- Downpayment & Closing Cost Assistance
- Prince George's County
Summary
The City of Greenbelt offers a Homebuyer Assistance Program that provides grants to assist residents with down payment and/or closing costs for purchasing their first home in Greenbelt (zip code 20770). The program is administered and managed by the Maryland Department of Housing and Community Development (DHCD) and includes a grant of up to $15,000 to pay for down payment and/or closing costs. The Greenbelt Home Advantage program includes an outright grant of $15,000 to be used towards down payment and/or closing costs and is offered in partnership with the Maryland Department of Housing and Community Development. The City of Greenbelt also offers financial support to Greenbelt residents who are first-time homebuyers through grants, not loans, with no repayment required.
Eligibility Requirements
- The applicant(s) must be a first-time homebuyer, which is defined as someone who has not owned a home in the past three years.
- The applicant(s) must meet the income requirements, which vary based on household size and the type of property being purchased. As of May 2023, the maximum income for a household of one is $75,200, while the maximum income for a household of four is $107,400.
- The applicant(s) must contribute at least 1% of the purchase price of the home as a down payment.
- The applicant(s) must complete a homebuyer education course prior to closing on the home.
- The home being purchased must be located in Greenbelt.
- The purchase price of the home must be within the program's maximum purchase price limit, which is currently $455,000.
- The applicant(s) must obtain financing through an approved lender.
- The applicant(s) must occupy the home as their primary residence.
- It's important to note that funding for the program is limited and subject to availability. Interested applicants should contact the City of Greenbelt's Housing and Community Development Department for more information.
Contact Information
City of Greenbelt Department of Community Development
25 Crescent Road
Greenbelt, MD 20770
Phone: 301-474-8000
Email: community.development@greenbeltmd.gov