Learn about the opportunities to couple this initiative with other assistance programs like the Maryland Mortgage Program and the City’s New Neighbor Grant Program, and opportunities for new homebuyers to get to know local amenities like the world renowned College Park Tennis Club, and OpenBarre Studios.
The Maryland Mortgage Program. Provides a $5,000 zero interest loan, which is only repaid upon sale or transfer of the property or if the first mortgage is refinanced or paid in full. This loan does not accrue interest over time. Additionally, borrowers can get a Maryland HomeCredit – a tax credit up to $2,000 – on federal taxes every year for the life of a mortgage. The Maryland Mortgage program applies only to first-time homebuyers or those who have not owned a house in 3 years. This program assists qualified buyers who meet the income limitations – see website at http://mmp.maryland.gov/Lenders/Pages/Income-and-Purchase-Limits.aspx.
CPCUP/Maryland Mortgage Program partnership. The Partnership has partnered with MMP to provide additional down payment assistance, up to $2,500, as part of the MMP community partner match.
The City of College Park New Neighbor Home Ownership Grant Program. The City of College Park New Neighbors Homeownership Program is designed to increase the number of owner-occupied homes in the community. On a first-come, first-served basis, eligible buyers or buyers of eligible homes may receive a grant of either $5,000 or $10,000 in down payment or closing cost assistance depending on elibitility. Funds are provided at settlement and grant funds may be combined with other federal, state, and local homeownership assistance programs. Applicants must agree to live in the property as their primary residence for a minimum of 5 years. This Program can be coupled with the Partnership’s Homeownership Program and streamlined through our Program. Learn More and See homes that are eligible HERE.
$5,000 grant to buy ANY home if you:
• Are a current resident of the City.
• Work full-time for an employer located in the City.
• Are a full-time graduate student at the University of Maryland College Park.
• Are a local police officer, firefighter or EMT.
$10,000 grant to buy a home that:
• Has been a rental property for at least the previous two years.
• Has been newly constructed, is in foreclosure or is a short sale.
• Is located in a neighborhood that has fifty percent (50%) or more rental properties as
determined by the City.
Junior Tennis Champions Center (JTCC). JTCC is offering a 3-week membership to their Discover Tennis program; 6 lessons over three weeks, racquets while you learn, free practice time, and an end of session party! Registration is $59 and you can bring a friend for free!
OpenBarre Studios. OpenBarre Studios offers home buyers one month of unlimited classes per adult on the title. The month should be started within 90 days of the sale date. Try a variety of classes including but not limited to $5 Happy Hour Barre, Arms & Abs, Barre Stretch, Date Night Barre, Mom Strength, Barre Cardio Circuit, and many more! This membership is valued at $99.
Blue Note Title. Blue Note Title, Inc. offers participants in the Homeownership Program a $500.00 discount on settlement and title services (with the purchase of Owner’s Title Insurance). Military, teacher, and other discounts may also apply. Spanish-speaking settlements are available. Please contact Jessica Chipoco, Esq. at 240-670-8993 or firstname.lastname@example.org for more information.
Capitol Title. Capitol Title is offering participants in the Homeownership Program a $500.00 closing cost credit off Settlement Fees if they settle with Capitol Title and purchase an Owner’s Title Insurance Policy. For more details on the services and products that Capitol Title provides please contact Sara Demb Goldstein at SDemb@capitoltitle.com.
McKay Mortgage Company. The McKay Mortgage Company is offering participants in the Homeownership Program a free home appraisal, free pre-approval and free credit analysis. Please contact Brendan McKay at email@example.com.
Prosperity Home Mortgage LLC. Prosperity Home Mortgage LLC is offering eligible borrowers a $1500-$2500 credit towards down payments and/or closing costs through their BorrowSmart program. Click here to learn more.
Berkshire Hathaway Home Services PenFed Realty. Berkshire Hathaway Home Services PenFed Realty is offering a free one year home warranty to buyers if they purchase with Karyn Keating. For more details on the services provided contact Karyn at firstname.lastname@example.org or 410-320-7301.