Maryland National Stablization Program

Joyce Alston — Tue, 25 Aug 2009 18:17:00 GMT

NSP UPDATE

DOWN PAYMENT ASSISTANCE — GOING STRONG!
$$ MILLIONS STILL AVAILABLE IN ASSISTANCE MONEY FOR FIRST TIME BUYERS $$

Representatives of the Prince George's County Department of Housing and Community Development recently updated REALTORS^® on the status of the County's NSP program entitled "Down Payment on Your Dream."

It was reported that approximately ten properties have settled under the program since its inception on July 1^st and another forty are in the pipeline. DHCD has hired experienced underwriters, processors and title people who are specifically dedicated to closing NSP transactions. As such they are pleased to announce that they are often times closing these transactions in less than ten days. There is still $9 million in reserves dedicated for the program. This adds up to approximately 700 down payment assistance loans (scroll down for complete program details).

"Down Payment on Your Dream" is compatible with FHA, VA, and Conventional mortgages as well as 203K programs. Other programs such as CDA, Housekeys 4Employess, and Smartkeys are also eligible.

The County is doing a great job of promoting the program to the public via radio and print advertising. The program has received a lot of positive reports in the local press including the Gazette, Prince George's Post, and Sentinel as well as all major television stations including WUSA Channel 9, WRC Channel 4 and WJLA Channel 7. In fact, PGCAR Past President, Don Frederick recently spoke to Fox 5 News about the advantages of the program for first time buyers.

Please e-mail or call me at (202) 415-5754 to learn about this program.