Matching Grant

Geographic Scope: Baltimore City (eligible neighborhoods where HNI loans are available)

Program Overview:
In combination with HNI loan products, borrowers may be eligible for a matching grant towards rehab project costs. The grant covers 50% of rehab project costs up to $10,000.

Examples:

• $10,000 rehab project = $5,000 matching grant
• $15,000 rehab project = $7,500 matching grant
• $20,000 rehab project = $10,000 matching grant
• $25,000+ rehab project = $10,000 matching grant (maximum)

Eligibility Requirements:

• Household income must be below limits in table above
• Must be coupled with an HNI loan (Purchase & Rehab, Refinance & Rehab, or Home Improvement)
• No stand-alone grants available
• Limited supply available; allocated on first-come, first-served basis for qualifying applicants

What Funds Can Be Used For:

• Rehab project costs only
• Must be paired with Purchase & Rehab, Refinance & Rehab, or Home Improvement loan

Application Process

1. Primary Requirement: Submit application for one of HNI's loan products:
   • Purchase & Rehab loan (up to $375,000)
   • Refinance & Rehab loan (up to $375,000)
   • Home Improvement loan (up to $20,000)
2. Matching Grant Eligibility: Assessed as part of loan application process
3. Income Verification: Provide documentation showing household income is below the limits for your household size
4. Contact for Questions: Ben Glover at ext. 1005