OFFICE OF HOMEOWNERSHIP LNYW EMPLOYEE APPLICATION 1 of 8
Live Near Your Work’s (LNYW) purpose is to provide nancial assistance in grant funds toward eligible
employees’ home purchase of their primary residence. LNYW is designed to incentivize community
revitalization for continued neighborhood and economic vitality. Enrolled employers contribute a minimum of
$1,000 per employee to the program. Baltimore City then matches employer contributions up to $2,500.
AT WHAT POINT IN THE HOMEBUYING PROCESS MUST I
COMPLETE MY HOMEOWNERSHIP COUNSELING?
Homeownership Counseling is mandatory for all LNYW applicants,
prior to signing a contract of sale. This includes both the general
workshop and the one-on-one counseling session. There are
no exceptions to this policy. A list of Baltimore City Approved
Homeownership Counseling Agencies is included on the last page of
HOW MUCH MONEY IS AVAILABLE THROUGH A LNYW
The maximum LNYW award is determined by your employer. Check
with your HR representative for specic amounts. Baltimore City
matches employer contributions up to $2,500. State of Maryland
Employees (this does not include University of MD employees) are only
eligible for LNYW if they use the CDA Maryland Mortgage Program. The
LNYW funds will be provided in the form of a grant with no security
instruments to sign nor lien encumbrance.
WHAT CAN A LNYW INCENTIVE BE USED TOWARD?
LNYW grants may be used only for downpayment and closing costs
in connection with home purchases which will be your primary
residence. Any remaining funds after closing costs must be applied as
downpayment assistance to reduce the principal mortgage. There is no
cash back to the borrower nor retroactive payments.
WHAT WILL MY MINIMUM OUT OF POCKET COST BE WITH A
Employees must contribute at least $1,000 toward their home
Purchase a home in Baltimore City with the
Live Near Your Work
The Baltimore City Live Near
Your Work Program provides
a minimum $2,000 grant to
employees purchasing homes in
neighborhoods near their place
PROGRAM DETAILS & FAQs
HOW WILL I RECEIVE MY LNYW INCENTIVE FUNDS?
Incentive funds from the city are provided in the form of two-
party check, payable to the borrower and his/her title company.
Employees are responsible to make arrangements with their
employer to secure their check and deliver it to loan settlement.
WHAT TYPE OF FINANCING CAN BE USED WITH LNYW
Borrowers must obtain a xed-rate mortgage from a federally
insured lender. Prohibited nancing includes: Adjustable Rate
Mortgages (ARM), no-document loans, cash sales, and seller
nancing. No co-signers (persons not residing in the property)
are permitted. The mortgage amount cannot exceed the
prevailing FHA limit of $517,500* for single family properties
(*this is subject to change).
HOW DO I APPLY FOR A LNYW INCENTIVE?
LNYW grant funding-is contingent upon the receipt of a
completed application package containing all documents
required by the Oce of Homeownership within 20 days from
the settlement date. Early application processing is encouraged.
Further application details and instructions are contained in this