$20,000 in down payment assistance for individuals employed in College Park.
Founded in 1997, the College Park City-University Partnership is a nonprofit local development corporation funded jointly by the City of College Park and the University of Maryland. Our mission is to promote and support the economic welfare of College Park and the university. We achieve this through various activities, including commercial revitalization, community development, and creating quality housing opportunities that align with the interests of both the City of College Park and the University of Maryland.
The College Park City-University Partnership Live+Work Program aims to increase the number of people living close to their workplaces, as outlined in the University-Community Vision 2030. This program offers $20,000 in down payment or closing cost assistance to anyone employed in the City of College Park or the Discovery District who purchases a home anywhere in College Park. Assistance is structured as a 7-year, zero-interest, forgivable loan designed with the homebuyer in mind. With just a few simple steps, employees in the City of College Park can take advantage of this program to buy a home within city limits.
If you are employed in College Park, Maryland, you may be eligible to participate in the Live + Work Program.
Eligible applicants must be:
18 years of age or older
Employed by an employer in the city of College Park
Purchaser of a home in College Park for use as a primary residence
Not already owning a home in College Park
Using loan funds only for down payment and/or closing costs
Agreeing to follow program instructions and abide by all provisions of the loan
The Partnership designed the program with homebuyers in mind. By following a few simple steps, residents employed by the City of College Park can access the program to purchase a home within city limits.
Step 1
Download Program Guidelines & Application to determine eligibility.
The Live+Work Program by the Partnership aims to encourage more people to live close to their workplaces, as outlined in the University Community Vision. This program offers anyone employed in the City of College Park a grant of $20,000 to assist with down payment or closing costs for purchasing a home anywhere in College Park.
Application checklist:
Signed verification of employment
A ratified contract of sale executed by both parties
A copy of the signed mortgage loan application from the lender
A copy of the appraisal from your lender
$100 loan origination fee (Click here to make payment)
FAQ’s
You have questions—we have answers. Take a look at some frequently asked questions below.
How much money is available through the Live+Work Program, and how is it structured?
The award for this program is $20,000. These funds are a zero-interest, seven-year forgivable loan as long as all requirements are met. These funds may be combined with other homeownership programs and grants.
What can the Live+Work Program loan be used for?
Loans may be used only for the down payment and closing costs in connection with a home purchase within the city limits of College Park. See Map.
Are UMD employees eligible for the program?
Yes! Employees of the University of Maryland at College Park are eligible to apply for Live + Work College Park.
Can I use this loan in conjunction with any loans or other homeownership programs?
Yes. Please review the list of options available to you following the application. Please check with your lender regarding using an FHA loan with this program.
How long will the loan program be available?
Loans will be distributed pending the availability of funds on a first-come, first-served basis. The program may be discontinued at any time.
What are the requirements to be eligible for the loan?
The homebuyer (or spouse) must be employed within the city limits of College Park or in the Discovery District. The homebuyer will not be considered if they already own a home in College Park. The home being purchased must be within the city limits of College Park. The Partnership will not discriminate against any applicant on the basis of age, race, color, creed, pregnancy, religion, national origin, ancestry, disability, marital status, sex, sexual orientation, gender identity, physical characteristics, or any other unlawful basis of discrimination. A mortgage loan approval must be obtained, and a formal loan agreement must be reached with the Partnership. Please review the “loan provisions” section for more information about the loan.
How can I reserve and receive a loan?
A completed application must be submitted at least three weeks prior to settlement. Once received, funds will be reserved for the homebuyer, and a final review of the documents will be conducted. So long as everything is in order, a formal loan agreement will be signed by the homebuyer. The Partnership will then provide the promissory note and deed of trust and transfer funds to the settlement company for the full amount of the loan.
Are there any fees associated with the Homeownership program?
Yes, the Partnership will charge a $100 loan origination fee to be paid by home buyers at the point of loan approval.
If you have any questions, feel free to reach out to us through our contact form or David Varnado, Senior Program & Operations Manager ([email protected]).
Contact Form
Please complete the form below with your questions, and a member of our Partnership team will reach out to you within two business days. Please note that funding is available until the end of the 2025 calendar year.
