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Maryland Veterans Homeownership Initiative
MD Dept. of Housing & Community Development (DHCD)
http://www.dhcd.state.md.us/Website/programs/cdammp/lp.html

Program Overview

Maryland Veterans Homeownership Initiative is a special initiative between Maryland's Department of Housing & Community Development and Prince George's County to offer downpayment and closing cost assistance to lower-income Veterans purchasing a vacant foreclosed property within designated areas of Prince George's County. Purchase in one of the eligible zipcodes described below or go to http://www.neighborhoodrevitalization.org/NCI.aspx and click on Prince George's County.

Property Eligibility Requirements

Vacant, foreclosed properties located in the following zip codes are eligible: 20607, 20608, 20613, 20623, 20705, 20706, 20707, 20708, 20710, 20712, 20715, 20716, 20720, 20721, 20722, 20735, 20737, 20740, 20743, 20744, 20745, 20746, 20747, 20748, 20769, 20770, 20772, 20774, 20781, 20782, 20783, 20784, 20785. Targeted zip codes include: 20706, 20708, 20716, 20743, 20744, 20746, 20747, 20748, 20772, 20774, 20783, 20785 Allowable property types: Single family detached, townhouse, condominium

Benefit Details

Up to 20% downpayment , plus the closing costs towards the purchase of a vacant, foreclosed home Benefit: The veteran must agree to participate in the Maryland Mortgage Program. The assistance is a 0% deferred loan, payable upon sale or refinance or moving from the property. Loan Term: 40 yrs. years Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.