Home Buyer Programs
Current Home Buyer Programs for 1st Time Home Buyers in Prince George County and Howard County.
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Prince George County"Pathway to Purchase" Offers Up to $10,000 Down Payment and Closing Costs for First Time Home Buyers in Prince George's County
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
PURPOSE: To assist homebuyers with financing for settlement/down payment costs.
SCOPE: Loans are available through Howard County Housing for settlement and down payment costs. All loans will be deferred, due upon sale of home, refinance, or default. Low interest rates at 2 points below the primary mortgage interest rate. Lenders will process all requests.
ELIGIBILITY: Applicants must meet the following:
- Income limits: See income chart located in the information packet below – page 4 (income limits subject to change every January and July).
- House price limit: $429,620 (CDA purchase price limit for Howard County applies)
- First-time homebuyer for HomeStarter, HomeSteader, and DreamMaker Loans. First-time homebuyer restriction not required for Revitalization and Workforce Initiative Loans
- Have a minimum of $1,000 to apply towards settlement/down payment costs plus one month PITI (mortgage payment) in savings account
- Lack sufficient funds to pay for the total settlement/down payment costs
- Must be approved for a fixed rate primary mortgage loan
- More information on program income limits, buyer contribution, area median income, debt requirements, and other application details can be obtained as follows: SDLP Information Packet or call Department of Housing & Community Development at 410-313-6318, option 4