So we thought this information might be useful to those of you who have been looking for down payment and closing cost assistance to purchase a home in Prince George's County.
On Monday, February 28, 2011, the new Prince George's County My Home Program will be launched! This is great news for many buyers who previously wanted to participate in the NSP, but missed the opportunity. Not all lenders will be able to assist you with obtaining financing for this program, but we have you covered with a list of lenders that are participating.
Perhaps one of the most important things you need to know about the Prince George's County My Home Program is that FUNDS are limited. This is the reason why we're getting this information out to you now! We really don't want you to miss out.
contact us today for a free consultation at 240-737-2800.
Prince George’s County My Home Program
Closing Cost / Down Payment Assistance Loan Up to 5% of the sales price
Details
· Funds are LIMITED and are available first come / first serve
· All transaction types ( foreclosure, short-sale, traditional resale)
· Income Limitations Apply – 80% of Median *
· No payment required
· All Zip Codes in Prince George’s County
· Max sales price $362,790
· In person first time homebuyer counseling is required – 8 hours
· Home inspection required
· HQS required – completed by County at no cost to Buyer or Seller
· 203 K Streamlines allowed – HUD Consultant required.
· Asset Test – borrower minimum investment is the greater of 1.75% of sales price or 50% of liquid assets over $3,000.
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