My Home Program Is Back! Downpayment and Closing Cost Assistance for Income Qualified Customers

Housing and Community Development News

Posted on: August 25, 2016

MY HOME II PROGRAM IS BACK! BEGINNING SEPTEMBER 1st

Largo, MD --- On September 1st, the Prince George's County Department of Housing and
Community Development (DHCD) will re-open the popular My HOME II Program which
provides first-time home buyers with up to $20,000 in down payment and closing costs
for the purchase of their home in Prince George’s County. Home buyers must be income eligible,
purchase a home one of 14 specific zip codes in the County and must pay back the zero percent
interest loan when the house is sold or transferred.

“We are extremely pleased to offer this program again,” says Eric C. Brown, Director of the
Prince George's County Department of Housing and Community Development.
“Hundreds of new home buyers have been assisted with their home purchase through this program
since 2013. Any residential property can qualify within certain zip codes, including new construction,
 re-sales and short sales, even foreclosures.”

Delante Davis won down payment and closing cost assistance for his first home as a
House Lottery winner at the Prince George's County 2016 Housing Fair in June.
He closes on his first home today and is excited to receive $10,000 toward the purchase
of his home after renting for 7 years. Since Mr. Davis is a Prince George’s County school teacher,
he is also eligible for a .5% exemption on County transfer taxes. Thirty-one year-old Davis will
 purchase a town house in Suitland and begin his path to homeownership.

The My HOME II Program will operate until the money has been exhausted or until
December 31, 2016 whichever occurs first. There are program requirements, including
the income eligibility of the buyer, associated with the My HOME II Program and
interested home buyers should carefully review the information to make sure they
 understand the program and its rules and regulations.

For more information about the My HOME II Program, please
visit the website beginning September 1, 2016 at:
www.princegeorgescountymd.gov/865/Redevelopment-Authority

See chart below for eligible County zip codes:

ZIP CODE COMMUNITY
20706 Lanham
20710 Bladensburg
20722 Brentwood
20737 Riverdale Park
20743 Capitol Heights
20744 Fort Washington
20745 Oxon Hills
20746 Suitland
20747 District Heights
20748 Temple Hills
20772 Upper Marlboro
20774 Upper Marlboro/Largo
20784 New Carrollton
20785 Landover/Hyattsville

Household Size  50% Area Median  80% Area Median

1                          $37,450                   $59,950 

2                          $42,800                   $68,500

3                          $48,150                   $77,050

4                          $53,500                   $85,600

5                          $57,800                   $92,450

6                          $62,100                   $99,300

7                          $66,350                   $106,150

8                          $70,650                   $113,000

My Home Program Is Back! Downpayment and Closing Cost Assistance for Income Qualified Customers

Housing and Community Development News

Posted on: August 25, 2016

MY HOME II PROGRAM IS BACK! BEGINNING SEPTEMBER 1st

Largo, MD --- On September 1st, the Prince George's County Department of Housing and Community Development (DHCD) will re-open the popular My HOME II Program which provides first-time home buyers with up to $20,000 in down payment and closing costs for the purchase of their home in Prince George’s County. Home buyers must be income eligible, purchase a home one of 14 specific zip codes in the County and must pay back the zero percent interest loan when the house is sold or transferred.

“We are extremely pleased to offer this program again,” says Eric C. Brown, Director of the Prince George's County Department of Housing and Community Development. “Hundreds of new home buyers have been assisted with their home purchase through this program since 2013. Any residential property can qualify within certain zip codes, including new construction, re-sales and short sales, even foreclosures.”

Delante Davis won down payment and closing cost assistance for his first home as a House Lottery winner at the Prince George's County 2016 Housing Fair in June. He closes on his first home today and is excited to receive $10,000 toward the purchase of his home after renting for 7 years. Since Mr. Davis is a Prince George’s County school teacher, he is also eligible for a .5% exemption on County transfer taxes. Thirty-one year-old Davis will purchase a town house in Suitland and begin his path to homeownership.

The My HOME II Program will operate until the money has been exhausted or until December 31, 2016 whichever occurs first. There are program requirements, including the income eligibility of the buyer, associated with the My HOME II Program and interested home buyers should carefully review the information to make sure they understand the program and its rules and regulations.

