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Are there grants or free monies available to repair a home purchased as an investment?

asked 2016-08-17 11:54:01 -0800

ministerjerry gravatar image

updated 2016-08-22 09:31:16 -0800

Holly gravatar image

I purchased a fixer-upper and need financial assistance to repair the townhouse so it can be livable.  Are there free monies or grants available to do this in the state of Maryland? Are there grants or free monies available to repair a home purchased as an investment?

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answered 2016-08-23 15:18:17 -0800

Holly gravatar image

Hi Jerry --- there is a special mortgage that lets you incorporate the amount of money you need for repairs into your mortgage at a very reasonable rate. However, it sounds like this property is something you already purchased. Your best bet may be to apply for a Home Equity Loan assuming you have some equity in the townhouse. You should also take alook at this review of Grants for Home Repair to see if you might qualify for any other special programs.

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