How to Qualify for the Neighborhood Stabilization Plan in Prince George’s County

The Prince George’s County Neighborhood Stabilization Plan (NSP) gives eligible first time home buyers the opportunity to get up to $20,000 in down payment and/or closing cost assistance for buying a vacant foreclosed residential property in select Prince Georges County zip codes.

One major barrier to home ownership for first time home buyers is coming up with the money for down payment and/or the closing cost. This Down Payment on Your Dream Program helps remove this barrier.

Do You Qualify for the NSP?

Buyers must be a first time home owner. This means that a buyer must not have owned a home anywhere in the prior three years.

Buyers must live in the home as a primary residence.

Buyers annual household income must be within the program limits.

Buyers must use a NSP approved lender and be able to qualify for a mortgage.

Buyers must attend an 8-hour housing class. Upon completion of the class provided by a HUD Certified counseling agency the buyer must receive a Certificate of Completion.

Eligible Zip Codes

The vacant foreclosure property must be located in one of the following 33 zip codes:

20607, 20608, 20705, 20710, 20715, 20716, 20720,20721, 20613, 20722, 20743, 20623, 20735, 20740, 20747, 20744, 20769, 20770, 20781, 20782, 20783, 20784, 20785, 20706, 20707, 20708, 20712, 20745, 20737, 20746, 20748, 20772, 20774

* Get up to $15,000 to purchase a vacant foreclosed property in one of 33 zip codes.

The following zip codes are considered Target Zip Codes:

20716, 20743, 20747, 20744, 20783, 20785, 20706, 20708, 20746, 20748, 20772, 20774

* Get up to $20,000 to purchase a vacant foreclosed property in one of 12 target zip codes.

Terms of the Neighborhood Stabilization Plan

The NSP is a 0% deferred payment loan. The buyer is required to live in the home for 10 years. If the buyer lives in the home for less than 10 years then a repayment requirement will be assessed based on the amount of time that the buyers remains in the home.

For more information visit contact De'Vonne Batts, MBA, Realtor at (240) 737-2802.

Search MLS for Homes

How to Qualify for the Neighborhood Stabilization Plan in Prince George’s County