Get a Loan

Get a Loan

Loans Offered by NHS

Employer-Based Small Dollar Loans

Must be affiliated with an approved employer.

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Rehab Loans

Home-improvement loans to help you make your home safe and comfortable.

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Home Purchase Loans

Also known as Tu Hogar, this loan program helps individuals lacking a credit history to apply for a mortgage.

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Types of Consumer Loans

See requirements

Employer-based Small Dollar Loan

Eligibility:

The Community Loan Center of the Chesapeake offers employers in 5 Maryland counties the ability to offer their employees a way to overcome financial hardships. If you are an employee at one of the employers below, click here.

  • - Tuerk House
  • - Total Health Care

For more information contact Michael Dunn at:

mdunn@nhsbaltimore.com or call 410-327-1200 (ext.143)

 

Types of Rehab Loans

See requirements

Up to $20,000 Rapid Rehab Loan

This new rehab loan allows customers to borrow up to $20,000 at a 4% fixed interest rate up to 10 years. Customers do not need to have equity in their homes to qualify, which makes this an attractive loan for new homeowners. Use this loan to cover any renovation projects or energy-efficient repairs.

Eligibility:

  • - Apply for up to $20,000
  • - No Equity Needed
  • - Receive Funds Within 30 Days
  • - 4% Fixed Rate Payable up to 10 years
  • - Use for Any Home Renovation Project or Energy-Efficient Repairs
  • - No Income Limit
  • - Baltimore City only

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $20,000

Repayment Time

Up to 10 years

Interest Rate

4% Fixed

Employment

Must be employed continuously for 1 year

Repayment Schedule

Monthly ACH payment optional

Banking requirement

Must have bank account

Underwriting

Must have an ability to repay the loan

Credit

Credit score of 680 and above.

See requirements

Up to $7500 Quick Fix Loan

With this mortgage loan product, you could install a new heat pump or insulate your attic and improve efficiency. You can choose your own contractor to complete the work and may close in as little as 30 days. Borrow up to $7,500 at a 5% interest rate payable for up to 7 years.

Eligibility:

  • - Must reside at or below 120% of the Area Median Income
  • - Must reside in Baltimore City
  • - Must have credit score of at least 620
  • - Must have equity in the amount of the loan

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $7500

Repayment Time

Up to 7 years

Interest Rate

5%

Employment

Must be employed continuously for 1 year

Repayment Schedule

Monthly direct deposit option

Banking requirement

Must have direct deposit

Credit

Credit score of 620 and above.

See requirements

Over $7500 Large Renovation Loan

Eligibility:

With this loan you could borrow up to $30,000 at a 0% - 4% interest rate. Payments can be deferred until you sell your home depending on your ability to repay the loan. Use this loan to cover costly improvements such as new roof, furnace, electric or plumbing.

  • - Must reside at or below 120% of the Area Median Income
  • - Must reside in Baltimore City
  • - Credit reviewed
  • - No medical collections over $1000
  • - No judgements no liens

For more information contact NHS at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Up to $30,000

Repayment Time

Up to 20 years

Interest Rate

0% - 4%

Employment

Must have 1 year stable income

Repayment Schedule

Based on the ability to repay

Banking requirement

No requirement

Credit

Credit reviewed no score required

Types of Home Purchase Loans

See requirements

BOOST/Alternate Credit Loan

BOOST loan is a home purchase loan that assists individuals without traditional credit history in qualifying for a mortgage.

Eligibility:

With this loan you could borrow up to $75,000 for the purchase of a primary single family residence. The borrower must:

  • - Occupy the property as a primary residence and cannot own another property
  • - Purchase the property in Baltimore City.
  • - Obtain a Housing Counseling certificate from a HUD-Approved counseling agency and have obtained 8 hours of homebuyer education

For more information contact Rena Somar at:

lendingadvisor@nhsbaltimore.com

 

Requirements:

LOANS

Fixed rate up to $75,000
$5K of the $75K can be set aside or repairs

Repayment Time

15 years

Interest Rate

6%

Purchase Price Limit

No limit

Maximum CLTV

105%

Credit Score

680 minimum score or alternate credit: 12 months of on-time rent & two other trade lines showing 12 months of on-time payment

Escrow

Homeowner’s insurance required
Escrow of taxes and insurance required

See requirements

The Tu Hogar program

The Tu Hogar program is a home purchase loan that assists individuals without traditional credit history in qualifying for a mortgage. For more information please visit our partners at Southeast CDC or the Latino Economic Development Corporation.

To register for the NHS Homebuyers' Education class, please click on the button below.
Click Here to Register
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