Home Buying in 20784>Question Details

jamalmj79, Renter in 20784

I'm Looking for First Time Home Buyer Programs in PG County

Asked by jamalmj79, 20784 Fri Aug 24, 2012

My wife and I are looking to buy but don't have much for a down payment. We make too much for most of the first time home buyer programs we've seen(110k gross). We were thinking about borrowing from our retirement and getting an FHA loan but have decided to go to a NACA workshop tomorrow instead.

We know the NACA process is long and wanted to explore other options. We went to an open house and the agent told us about CDA loans. I have a co-worker who told me his cousin bought a house in Waldorf last year and got 50k in down payment help. Are there any programs in the area that offer significant down payment help?

We just started looking two weeks ago and have had light contact with several realtors but haven't made any decisions yet. So, we are still in the market for one.

Help the community by answering this question:


Hi Jam,

There are many programs available, but a review of your full financial picture and particular areas of interest would be needed to determine which ones would be options for you. Let me know if I may be of assistance.
0 votes Thank Flag Link Sat Aug 25, 2012
I think the next step is to start working with a loan officer to determine what programs are available to you- I have worked with a senior loan officer who is excellent - his name is Jeff Halbert with First Home Mortgage- cell is 301-802-1944 and office is 240-965-8135.. I have recently sold a few homes in waldorf and noticed that there are some great buys for the money there. If you are interested in loking in Waldorf let me know! My cell is 301-785-1995
0 votes Thank Flag Link Sat Aug 25, 2012

There are downpayment assistance programs available to you and your wife at your income level. Each program have certain areas of coverage within Maryland and within the targeted counties. Once you have decided which Realtor to use, that Realtor will be able to give you details about the programs that you qualify for. So yes, credit permitting, you could get up to $5K or more in downpayment assistance.
0 votes Thank Flag Link Fri Aug 24, 2012

I suggest exploring the USDA loan product. With USDA, you don't have to put any money down!

Feel free to contact us for more assistance. We'd be happy to answer any questions and/or concerns you may have.

Wishing you the best,

0 votes Thank Flag Link Fri Aug 24, 2012
There are plenty of programs to help with down payment and closing help in Prince Georges county also you may get seller contributions to your closing help coupled with short sales foreclosures and motivated sellers you should have no problems finding a home. the only question is how is your credit? contact me!
0 votes Thank Flag Link Fri Aug 24, 2012
Hi Jamalmj79,

CDA is an valuable opt offering a possible 3 closing assistance. Coupled with another 3% you have closing cost and more on your behalf. you have your down payment. Depending on where you are lookng to buy Suitland has a program called Buy Suitland. College Park and Bowie have programs for teachers and police. .
0 votes Thank Flag Link Fri Aug 24, 2012
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