For more information about the My HOME II Program, please visit the website beginning September 1, 2016 at: www.princegeorgescountymd.gov/865/Redevelopment-Authority

See chart below for eligible County zip codes:

ZIP CODE COMMUNITY
20706 Lanham
20710 Bladensburg
20722 Brentwood
20737 Riverdale Park
20743 Capitol Heights
20744 Fort Washington
20745 Oxon Hills
20746 Suitland
20747 District Heights
20748 Temple Hills
20772 Upper Marlboro
20774 Upper Marlboro/Largo
20784 New Carrollton
20785 Landover/Hyattsville

Household Size  50% Area Median  80% Area Median

1                          $37,450                   $59,950 

2                          $42,800                   $68,500

3                          $48,150                   $77,050

4                          $53,500                   $85,600

5                          $57,800                   $92,450

6                          $62,100                   $99,300

7                          $66,350                   $106,150

8                          $70,650                   $113,000

Now For Rent! Gorgeous Home in Villages of Marlborough

Gorgeous Upper Marlboro Rental 11601 Assisi Street in zipcode 20772

New Price for 5929 89th Avenue New Carrollton!!!

Virtual Tour

New Price For A Gorgeous Rental Property in Bowie

Gorgeous Bowie Townhome For Rent - Perfect Location

Open House for 5929 89th Ave New Carrollton 8/15 & 8/16 1-4pm

3707 Elmcrest Lane Bowie MD Rental Listing

You've Earned It Downpayment Assistance Program

The MMP "You've Earned It" Initiative

​

You’ve worked hard to get your education, and it didn’t come cheap. For many people, investing in an education means carrying long-term student debt, which can become a barrier to achieving the dream of homeownership.

For a short time, the Maryland Mortgage Program is offering a 2.75% mortgage rate* and up to $10,000 in Down Payment Assistance to qualified homebuyers who have a student loan debt of $25,000 or more.

The MMP “You've Earned It!” program is open to potential homebuyers who are buying a home through the Maryland Mortgage Program in one of Maryland’s “Sustainable Communities”.

For all program details and eligibility requirements, please refer to the MMP "You've Earned It" Fact Sheet.

_{*APR (Conventional) - 3.159%; APR (FHA) - 3.738%; APR (VA) - 2.914%. Please contact a participating lender for further details on the APR.}

---

Sustainable Communities

Maryland's Sustainable Communities are regions across the state where governments, business and communities cordinate investments to achieve sustainable growth,good jobs and thriving neighborhoods.

The Department of Housing and Community Development (DHCD) has created anonline mapping tool to help you identify whether a property is in a Sustainable Community simply by typing in a street address.  

---

Getting Started

If you're ready to take advantage of this special program:

1. Talk to a Lender - Your lender can help you confirm your eligibility for the Maryland Mortgage Program and the You've Earned It! initiative and will make sure you meet all the requirements, such as attending the right Homebuyer Education Class.  
2. Check Your Eligibility to see whether you can apply for an MMP loan. Note that being eligible to apply does not guarantee approval, and lenders will take into account things like your income, credit history and employment situation when considering your application.
3. Complete a Homebuyer Education Class - Completing a Homebuyer Education prepares you to make the right decisions when purchasing your home.  Homebuyer Education classes are available throughout Maryland, and are provided by a range of Community and Non-Profit organizations as well as local government housing agencies.
4. Learn about Down Payment Assistance - The Maryland Mortgage Program provides help in the form of Down Payment Assistance (DPA) alongside a range of Partner Match programs from employers, developers and community organizations that can cover down payment and closing costs.

You must have Adobe Reader to view and print PDF documents on this page. If you do not have it, download it for free.

Budget Town Hall Meeting - Super Important!

...FOR YOUR INFORMATION... Learn the specifics behind the County Executives budget and education spending plan at a special event TONIGHT hosted by the Prince George's County Council.  The County Executives' 2016 budget proposal includes a 15% real property tax increase to fund education.  Attend this evening and BE INFORMED! Listen/Watch Live

Copyright © 2014. All Rights Reserved.