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HOMEBUYER SAVINGS

$8 Million Available in Down Payment and Closing Cost Assistance
My HOME and My HOME II Program


The My HOME program offers $$$ incentives to buy a home in Prince George's County. Up to 5% of home sale price (through My HOME) or up to $20k (through My HOME II) to qualified homebuyers who have not owned a home within the last 3 years.

Through a combination of state and federal sources, the County has acquired over $8 million to use toward Down Payment and Closing Cost Assistance loans. The County's Department of Housing and Community Development (DHCD) oversees the My HOME / My HOME II Program, which is NOW accepting new applications and granting assistance to Prince George's County homebuyers.

My HOME Details:

  • The purchase property DOES NOT HAVE TO BE A FORECLOSED PROPERTY. The MY HOME program is open to all residential sale properties in Prince George's County . . . including short sales, single family, townhome, condominium, foreclosures and new construction. The buyer must occupy purchased property as their primary residence.
  • Purchase property price limits are $295,000 for resales and $375,000 for new home construction
  • Down Payment Assistance (DPA) is NOT restricted to specific zip codes. Under My HOME all areas of Prince George's are eligible.
  • Applicant must be a first time home buyer, defined as "not owning a home within last three years."
  • The amount of down payment assistance (DPA) is 5% of the property sale price.
  • Buyer must contribute 1.75% of purchase price toward transaction or 50% of liquid assets over $3,000 (which ever is greater).
  • The maximum household income limit is 80% Area Median Income (AMI).
  • The DPA will be in the form of a deferred payment loan secured on the property as a second trust. Repayment is required if ownership is less than 10 years.
  • Applicants must attend 8 hours of HUD approved financial counseling classes.
  • My HOME Program Guidelines and Manual >

Income Limits for a Affordable Housing Program

Household Size My HOME
80% Area Median
MY HOME II
120% Area Median
1 $60,200 $90,150
2 $68,800 $103,000
3 $77,400 $115,900
4 $86,000 $128,750
5 $92,900 $139,050
6 $99,800 $149,350
7 $106,650 $159,650
8 $113,950 $169,950


My HOME II Also Available in Targeted Zip Codes

Details on both programs will be made available at the Redevelopment Authority's My HOME Program website. You may call the Redevelopment Authority at 301.883.7323 for program details.

Contact a REALTOR® today >

My HOME Program Guidelines

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