Down Payment Assistance, PG County - My HOME Program

My HOME Program is a down payment and closing cost assistance program available NOW in PG County, MD.

The My HOME Program is worth up to 5% of a home's sale price.

The program is open to PG County homebuyers who have not owned a home in the past 3 years.

This is a no-interest loan that is applied towards down-payment and closing costs and will not need to be repaid if the homeowner owns and lives in the home for 10 years.

PG County Department of Housing & Community Development (DHCD) has listed the requirements of the My HOME Program:

• Applications are currently being accepted and funds are limited.
• Open to all properties for sale in PG County up to $362,790 (All areas of PG County and all home types are allowed)
• The buyer must occupy the home
• Buyer must contribute 1.75% of the sale price or 50% of liquid assets over $3000 which ever is greater
• Buyer must meet certain income guidelines
• Property will be subject to special inspections performed by a DHCD qualified inspector at no cost to the purchaser.
• Streamline 203K loans are acceptable
• Must be pre-approved through a DHCD lender