For a limited time, eligible homebuyers in Prince George's County can take advantage of two incredible homeownership programs to get our most affordable home loan available.
The Redevelopment Authority of Prince George's County, through their Pathway to Purchase program, can provide up to $10,000 in down payment and closing cost assistance to be used in the purchase of eligible Prince George's County properties. Homebuyers can combine this with a Maryland Mortgage Program 1st Time Advantage Direct loan, which offers our lowest possible interest rate on a 30-year fixed-rate loan.
Down payment and closing cost assistance through Prince George's County's Pathway to Purchase program is available as a 0% interest loan that must be paid back when the home is sold, transferred, or ceases to be the primary residence of the buyer(s). However, the Pathway loan amount decreases at a rate of 10% per year and after 10 years is completely forgiven and the lien is released.
Homebuyers apply separately for each program - scroll down for information on steps to take to start your applications.
Eligible Properties
Homebuyers can purchase a home anywhere in Prince George's County. Eligible residential properties also include new construction, resale, short sales and foreclosures, as long as they meet other applicable program guidelines.
Learn More
For information on Prince George's County's Pathway to Purchase Program, including program income limits, buyer contribution, area media income and debt requirements, please call the County's Redevelopment Authority on (301) 883-5456. For more information, visit the
Pathway to Purchase website.
Getting Started
If you're ready to take advantage of these special programs:
-
Talk to a Lender - Your lender can help you determine if you meet preliminary eligibility for the Maryland Mortgage program (MMP). The lender does an initial review (including factors such as income, credit background, and employment history) in order to provide a "pre-approval" for the first mortgage. Full underwriting will take place later in the process. (The lender must be approved by both MMP and Pathway to Purchase in order to offer this combination. See the
list of approved lenders.) Being eligible does not guarantee approval.
-
Complete a Homebuyer Education Class - Complete an 8-hour class provided by a HUD-certified housing counseling agency. Completing a Homebuyer Education class prepares you to make the right decisions when purchasing your home.
-
Talk to a Realtor - Work with a real estate agent to place a contract on a residential property that can pass the HQS inspection. To be eligible for the Pathway to Purchase assistance, the property must be located in Prince George's County.
-
Schedule the HQS Inspection - The inspection must be done by American Property Consultants, Inc. (APC) after the contract is ratified. For more information, see the program
instructions.
- Return to your Lender - After the home passes the HQS inspection, return to the lender who pre-approved you. When the lender has completed the full underwriting process and obtained a conditional approval for your first mortgage, they can submit your application for review by the Pathway to Purchase program. You should allow at least 21 business days to process the application.
-
Closing - If you are approved for funding by the Pathway to Purchase program, the County will coordinate with your lender to provide the funds at closing. The lender will provide the funds for the first mortgage.
