Johns Hopkins’ Live Near Your Work program is one of the neatest, simplest ways we’ve seen to encourage local workers to buy homes in the city rather than fleeing to the suburbs. Qualifying employees who buy homes in certain neighborhoods near either the Homewood or East Baltimore campuses can qualify for thousands of dollars of grants to assist with the down payment and/or closing costs. And as a sign of their commitment to the program (and to the neighborhoods surrounding their campuses), the university just announced that they’re providing even more money to qualifying homebuyers.
The basic LNYW grant used to be $3,000; now, it’ll be $5,000. That’s pretty awesome. Even more awesome is that the in certain areas, homebuyers can get as much as $36,000. That kind of money could make buying a house much more within reach for a whole lot of people. Even better, the program’s boundaries are expanding slightly, which means even more houses might be eligible for the program.
If you’re interested (and you’re a Hopkins employee), check out the map of applicable neighborhoods here, and consider going on one of the LNYW bus tours, which might help you spot the home of your dreams…
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