About Baltimore's Lauraville

Baltimore's Lauraville: I thought It Was For The Rich

I grew up in a neighborhood of modest rowhouses, but not far from my neighborhood was one with single homes with big front porches and lavish landscaping. I thought that it was where rich people lived. Although, I still admire this neighborhood every time I drive down its tree lined Walther Avenue, I now realize that it is not only beautiful but, also, very affordable.

In a larger sense there is a group of communities which are called Greater Lauraville. In fact, one of these communities is called Beverly Hills, so you can see that there is more than one reason to think that it is for the rich.

Basically, this region of the city starts at Herring Run Park and heads easterly. Shopping and entertainment are very convenient with the Belair and Harford Road corridors providing plenty of shops. The far northwest of the neighborhood is bounded by the sprawling campus of Morgan State University, which provides a refreshing feel of youthful ambition.

Several buses go through the major roads in the area taking people into and out of town or cross town, yet not interfering with the otherwise tranquil feeling of the side and back streets.

Many people find that living in this city neighborhood with its suburban feel is a less costly alternative to the outlying communities. In fact, they find that their commuting times to work are cut in half by living further in and not having to take the grid-locked "expressways".

The homes are primarily single family with a few row and semi-detached houses. Almost any architecture can be found, from bungalows and cottages to stately brick front colonials.

Here is a sampling of the homes from Lauraville.

Lauraville is located in North East Baltimore City. It is a community featuring many home owner opportunities. Lauraville is a middle-class neighborhood of large and modest sized homes. What separates Lauraville from most neighborhoods is its people. Teachers, poets, nurses, actors, lawyers, classical musicians, bankers, factory workers, secretaries, the young, the old and everyone in between come to the area for different reasons, but they stay because the neighbors care for one another.

Greater Lauraville neighborhood association provides information and services for the community and provides a link to many government offices.

On September 27, 2008 starting at 11:00 am the Greater Lauraville Fair will start. There will be something for everyone including a free petting zoo, beer from The Brewer's Art, sack races, free puppet shows by Black Cherry Puppet Group, crafts, fine art, wine from Chameleon Wine Cellars, Ray of Hope Choir & Dancers, Zeke's Coffee, Pie-Eating Contest, Fried Fish & Chicken, and so much more...

11 a.m. to 6 p.m., 4100 Harford Road in Herring Run Park between Harford Rd and Walther Ave.

You don't want to miss it!

The Baltimore neighborhood of Greater Lauraville is a Healthy Neighborhoods member. As such, there are a number of home improvement resources for local residents. And, it is now possible for qualifying purchasers to receive a $10,000 matching grant for home improvements. Here's an overview of the products and services:

1. TARGET BLOCKS: Are you on a Healthy Neighborhoods Target Block? To find out click here: http://www.healthyneighborhoods.org/pages/lauraville.html

If you live on a target block you qualify for either the home renovation loan (detailed below) or the refinance/rehab loan. Both loan products are able to access the $10,000 matching grant. The refi/rehab loan's terms are always 1% below the Fannie Mae rate for 30 years. The loan amount may go up to 120% of the post-construction value of the home. The term sheet is attached.

TARGET BLOCKS: Potential residents also qualify for the Healthy Neighborhood Initiative (HNI) acquisition/rehab loan. With similar terms to the refi/rehab loan, except a 3% down payment is required. See the attached term sheet for more information.

1. All homes in the Greater Lauraville catchment area qualify for the renovation loan. Terms are set at 1% below the Prime interest rate for up to ten years.
2. Matching Grant: this is the only HNI product with income limits. They can be found in the table below. If your household is within the income limits and qualifies for a home renovation loan, you qualify for a matching grant of up to $10,000 toward those renovations. The grant is available with all three loan products: refi/rehab, acquisition/rehab, and renovation.
3. Free architectural advice: once an applicant has been pre-qualified by the Neighborhoods of Greater Lauraville, Inc. and approved by HNI staff, they will be contacted by the HNI architect who will review renovation plans, contractors' estimates, budgets and timelines. Once the scope of work is complete the architect will certify the application and forward the packet to Bradford Bank (the servicing financial institution for the loan product).

For more information about his program you should contact Lorrie Schoettler the Executive Director of Neighborhoods of Greater Lauraville, Inc. located at 3009 Montebello Terrace, Baltimore, MD 21214 and by phone 410-444-9188

You will need the following information if you wish to schedule a pre-qualification meeting with Lorrie:

• $50 pre-qualification fee to Neighborhoods of Greater Lauraville, Inc.
• Amount you are applying for, list of projects and any estimates received
• Credit Report - do not worry if you haven't pulled one recently, Lorrie can pull one there.
• Proof of income and bank accounts.
• Current mortgage information including P&I, insurance and taxes.
• List of outstanding debts.