TheFreeDownPayment.com News

NSP 2011

2011-01-15T05:47:00.000-08:00

************************Announcement****************************************

My down payment assistance Prince George's county will be the new name of the down payment assistance program replacing NSP. It is set to kick off in February of 2011. As more details become available be will keep you up to speed.

8 Hour Required HUD Approved Course

2011-01-15T05:20:00.000-08:00

Next HUD Approved Housing Counseling Agency Dates

Please register http://www.thefreedownpayment.com/class_registration.html

Registration 8:30 am
Starts @ 9
1 Break
class ends at 4:30 pm

Dates
January 8

January 22

February 12

February 26

March 12

March 26

April 9

April 23

May 7

May 21

June 11

Next HUD Approved Housing Counseling Agency Dates

2010-08-10T10:58:00.000-07:00

With the advent of Prince Georges County’s NSP (Neighborhood Stabilization Program) set to kick off in 2011, we are happy to announce that we will now offer monthly Saturday informational sessions for the first time homebuyers programs and down payment assistance. Additionally, we will review existing programs, HPAP offers up to $77,000 in the District of Columbia for first time home buyers.

1. In 2010 NSP outlaid up to $20,000 towards down payment and closing cost for foreclosures and distressed properties in Prince Georges County. It would be prudent to reserve your spot today, funds are limited.

Date: Saturday, January 8, 2011
Time: 10:00-11:30
Location: 9701 Apollo Drive Suite 230 Upper Marlboro, MD 20774
Cost: Free

Each session has a maximum occupancy of 10 seats; solidify your spot by filling out the attached registration form and return. Registration must be received by Friday January 7th at 12:00 pm to reserve your position.

Next HUD Approved Housing Counseling Agency Dates

Please register http://www.thefreedownpayment.com/class_registration.html

Registration 8:30 am
Starts @ 9
1 Break
class ends at 4:30 pm

Dates
January 8

January 22

February 12

February 26

March 12

March 26

April 9

April 23

May 7

May 21

June 11

June 25

$30,000 for Anne Arundel County

2010-07-30T05:58:00.000-07:00

Here is information to an additional program that became available!!!!

Arundel Community Development Services, Inc (ACDS) is currently offering down payment assistance in Anne Arundel County Maryland. The Mortgage Assistance Program (MAP) is designed for first time homebuyers needing assistance with down payments, closing costs, and reducing first mortgage amounts. Depending on your need, this program can provide up to $30,000 in assistance.
The funds are provided as a loan; however, no payments are required and the funds are loaned at zero percent interest. MAP loan amounts must be repaid when you sell your home, transfer the title, or in 30 years, whichever occurs first. Under certain circumstances you may be required to repay the MAP loan if you refinance your first mortgage. The dollar amount of the MAP loan is determined by ACDS staff in conjunction with your mortgage company. A lien for the amount of the loan will be placed on the property through a Deed of Trust.
Am I eligible for MAP funds?
To be eligible for the Mortgage Assistance Program, you must:

1. (1) be a first time homebuyer, which means you have not owned an interest in real property during the last three years,
2. (2) be a graduate of the ACDS Homeownership Counseling Program, and
3. (3) have a household income at or below the limits listed in the chart below.

Household Size:

1
Person

2
Person

3
Person

4
Person

5
Person

6
Person
Income Limit

$45,100

$51,550

$58,000

$64,400

$69,600

$74,750
As income limits are subject to periodic adjustments, you may want to call our office to confirm your eligibility.

For more Details Contact:
Andre Butters
Residential Mortgage Corporation
TheFreeDownPayment.com
AButters@thefreedownpayment.com
9701 Apollo Drive Suite 230
Largo, MD 20774
Tel 301-773-9811
Cell 240-602-7424 (Best Contact)

Next HUD Approved Housing Counseling Agency Dates

2010-03-12T08:07:00.000-08:00

Next HUD Approved Housing Counseling Agency Dates

Please register http://www.thefreedownpayment.com/class_registration.html

Registration 8:30 am
Starts @ 9
1 Break
class ends at 4:30 pm

Dates
March 13

March 27

April 10

April 24

May 8

May 22

June 12

June 26

Montgomery County Closing Cost Assistance (HOC)

2010-03-01T14:19:00.000-08:00

To Be Eligible:

At least ONE borrower must be working in Montgomery County.
Must be a first time home buyer. May not have owned or co-owned any residential property in the past 3 years. Three years of tax returns needed.
Buy a home costing no more than $429,619.
Total household income does not exceed current limits (see below).
MUST BE USED with the HOC First Trust Mortgage Purchase Program.
All HOC first mortgage interest rates can be used.

