Check Your Eligibility for the Prince George’s County $50,000 Pathway to Purchase Homebuyer Grant
Qualified buyers may receive up to $50,000 in down payment and closing cost assistance when purchasing a home in Prince George’s County, Maryland through the Pathway to Purchase Program.
Complete the short eligibility review below to see if you may qualify for this Prince George’s County first-time homebuyer assistance program.
Your eligibility review is handled directly by licensed Maryland Loan Officers experienced with Prince George’s County down payment assistance programs.
Up to $50,000 Down Payment Assistance
Cash Required at Closing May Be $0
Local Maryland Mortgage Broker
Full FHA and Conventional Loan Eligibility Review
Millennial Home Loans – NMLS #1221523
David at Millennial Home Loans made the daunting task of buying a home as easy as possible for us. He and the entire staff at Millennial were always quick to respond to any questions. When we had some hurdles to jump to receive our loan they walked us through every step needed and we managed to get exactly the home we wanted. Thank you David and the entire Millennial Home Loan team!! Use Millennial and you won’t be disappointed.”
Lesley Faris
PATHWAY TO PURCHASE – $50,000 GRANT TO OFFSET REQUIRED DOWN PAYMENT AND CLOSING COST ON YOUR UPCOMING PURCHASE IN PRINCE GEORGE’S COUNTY MARYLAND
What Is the Prince George’s County Pathway to Purchase Program?
The Prince George’s County Pathway to Purchase Program helps eligible first-time home buyers purchase a home, with a purchase price up to $448,000 for existing construction and $485,000 for new home construction, by providing up to $50,000 in assistance that can be used toward the down payment and closing costs.
0% Interest – No Monthly Payment
The assistance is structured as a deferred second mortgage with 0% interest, meaning there are no monthly payments required on the assistance loan.
Forgivable After 10 Years
If the home remains the borrower’s primary residence for 10 years, the Pathway to Purchase assistance may be fully forgiven.
Prorated Repayment If You Sell Early
If the property is sold, transferred, cash-out refinanced, or converted to an investment property during the 10-year period, only a declining prorated portion of the assistance must be repaid.
Works With FHA and Conventional Loans
The Pathway to Purchase program can be combined with a 30-year fixed-rate FHA or conventional mortgage loan obtained through an approved participating lender such as Millennial Home Loans.
Do You Qualify for the Prince George’s County $50,000 Homebuyer Grant?
To qualify for the Pathway to Purchase Program, home buyers must meet several eligibility requirements.
Borrowers must first obtain preliminary approval for their first mortgage loan through a participating lender and complete a HUD-approved 8-hour homebuyer education course. Household income must also fall within the program limits.
Income Limits
Total household income cannot exceed 80% of the Area Median Income (AMI) for Prince George’s County.
Additional Requirements
• Property must be located in Prince George’s County, Maryland
• Borrower must be a first-time homebuyer
• Home must be used as the primary residence
• Property must pass a Housing Quality Standards (HQS) inspection
• Borrower must qualify for a FHA or conventional mortgage loan
If approved, the assistance funds are provided at settlement to help cover the buyer’s upfront costs, making homeownership more affordable. The grant requires no monthly payments and is fully forgiven after 10 years as long as the home remains the borrower’s primary residence and program requirements are met.
THE PRINCE GEORGE’S COUNTY PATHWAY TO PURCHASE PROGRAM FEATURES
Down Payment Assistance
The program provides 3% to 5% of the home purchase price for the down payment.
Closing Cost Assistance
Based on the loan program, buyers may also receive funds to help cover closing costs, escrows, and other upfront purchase expenses.
Credit Scores As Low As 580
Eligible buyers may qualify with:
• 580 credit score on FHA loans
• 620 credit score on conventional loans
Competitive Mortgage Rates
As an independent mortgage broker, Millennial Home Loans compares multiple wholesale lenders to help secure competitive interest rates and loan terms.
Refinance Flexibility
In many cases the Pathway to Purchase assistance may remain in second lien position when refinancing for a lower interest rate.
Forgivable After 10 Years
The assistance loan may be completely forgiven after ten years if the borrower continues to occupy the property as their primary residence.
APPROVAL PROCESS SECTION
Pathway to Purchase Approval Process
The process begins with the homebuyer obtaining initial approval for their first mortgage loan through a participating lender, such as Millennial Home Loans. This preliminary approval confirms the borrower qualifies for the primary mortgage financing that will be used together with the Pathway to Purchase assistance.
Next, the homebuyer must complete several Pathway to Purchase program requirements, including attending a HUD-approved 8-hour homebuyer education course, entering into a purchase contract for a home located in Prince George’s County, and ensuring the property passes the required Housing Quality Standards (HQS) inspection. The home appraisal is also ordered to confirm the property value and eligibility.
Once these requirements are satisfied, the lender proceeds with the full underwriting review of the first trust mortgage loan. If the borrower meets the lender’s guidelines, the loan receives conditional approval from the lender, subject to the final approval of the Pathway to Purchase assistance.
The lender then submits the Pathway to Purchase loan package to Prince George’s County for review, provided there are sufficient days remaining on the purchase contract. The County reviews the file for program eligibility and compliance, and once the Pathway to Purchase grant receives final approval, settlement is scheduled and both the first mortgage and assistance funds are provided at closing.
Why Does Prince George’s County Maryland Offer the Pathway to Purchase Program
Prince George’s County offers the Pathway to Purchase Program to expand homeownership opportunities and strengthen neighborhoods by helping first-time buyers overcome one of the biggest barriers to purchasing a home—the upfront cost. By providing assistance for down payments and closing costs, the program encourages long-term homeownership, promotes neighborhood stability, and helps more residents build equity while living in Prince George’s County.
Millennial Home Loans LLC (NMLS #1221523) is a local Maryland licensed Mortgage Broker that specializes in Low-To-No Money Down Loan Programs.
Millennial Home Loans, LLC and Pathway-To-Purchase.com is not a government agency. You can view our privacy policy here Privacy Policy and our Terms and Use policy here Terms and Use. Feel free to contact as with any questions here Contact Us.
To apply for a FHA or Conventional Loan simply fill out a quick loan application or call us to apply over the phone at (410) 567-0994.
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