Howard County government officials are directing more money toward homeownership and renovation programs designed to provide relief to buyers and residents in a challenging real estate economy.
County Executive Calvin Ball unveiled changes to two existing county initiatives Wednesday, one that provides low-interest down payment assistance to eligible buyers and another that offers rehabilitation loans for homeowners seeking to make repairs. A $4.5 million budget allocation would help expand the two programs, Ball said Wednesday, with $110,000 meant for homebuyer education workshops for households interested in qualifying for the down payment aid.
At a Wednesday news conference, Ball, a second-term Democrat, said homeownership has become far too exclusive for far too many in the wealthy Baltimore suburb.
“With mortgage interest rates at a 20-year high, many future homebuyers are hesitant to enter the market, while existing homeowners are discouraged from selling,” Ball said Wednesday. “To continue making Howard County a place where all families can call home, we must promote affordable homeownership opportunities that empower residents to put down roots in our community.”
Click here to read the rest of the article written by Hallie Miller over at The Baltimore Banner
