Exclusive Loan Program for the Patterson Park CDC

Patterson Park CDC in partnership with Healthy Neighborhoods has established a loan program to support the acquisition and/or rehabilitation of owner occupied homes on target blocks in the ten Healthy Neighborhoods program neighborhoods including the area's surrounding Patterson Park.

In order to encourage activity in the neighborhoods the loan program has important incentives and innovations including a discounted rate and the capacity to lend in excess of the after rehabilitation value of the property. The Healthy Neighborhoods Loan Program offers three types of loans to borrowers who meet standard secondary market credit standards.

• A PURCHASE/REHAB loan available to people purchasing homes on target blocks
• A REFINANCE/REHAB loan for more substantial improvements which will require refinance of the existing first mortgage on the home available to homeowners on target blocks
• A HOME IMPROVEMENT loan of up to $20,000 with an upward loan adjuster for larger homes available to homeowners in the ten Healthy Neighborhoods
• A FIXED RATE FIRST MORTGAGE LOAN to eligible borrowers purchasing formally vacant homes on target blocks in Patterson Park being developed by the PATTERSON PARK CDC.

The process is easy to faciliate and we walk you through each step of the process. For more details contact Eric Jones at 410-732-1609 x1132. The process is easy