Pathways to Purchase
As a replacement for the My Home program, Prince George’s County released Pathways to Purchase which is available now. The key details are:
- $10,000 in forgiven down payment and closing cost assistance. Every year you live in the property, they will forgive $1,000 and so after 10 years the entire assistance is forgiven.
- Required buyer contribution of 1.75% of the sales price. So on a $250k house, your required contribution is $4375. You of course need to cover the down payment and closing costs not covered by the $10k assistance and if applicable a seller closing cost credit.
- Maximum home purchase price allowed is $399,000.
- Required home quality inspection which must pass. Cost is $139. Order at http://www.hudpass.com
- Minimum closing time frames 60 days+ to allow time for the county to perform their doc review.
- First time buyer counseling required from one of these agencies
The income caps which are based on household income are
Ready to pre-qualify? Start here.
Or reach out to firstname.lastname@example.org or 240-479-7658