Steps to Apply for a LNYW Grant
1. Contact LNYW and Ensure Eligibility
You are strongly encouraged to contact LNYW at the start of your homebuying timeline if you anticipate applying for a Live Near Your Work (LNYW) grant. The program manager can answer any questions you have about eligibility, homeownership counseling, and combining the grant with other incentives. Review the the grant application to ask questions and before signing a purchase agreement.
2. Register for LNYW Workshops and Walking Tours
The Live Near Your Work program provides workshops and walking tours for employees so they know exactly how to take full advantage of available incentives and familiarize themselves with the neighborhoods.
You must complete homeownership counseling BEFORE making an offer on a home and signing a sales contract to qualify for a LNYW grant. There are a number of approved agencies in Baltimore that offer counseling classes at various dates and times. It’s up to you, the buyer, to determine which agency is the best fit for your homebuying timeline to ensure your counseling is completed PRIOR to making an offer on a home. A copy of the homeownership counseling certificate is required as part of the LNYW grant application.
You may be able to combine incentives available through the City of Baltimore and the State of Maryland with a LNYW grant. Visit Live Baltimore to learn more. Live Baltimore is a local non-profit specializing in helping buyers determine which incentives they can use.
5. Get Pre-Qualified by a Mortgage Lender
You must finance a mortgage loan in order to use a Live Near Your Work grant. The following types of loans cannot be used:
- No documentation loan
- Interest only loan
- Conventional 80/20 loan
- Adjustable rate loan
- Any loans for which prepayment penalties or fees are applicable or assessed
6. Choose a Real Estate Agent to Help You Find Your Home
Once you are pre-qualified by a mortgage lender and know how much you can pay for a home, you can begin looking at properties for sale. Remember that in order to use a Johns Hopkins Live Near Your Work (LNYW) grant, you must purchase a home within the LNYW boundaries, which surround both the East Baltimore and Homewood campuses. You can see maps indicating the geographic boundaries and enter a street address to determine if a home is within LNYW boundaries. You are not required to buy a home near the campus where you currently work. For example, if you work in East Baltimore you can buy near Homewood and vice versa.
7. Review Important Details about the LNYW program
Before submitting your LNYW grant application, be sure to review the fine print so that you understand the expectations of the program and can discuss any questions with the LNYW program manager.
Once the offer you have made on a home is accepted, you can officially apply for a Live Near Your Work grant. You should email your completed grant application and the items listed below to the LNYW program manager. Be sure to submit your application and documents listed below at least four weeks prior to your settlement/closing date.
- A copy of your counseling certificate
- A copy of your sales contract
The LNYW program manager will contact you when your application and documentation are received.