The Prince George’s County “Pathway to Purchase” Program, a $10,000 Down Payment Assistance program that started in January, is now over for the year. The amount the County allocated to provide for the year in down payment money has been spent by the sheer number of interested applicants who took advantage of the loan program quickly.
“This year was like other prior years for Prince George’s County — when the County basically gives money away for down payments, there is a lot of interest very quickly,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “The County programs year after year cause a flood of home buyers to take advantage of the assistance money while it is available. It is considered ‘normal’ for down payment assistance funds to run out by May or June of each year.”
If you missed the chance to use the Pathway to Purchase program, don’t be sad! The State of Maryland gives out assistance all year long, every year for the past 30 years through the Maryland Mortgage Program (MMP).
It’s been a healthy and active local real estate market in Prince George’s County all Spring. There is plenty of inventory for sale on the market, from starter condos to large single family homes. Here’s how to get started.
More details are available here on the Maryland Mortgage Program. You can Pre-Enroll to check your eligibility and ability to purchase a home in general, without a credit check!
Just getting started with wanting to buy your first home and want free advice from active real estate agents? We’re here and available to guide you every single day by phone or in-person. Our Free Workshops calendar also gives you two casual seminar-style Workshops per week at our DC office and sometimes on location in Maryland!