Homebuyer Assistance Program

The City of Laurel Homebuyer Assistance Program is an initiative funded through the City’s Fiscal Year 2026 General Budget to support individuals and families seeking to become homeowners within the city limits. Managed by the Economic and Community Development Department, the program aims to ease the financial burden of purchasing a home for qualifying residents, with a focus on enabling first-time buyers to secure stable housing. Eligible applicants must either be first-time homebuyers or individuals who have not owned a home within the last five years. Additionally, the purchased home must serve as the applicant's primary residence and not be used as an investment property. Documentation is required to verify that the applicant has not purchased a home in the past five years, which may include a W-2 form, tax return, or other official proof. Upon verification of eligibility and successful closing on a home purchase, applicants must provide final settlement documents to the City. Following this submission, a one-time assistance payment of $5,000 will be issued directly to the homebuyer. The total program budget for Fiscal Year 2026 is $50,000, which will be distributed to ten qualified homebuyers, each receiving the standard assistance amount. Applications must be submitted through the designated online portal. It is critical that applicants ensure all information is accurate and complete, as submissions cannot be revised after submission. Only one application per individual will be accepted, and incomplete or inaccurate applications may result in disqualification from funding consideration. The program operates on a rolling basis, meaning applications will be accepted and reviewed in the order they are received, until the full $50,000 allocation has been exhausted. There is no fixed deadline, but applicants are encouraged to apply promptly due to limited funds. If additional guidance is needed, prospective applicants are advised to contact the City of Laurel Economic and Community Development Department. This homebuyer support initiative is part of the city’s broader effort to increase residential stability, promote long-term homeownership, and strengthen neighborhood investment. While there is no mention of recurrence for future years, the current funding covers the 2026 fiscal year, and the city will monitor demand and outcomes to inform potential future offerings.

Applicants are urged to submit accurate and complete applications. Incomplete or incorrect applications may be disqualified and only one submission is allowed per applicant.