Revitalization Loan Program in Maryland?

[Ben Safren]

I am looking into revitalization/jumpstart programs in Maryland. I'd imagine Baltimore City would have a few of these organizations that are offering favorable loans for complete project costs (property cost + rehab). I've found a few offering 85% LTC at reasonable interest rates. Usually there is a timeline around 12 months to flip or refinance.

Does anyone know any revitalization organizations in the area offering these types of loans? 

[Stephanie P.]

@Ben Safren

Most local banks have access to community lending programs and there are lots of lenders out there that will do FHA 203K and HomeStyle Renovation programs. I'm assuming you're looking for owner occupied.

If not, you can get, with some experience, 90% on the purchase and 100% of the rehab if you're max 70% ltc after the renovation is complete.  Then you can either refinance it into a long term financing product or sell the property for profit.