Real Estate

Pathway to Purchase Program For Prince George’s County

Prince George’s County has yet again raised the bar for area local county-specific mortgage programs. Going on right now for a limited time is the new Pathway to Purchase Programa specialty mortgage for first time home buyers that gives you $10,000 toward Down Payment and/or Closing Costs when you buy a home under $313,000 in the county.


Pathway to Purchase is offered through the Maryland Mortgage Program (MMP), in place now for over 30 years in the state of Maryland. The Pathway program will be offered until the County’s allocated funds are exhausted. The program went live on January 1, 2017 and is currently still available. You’ll want to get started quickly – the Prince George’s County specialty mortgages tend to run out of funding in 90 – 120 days from their launch in previous years.

“The programs in Prince George’s County are evolving quickly,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “The Pathway to Purchase program introduces a forgivable down payment assistance loan where the $10,000 you receive reduces automatically by 10% per year for 10 years, ending in a zero balance due. These programs are especially popular with home buyers due to the fact you never pay the actual money back.”

The down payment loan that Pathway to Purchase offers is forgivable, but there is one catch. The home buyer using the loan must be able to contribute 1.75% of the home’s purchase price on their own. The $10,000 in assistance can be used for the amounts remaining for Down Payment and closing costs after the buyer pays the 1.75% contribution.

Here’s details on how the Pathway to Purchase works:

  • $10,000 in Down Payment & Closing Costs Assistance
  • Required buyer contribution of 1.75% of the purchase price of the home
  • Homes must be under $313,000 in purchased price
  • You must live in the home 10 years
  • The loan is forgivable after 10 years with a $0 due balance
  • There are income limits for eligibility. Get the current limits now.

More details are available here, plus you can Pre-Enroll to check your eligibility and ability to purchase a home in general, without a credit check!



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