BORROWER MUST USE A HOC PARTICIPATING LENDER
Criteria:

Maximum loan amount is 5% of the sales price not to exceed $10,000.
Can be used to cover down payment, closing costs, escrows, or other prepaid expenses.
Current Maximum Sale Price is $429,619 - ALL Properties.
Current Maximum Income Limits: One person household $ 86,268**
Two person $ 123,240** Three or more: $ 143,780**

Up to $35,000 for Those who Work and Buy a Home in College Park

2010-02-24T14:02:00.001-08:00

Homebuyers who buy their home and work in College Park may be eligible to receive up to $35,000 in closing cost and down payment assistance through the WORK & LIVE COLLEGE PARK program.

CDA Eliminates MMP+ Program But Lowers Rates

2010-02-24T10:16:00.000-08:00

Effective 2/23/10, the 3% and 2% grants, by raising the rate, will no longer be offered. CDA has also announced that the rates will be lowered by .5%. That means 5.25% 0 points 5.125% with 1 point, 5% with 2 points and 4.875% with 3 points.

Remember, Prince Georges County employees can receive up to $18,500 in County grants and State 0% loans.

Don’t forget that Teachers get a discounted rate for Transfer tax and officers are exempt.

ALERT!!! NSP FUNDING DEPLETION FEBRUARY 17, 2010

2010-02-18T13:23:00.001-08:00

ALERT!!! NSP FUNDING DEPLETION FEBRUARY 17, 2010

Due to the unprecedented demand for down payment and closing costs assistance through the Prince George’s County Neighborhood Stabilization Program,

ALL AVAILABLE FUNDING FOR HOUSEHOLDS WITH INCOME ABOVE 50% OF THE AREA MEDIAN HAS BEEN DEPLETED AS OF CLOSE OF BUSINESS

FEBRUARY 17, 2010, PRIOR TO THE FEBRUARY 19, 2010 APPLICATION DEADLINE.

Completed applications received on February 18-19, 2010, for households with income above 50% of the area median, will be placed on a waiting list. Please note that placement on a waiting list will not guarantee funding.

FOR HOUSEHOLDS OUTLINED BELOW, WITH INCOME AT OR BELOW 50% OF THE AREA MEDIAN, NSP will continue to accept applications until funding reserved for this population is depleted.

Income Levels
1-Person Household 2-Persons Household 3-Persons Household 4-Persons Household 5-Persons Household 6-Persons Household 7-Persons Household 8-Persons Household
Very Low Income 50% $35,950 $41,100 $46,200 $51,350 $55,450 $59,550 $63,650 $67,800

Bowie Mortgage Assistance

2010-01-29T10:07:00.000-08:00

Bowie Mortgage Assistance
City of Bowie
www.cityofbowie.org/grants
http://pgcar.com/pghome_homebuying/docs/Bowie-Mortgage-Assistance.pdf

Program Overview

Bowie Mortgage Assistance is a program offering up to $2,000 in closing costs when purchasing a primary residence within the incorporated limits of the City of Bowie. City of Bowie

Individual Home Buyer Consultation

2010-01-13T06:43:00.000-08:00

We provide individual home buyer consultation in the following cities:
Largo, MD
Rockville, MD

If I do not qualify for a down payment assistance program; there are several ways to purchase a home with limited funds. A consultant will advise you on the multitude of options.

email info@thefreedownpayment.com

Next Class

2010-01-08T07:15:00.000-08:00

You Must register on the website to attend:
http://thefreedownpayment.com/class_registration.html

Location:
United Communites Against Poverty (UCAP)
1400 Doewood Lane
Capitol Heights, MD 20743

Date: Saturday, January 9, 2010

Registration Begins: 8:30am

Class Time: 9:00am and 6:00pm

Fee: $25.00 per couple (Cash or M/O only)

Next Class

2009-12-08T13:56:00.000-08:00

Location:
United Communites Against Poverty (UCAP)
1400 Doewood Lane
Capitol Heights, MD 20743

Date: Saturday, December 12, 2009

Registration Begins: 8:30am

Class Time: 9:00am and 6:00pm

Fee: $25.00 per couple (Cash or M/O only)

TheFreeDownPayment.com News

2009-11-08T06:19:00.000-08:00

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