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"DC Open Doors" pays your Down Payment for you on a home purchase in DC. The money does not have to be paid back. You must have:
  • Less than $125,580/year in income
  • Have fair to good credit (660+)
UrbanLand Company Agents have over $33.7 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Virginia Housing Development Authority (VHDA) pays your Down Payment when you meet certain criteria. The money does not have to be paid back. You must have:
  • Less than $97,520/year in income (1-2 person households)
  • Less than $113,840/year in income (3+ persons)
UrbanLand Company Agents have over $33.7 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
The Maryland Mortgage Program loans you up to $8,500 in Down Payment Assistance. There's additional incentives from specific Maryland employers + great student loan incentive programs.
  • Incomes lower than $88,400 for 1-2 person households are eligible
  • Incomes between $88,400 & $128,760 may be eligible, based on county
UrbanLand Company Agents have over $33.7 million in successful $0 Down and low down payment home sales. Set Appointment $0 Down Loan Estimate Or, get to know us in our Free Home Buyer Workshops
 

Buyer Assistance Programs

Brentwood (20722) ‘My Home II’ Target Homes – Up to $20K Towards Down Payments!


Brentwood’s 20722 zip code qualifies for up to $20,000 in Down Payment assistance through the new “My Home II” first time homebuyer program in Prince George’s County.  In case you missed it, on 9/1/2016 the County reactivated a popular Down Payment assistance program for the remainder of 2016.  Brentwood’s 20722 zip code is 1 of the 14 included target areas for home buyers to use the assistance funding.

brentwood-20722-myhomeII-zip-codeSponsored by Prince George’s County Department of Housing and Community Development (DHCD), the My HOME II Program will provide first-time home buyers with up to $20,000 in down payment and closing costs for the purchase of their home in Prince George’s County.

Home buyers must be income eligible, purchase a home one of 14 specific zip codes in the County and must pay back the zero percent interest loan when the house is sold or transferred.

Here’s 10 examples of current Brentwood homes for sale in the 20722 zip code! Some of these homes have been on the market for a bit, so there may be deals here from sellers who NEED to sell. This zip code borders DC’s Northeast boundary and makes for an easy commute in if you work in the city!

[idx-listings zip=”20722″ minprice=”100000″ maxprice=”400000″ statuses=”1″ propertytypes=”132″ orderby=”DateAdded” orderdir=”ASC” count=”10″]

Here’s the details on the incentives:

  • Up to $20,000 in Down Payment & Closing Costs assistance (based on 5% of home purchase price)
  • Valid for homes purchased in 14 Prince George’s Zip Codes including several along the DC NE boundary.
  • Must be income eligible based on 120% of Area Median Income (details still to come on income!)

This is a loan that does have to be repaid in the future, but it is at 0% interest. The strategy here for the first time home buyer is to take the loan and pay it back using equity and capital gains when you sell the house in the future. It’s an easy process without much risk. Every time you make your mortgage payment, you build equity in the home. Prince George’s County homes give you even more advantages when using this strategy – home prices dropped during the recession and have not fully increased to prior levels yet. There’s major room for appreciation in the value of the home you buy.

The My HOME II Program is available from 9/1 through 12/31/2016, a very limited window. If the County’s allocated funding is exhausted prior to 12/31, then the program will end early. ‘My Home II’ Down Payment loans can be used in 14 different Prince George’s County zip codes. More homes for sale can be found on the links!

20706 Lanham
20710 Bladensburg
20722 Brentwood
20737 Riverdale Park
20743 Capitol Heights
20744 Fort Washington
20745 Oxon Hills
20746 Suitland
20747 District Heights
20748 Temple Hills
20772 Upper Marlboro
20774 Upper Marlboro/Largo
20784 New Carrollton
20785 Landover/Hyattsville

Call UrbanLand Company at 202.759.4114 or email us to get started on using this program. “The program runs out when the funds are exhausted by the County. It can happen VERY QUICKLY,” concluded DiRuggiero.

Here’s some of the recent 1st time buyer homes we’ve sold in Maryland and DC recently:

 

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