FAQs • Prince George's County, MD • CivicEngage

Where do I get an application for the Down Payment on Your Dream Program?: Applications for the program must be submitted through a Participating Lender listed. You must have a sale contract on a vacant foreclosure before you can complete an application with a Participating Lender. You must also complete a minimum 8-hour housing counseling course provided by a HUD certified housing counseling agency. Do not contact the Department of Housing and Community Development for an application. Participating Lenders

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Redevelopment Authority

1. Can I use the Down Payment on Your Dream Program to buy any house?: No. The Down Payment on Your Dream program can only be used to purchase a vacant foreclosed property in one of the 33 eligible zip codes.

2. Can I use the Down Payment on Your Dream Program to buy a second house or one that is more affordable?: No. The Down Payment on Your Dream Program is for income qualified first-time home-buyers only or individuals who have not owned a home anywhere during the previous 3 years.

3. How do I find out if my income qualifies?: Refer to the Income Limit Chart. Remember that in addition to the applicant and co-applicant’s annual income, the income of all members of the household over 18 must be counted in the household income calculation.

4. If I use the Down Payment on Your Dream Program, does this mean that I can buy a house without any money of my own?: No. There is a minimum required cash contribution of up to $2,000, depending on applicant (s) income. See Program Guidelines. Minimum cash contribution includes earnest money deposit and payments for application, appraisals and other fees necessary for the transaction.

5. Where do I get an application for the Down Payment on Your Dream Program?: Applications for the program must be submitted through a Participating Lender listed. You must have a sale contract on a vacant foreclosure before you can complete an application with a Participating Lender. You must also complete a minimum 8-hour housing counseling course provided by a HUD certified housing counseling agency. Do not contact the Department of Housing and Community Development for an application. Participating Lenders

6. How does a lender become a participating lender?: Attend a Participating Lender briefing and complete Participating Lender Agreement and FDIC Certification on Subprime Lending located at the Lenders Only Resource.

7. Can I use the Down Payment on Your Dream Program with other down payment and closing costs assistance programs?: You cannot use the program with ADDI or House Keys 4 Less. Note that no extra cash will be given back at settlement. Excess funds will be used for curtailment or reduction of the first mortgage. Seek advice from your Participating Lender concerning the necessity of using another down payment and closing costs assistance program.

8. Can I use the Down Payment on Your Dream Program with a Section 8 Homeownership Voucher?: Yes. The Section 8 Home-Ownership Voucher may be used with the Down Payment on Your Dream Program. Contact a Participating Lender.

9. How do I find a vacant foreclosed property?: Contact your neighborhood real estate agent or Association of Realtors Online Resource

10. My real estate agent has found a property that is a “short sale”; can I use the Down Payment on Your Dream Program for this purchase?: No. Short sales are not eligible. Property must have been foreclosed upon.

11. How do I know how much house I can afford?: Take a housing counseling course and contact a Participating Lender to get pre-approved. For a list of Participating Lenders and Housing Counseling Agencies contact See the First Time Home Buyers Resource.

12. I have taken a housing counseling course before; can I use the same certificate to qualify for the Down Payment on Your Dream Program?: You can use the certificate if the course you took was a minimum of 8-hours and course was completed within the last 6 months and if the course was provided by a HUD approved housing counseling agency. Online courses are ineligible.

13. Can I use the Down Payment on Your Dream Program to purchase a home if I have had a home that was foreclosed upon?: You are eligible for the Down Payment on Your Dream Program if you have not owned a home anywhere during the previous 3 years. If your home was foreclosed upon more than 3 years ago and you can qualify for a first mortgage you are eligible to apply for Down Payment on Your Dream assistance.

14. Can a parent or relative co-sign for an individual who is a first-time home-buyer?: In order to co-sign, a parent or relative must be a first-time home-buyer or cannot have owned a home anywhere during the previous 3 years and parent or relative must maintain the home to be purchased as a primary residence for a 10-year period.

15. Can I use the Down Payment on Your Dream Program to catch up with my mortgage payments?: No. The Down Payment on Your Dream Program is for purchases of vacant and foreclosed property only.

16. Can I use the Down Payment on Your Dream Program to pay closing costs to refinance my existing home?: No. The Down Payment on Your Dream Program cannot be used for closing costs to refinance an existing home.

17. I own a home in another state; can I still qualify for the program?: No. Only first time home-buyers or individuals who have not owned a home anywhere are eligible.