PG county’s My Home Program

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Are you a first-time home buyer? Are you planning to purchase in Prince George’s County? Make sure you check out the My Home program. This program will assist with the down payment, reduce the mortgage principal, and/or assist with closing costs. Along with being an owner-occupant and being a first-time buyer, purchasers need to be credit worthy and attend a 8-hour housing counseling class provided by a HUD certified housing counseling agency. Borrowers are eligible to borrow up to 5% of the purchase price for a 10 year term. The kicker is that the loan is offered at 0% interest. The loan is also deferred, meaning there are no monthly payments! The balance is due upon sale or transfer of the property or when the owner ceases to occupy the property. This program is excellent for renters looking for a route to home ownership. For more information on this program, click here. There are many alternatives to saving a large down payment. Contact me and I’ll find something that meets your needs!

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