FIRST TIME HOMEBUYER MONEY IN PRINCE GEORGE'S COUNTY
You are considered a 1st time homebuyer if you haven't owned a home in at least 3 years.
Grants are available for Down Payment and Closing Cost Assistance, income limits apply.
8 hour HUD housing counseling course is required
recipients must contribute 1.75% of the final purchase price or 50% of liquid assets (checking and saving accounts) over $3,000, whichever is greater.
Grant money available for up to 5% of the purchase price of the home.
Maximum Debt to Income (DTI) can't exceed 45%. DTI equals the percentage of GROSS monthly income that goes to pay consumer debt e.g. credit cards, student loan payments, etc.)
The MY HOME grant is a 10 year loan with no payments and no interest unless the owner moves or refinances before the 10 year minimum. The home MUST be the PRIMARY residence for the entire loan term or the loan will become due and payable (amount due pro-rated by years left on the term).
Must be Pre-Approved by a MY HOME certified lender.
If you are considering a home purchase in Prince George's County, Maryland, call Mortgage Mama today to get pre-qualified and learn more about the program.
**DOWN PAYMENT AND CLOSING COST ASSISTANCE IN PG COUNTY, MD**
FIRST TIME HOMEBUYER GRANT IN PRINCE GEORGE'S COUNTY
If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure!
If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest. Please contact me at 410-960-2061.