-Time Homebuyers Incentive Program: Provides $10,000 to $20,000 in down payment and closing cost assistance, depending on income and other factors.
- Direct Homeownership Assistance Program: Offers an additional $5,000 for eligible buyers, such as those purchasing the home they've rented for at least six months, or those with disabilities.
- Buying Into Baltimore: A $5,000 incentive awarded by lottery to participants of Live Baltimore's Trolley Tour event.
Visit Live Baltimore's website to learn more about resources and requirements for these financial incentives.
Want to know more?
To learn more about the LNYW program, visit the university's HR website. Still have questions? Call 410-516-2000 or email worklife@jhu.edu.
Posted in Benefits+Perks, Happenings
Tagged hr newswire
