Prince George’s Gets $100 Million to help Home Buyers

As you may know, Prince George’s county was impacted severely by the foreclosure crisis. In response, the state is incentivizing home buying with the announcement of a program to help with down payments and other ownership costs.

The Maryland Department of Housing and Community Development will offer up to $20,000 toward a down payment and closing costs. The Maryland Mortgage Program TriplePlay Initiative could help up to 500 families buy homes in parts of Prince George’s that were hardest hit by foreclosures.As part of the TriplePlay initiative home buyers also qualify for a reduced interest rate and the right to claim a federal income tax credit of up to $2,000 for the life of their mortgage.

This programs sounds like a great idea and all prospective home buyers should look into this. For more information go to the MMP Triple Play.