Bridget's Blog

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First Time Homebuyer Money Prince George's County

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 

My HOME

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

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  Corridor Mortgage Group.   410-960-2061 EHO   bmcgee@corridormtg.com or marylandmortgagemama@gmail.com

 

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.

Comment balloon 2 commentsBridget "Mortgage Mama" McGee • December 22 2011 09:40PM

Comments

Thanks Bridget, for summing this program up so nicely! Certainly a great opportunity for PG County 1st Time Home Buyers! You are too humble though - you should have highlighted that you you are My Home certified!

Posted by Andrea Bedard, M.A.; REALTOR® Silver Spring, MD and beyond (Thompson Company, REALTORS®) almost 7 years ago

Bridget, hopefully your blog will make a difference in someone seeing that there are programs that make it possible to purchase a home. Your community is fortunate to have you uncovering new possibilities for them. Have a great holiday, Emily

Posted by Emily Medvec Qualifying Broker, Realtor | Serving Santa Fe & Northern NM (Hello Realty Partners) almost 7 years ago

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