Expansion of $8,000 Tax Credit
The IRS has recently released that the $8,000 tax credit will be expanded to be made available to first time homebuyer purchases made before December 1. Read More About This Option
Pending Downpayment and Closing Cost Assistance Program
Prince George’s County officials and the U.S. Department of HUD have been working to finalize the details of the Down Payment Closing Cost Assistance Program (DPCCA) that will provide assistance to targeted areas and individuals to reduce the inventory of foreclosed homes and increase homeownership opportunities. The list of eligibility requirements are to include but not limited to: for the purchase of foreclosed homes, loan limits, select participating lenders, income limits. The target areas will include: Bowie (20716), Capitol Heights (20743), District Heights (20747), Fort Washington (20744), Hyattsville (20783, 20785), Lanham (20706), Laurel (20708), Temple Hills (20748), Suitland (20746), Upper Marlboro (20772, 20774). The pending program is expected to be finalized in March. There is over $7 million dollars available for this program. To prepare to take advantage of it here’s what you should do:
- Ask your Realtor are they aware of the NSP Program
- Ask your lender are they a participating lender
- Attend a housing counseling and financial literacy class at a local Housing Counseling Agencies
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