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
- Emergency Medical Technician
- 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
Danielle J. Gaynor, RCC, MSRE
Residential & Commercial REALTOR®
Bennett Realty Solutions
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