New Home Ownership Program Launches in Prince George's County, MD

By
Real Estate Agent with Exit Bennett Realty MD#634275
http://actvra.in/4Z97

 

"Pathway to Purchase" Offers Up to $10,000 Down Payment and Closing Costs for First Time Home Buyers in Prince George's County

     The Prince George's County Department of Housing and Community Development (DHCD) is launching a new home ownership program, entitled "Pathway to Purchase." This new program offers first-time home buyers up to $10,000 in down payment and closing cost assistance. Home buyers can purchase a home anywhere in Prince George's County. Eligible residential properties include: new construction, resale, short sales and foreclosures. DHCD will start accepting Pathway to Purchase applications on Monday, January 9th.

     Pathway to Purchase is a 0% interest loan program that must be paid back when the home is sold, transferred or ceases to be the primary residence of the buyer(s). However, the loan repayment has a 10% decrease per year and after 10 years, it is forgiven and the lien is released. The maximum purchase price of homes utilizing Pathway to Purchase assistance is $313,000.

     There are four loan programs accepted with Pathway to Purchase. Accepted loan programs are: FHA, Maryland Mortgage Program, VA and Conventional Loans. All home buyers using Pathway to Purchase must pass a Housing Quality Standards (HQS) Inspection as part of the application process. 

     Since 2012, the Redevelopment Authority has assisted over 600 home buyers purchase their first home in Prince George's County through the various home buyer assistance programs. More information on program income limits, buyer contribution, area median income, debt requirements, and other application details can be obtained as follows:

http://pgcar.com/pghome_homebuying/docs/Prince-Georges-Pathway-to-Purchase-Home-Ownership-Program-Guidelines.pdf  or Call the Redevelopment Authority at 301-883-5300.  If you need a Realtor® to help you find properties for sell in Prince George's County, call/text me at 301-502-2669 or email me at dwhitepettis@gmail.com!
 
Posted by

Diana White-Pettis, Associate Broker

Exit Bennett Realty

7701 Greenbelt Rd. #100

Greenbelt, MD  20770

Office: 301-459-5040

Cell: 301-502-2669

Direct line: 240-386-1309

Email: dwhitepettis@gmail.com

Website: www.diana4yourhomesdesire.com

 

Turning Your Homes Desire into a Dream Come True!

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Topic:
Lending / Financial
Location:
Maryland Prince George's County Upper Marlboro
Groups:
Active Rain Newbies
Realtors®
Tags:
homeownership
prince georges county md
diana whitepettis
pathway to purchase
new homeownership program
pghome

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Rainmaker
2,985,167
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Diana, sounds like a great program for Prince George County.

Happy New Year to you and yours, and Happy New Year! 

Dec 31, 2016 01:41 PM #1
Rainmaker
3,994,680
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is very good information to share with prospective home buyers.

Best wishes to you and your family for a Very Happy New Year!

Dec 31, 2016 04:59 PM #2
Rainmaker
357,505
Katina Hargrove 352-551-0308
Stake Your Land Realty, Inc. - Eustis, FL
Broker/Owner, GRI,SFR, Realtor

Diana,

Wonderful news for home buyers, wishing you much success in 2017.

Jan 01, 2017 04:35 AM #3
Rainmaker
1,803,437
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Great news for homebuyers in Prince George's County!  Happy New Year!

Jan 02, 2017 11:26 AM #4
Rainmaker
394,872
Marcus Rice, Richmond & Northern VA REALTOR/Principal Broker
Equity First Realty - Richmond, VA
CEO/Owner, CDPE, RAR, PWAR, BBB

Awesome! Great Blog!

 

Jan 02, 2017 04:42 PM #5
Rainmaker
3,085,108
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Diana

Thanks for sharing the information for the New Home Ownership Program, in Prince George County Maryland.

Good luck and success.

Lou Ludwig

Jan 04, 2017 07:57 PM #6
Rainmaker
352,870
Bridget "Mortgage Mama" McGee
Corridor Mortgage Group 410-960-2061 - Baltimore, MD
Maryland Mortgage Mama NMLS#196068

I was just speaking with an agent about options in PG County!  This sounds much easier than many of the hoop-filled, census-tract specific first time buyer programs that we have seen in the past from PG!  Combining this with the mortgage credit certificate to allow the buyer to get up to $2000/year federal tax credit for the life of their loan sounds like a HUGE win for PG County buyers!  

Jan 05, 2017 05:54 PM #7
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Rainmaker
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Diana White-Pettis

GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale
Are you looking to Buy or Sell with First Time Success? Call me!
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