Great info for PG County home buyers.
1st time home buyers in Prince George's County, Maryland, have a down payment assistance program which can qualify buyers for grants of up to $20,000.
The Neighborhood Stabilization Program can provide down payment or closing cost assistance in the form of a deferred loan. Stay in the house for 10 years and the loan doesn't have to be paid back.
Here are some of the details and more can be seen on this PG County link:
- Loans will be made on foreclosed homes only.
- 33 PG County zip codes qualify for the program.
- The program does have income limits.
- Only qualified lenders can be used.
- Property has to appraise for 101% of the sale price.
- Homebuyer training is required.These are just some of the highlights of the Neighborhood Stabilization Program. More details can be found on the PG County website and this main index page for the NSP.This is a fantastic way to get a grant to purchase your first home in PG County. The money is there now, so don't delay. Government programs have a way of running out of money or terminating when you least expect it.If you need additional information, contact your Realtor. If you're not currently working with a Realtor, I can help. Call or email me at your convenience.This is a great example of government assistance accomplishing two objectives to help mitigate the housing challenges in their community. Assistance to 1st time homebuyers, and, getting foreclosed homes off the market. Way to go Prince George's County.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
If you or someone you know would like information about buying, selling, or renting a home in Prince George's, Montgomery, Charles, Calvert, Anne Arundel, Howard, and/or Baltimore Counties please contact Dr. Stacey-Ann Baugh of Century 21 New Millennium.
Dr. Stacey-Ann Baugh
Century 21 New Millennium
FINALLY! A DOCTOR WHO MAKES HOUSE-CALLS!
Information deemed reliable but not guaranteed!