Up to $20,000 Down Payment & Closing Costs
The Prince George’s County Purchase Assistance Program (PGCPAP) is providing home purchase assistance to eligible, first-time home buyers to purchase residential properties in Prince George’s County. Home purchase assistance includes down payment, mortgage principal reduction and/or closing costs.
- Purchase price limit: $462,000 (resale or new construction)
- Maximum loan amount: $15,000 for most cases
- Buyers who are one of the following may be eligible for up to $20,000
- Police Officer
- Deputy Sheriff
- Classroom Teacher
- Firefighter
- Emergency Medical Technician
- Nurse
- Household annual income up to 120% of the area median income (AMI) for the county
- Home buyer(s) must contribute a minimum of 1.75% of purchase price (includes earnest money deposits, appraisal fee, inspection fees, homeowner’s insurance premium, credit reports, termite, housing counseling fee and HQS Inspection)
- Loan terms: 0% interest, deferred payment, to be paid back when the home is sold, transferred or ceses to be the primary residence of the buyer(s) regardless of the length of residency
