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Real Estate

Maryland Announces ‘Triple Play’ Down Payment Assistance Program to Promote Prince Georges County


Maryland’s Department of Housing and Community Development announced yesterday the launch of the all-new TriplePlay Initiative within the Maryland Mortgage Program(MMP).  This is a program designed exclusively to assist homebuyers in Prince Georges County.

TriplePlay is backed by $100 million in funding with a goal of promoting homeownership and applies to homes purchased in several Prince Georges zip codes. Locations include Capitol Heights, Suitland, Lanham, Oxon Hill, District Heights, Upper Marlboro, Temple Hills, Fort Washington, Riverdale, Landover, Landover Hills, parts of Hyattsville, Bladensburg and Brightwood.

Here’s the basics:

  • Homebuyers purchasing a home in Prince George’s County may be eligible for up to $20,000 of down payment and closing costs assistance.
  • Buyers are eligible for a reduced Maryland Mortgage Program interest rate on their mortgage.
  • Maryland is waiving its fees to receive the Maryland HomeCredit, which allows buyers to also claim a federal income tax credit of up to $2,000 for as long as the Maryland Mortgage Loan is outstanding.

“This really is a Triple Play that home buyers can take advantage of.  The state’s putting up down payment cash, reduced interest rates and federal tax credits, all in support of Prince Georges County. This validates our focus and what we’ve been telling everyone about Prince Georges,” commented Gerard DiRuggiero. “The County has massive opportunities for first time homebuyers or those on a budget. You get a choice of neighborhoods almost adjacent to DC or can go further out for more room to really spread out.”

The Triple Play Program is not just for first time home buyers. “Like any funded program, there’s lots of rules, details, policies and qualifications required in order to actually receive the financial help,” continued Gerard. “In this case, when you dig into the details, you find that Triple Play is available to any County resident who has not owned a home for the past 3 years.  It’s also available if you sell a home that own outside of the target County zip codes that Triple Play applies to. In theory, you could sell your home in Bowie and buy a home under Triple Play in Suitland.”

More details are available tomorrow at our Prince Georges $0 Down Home Buyer Workshop at our offices at 913 Florida Avenue, NW. Check it out on Facebook or  email Info@UrbanLandCompany.com.

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