For Rent in Baltimore>Question Details

Shanon Campb…, Renter in Baltimore, MD

Are there any places where I can live for less than $1000 per month? Although we no longer want to rent, we must to qualify for a FHA loan

Asked by Shanon Campbell, Baltimore, MD Thu Jan 17, 2013

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Michael Carnahan’s answer
Hi Shanon!

Thanks for posting your question. The answer is probably yes. You should be able to get a place for $1000 per month. You might be able to qualify for an FHA loan, or you might need to do some work to become qualified. If you qualify now, you can start your search right away. If not, you might want to rent for a while so you can concentrate on building your credit and your downpayment.

Feel free to contact George at 410-599-9700. He is a loan officer with Citi. He will be happy to run the numbers for you and discuss your options. You are free to choose whichever lender you want to use, and George will be happy to give you information without any obligation.

Thanks again, and best wishes to you!


Michael Carnahan
Advance Realty Direct, Inc.
1796-B Merritt Blvd.
Baltimore MD 21222
410-288-6700 (office)
443-392-2072 (cell)
410-288-9154 (fax)
1 vote Thank Flag Link Thu Jan 17, 2013
Sure, I have quite a few rental properties in the Baltimore area to rent or there is a program in East Baltimore Johns Hopkins area called the Dunkin Square Project for new home owners. For that program you would only need $1000 down for a newly rebuilt row home. Please call me Anthony Giles @ (866) 838-9092 Ext 1 for rentals or John Keller for home purchase @ 410-804-0448. The purchase program requires a high credit score.
0 votes Thank Flag Link Fri Jan 18, 2013
There are a lot of opportunities for you and depending on who your employer is and the neighborhood you wish to live there are a lot of grant programs available for you for down payment assistance programs too.
I have a lovely home facing Herring Run Park for sale for $82,000 which qualifies for a Healthy Neighborhood grant up to $25,000 and a City Lift Grant of $15,000 as well which would go a long way to reducing your loan amount. You can couple those with CDA grant money and possibly even an FHLB grant of another $5000.
Baltimore City has over 225 distinct communities and many are very suburban in feel. You could purchase a single family detached home or a townhome. There are townhomes in the Westview area of Baltimore County that are in your budget, Middle River single family homes as well as townhomes, some homes in Dundalk and Brooklyn Park as well. The opportunities for you are endless.
To qualify for FHLB and CDA funds you don't have to buy in Baltimore City but the opportunities are endless.
I'd be happy to discuss the opportunities with you and refer you to a lender who can help you qualify for these loan programs if you need me to.

June Piper-Brandon, ePro, CIAS, CDPE, WHC
Associate Broker
Century 21 New Millennium
410-292-0100 (Direct)
410-730-8888 (Office)
0 votes Thank Flag Link Fri Jan 18, 2013
Hi Shanon,

Your options are endless. The only limitations are your imagination and actions you take or don't take. City Lift is a new program for buyers in Baltimore City where you don't need to be a 1st time buyer and could receive $15,000 towards down payment and closing costs. All you need to do in addition to being approved for a loan by a participating lender is attend a home buyer ed class and home buyer counseling session to receive a certificate. CALL ME to discuss your needs in more detail and other options that may work for your family.

My cell is 410-499-7279. You can also learn more about my services at

All Smiles,
0 votes Thank Flag Link Thu Jan 17, 2013
Marcellus Kendell, less than $1000 for rent
0 votes Thank Flag Link Thu Jan 17, 2013
If you get approved for a FHA loan and the purchase price of the home that you are interested in is around $139,000. your mortgage payment should be under $1000.00 which is less then the rent in that area. Rents are from what $1000 to $1300 over that way?
Flag Thu Jan 17, 2013
Great choice that is a really nice area over there, check out the couple of hones for sale on Cedarcroft right off of the Alameda. There are also some nice homes renovated i the area for about what you are looking to pay.
0 votes Thank Flag Link Thu Jan 17, 2013
the qualifying score for FHA is 620
0 votes Thank Flag Link Thu Jan 17, 2013
Hi shanon, there are programs that have grants and assistance for people buying in Baltimore City. Your first step is to speak to a mortgage consultant in order to find out how much house you can buy. will determine if , when and where you will buy. I have the names of several people with home I have work who will be able to let you know 2 pre approve you and let you know about these programs. Please give me a call or send me an email so we can discuss this further
0 votes Thank Flag Link Thu Jan 17, 2013
Akil Walker, I would like to stay in the 21239 area. North east Baltimore.
0 votes Thank Flag Link Thu Jan 17, 2013
Hi Sharon

There are a lot of homes that could qualify for this. Let me know what part of Baltimore you would like live in.
0 votes Thank Flag Link Thu Jan 17, 2013
I have a family of 4. A 3 bdrm is needed. What is the qualifying credit score to be eligible for a FHA loan? We are First time homebuyers.
0 votes Thank Flag Link Thu Jan 17, 2013
If you are looking for a 2 bedroom you can go almost anywhere. But why give your money away invest in your own future. You can get a nicely rehabbed home for about $139,000 in most parts of the city
0 votes Thank Flag Link Thu Jan 17, 2013
Hi Shanon,

You may be able to qualify for an FHA loan as well as a grant to help with down payment and closing costs to keep your payment under $1,000. Feel free to contact me tomorrow and I can put you in touch with a loan officer to see what you can qualify for.

I look forward to hearing from you!
0 votes Thank Flag Link Thu Jan 17, 2013
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