MY HOME and MY HOME II
The Prince George’s County Department of Housing and Community Development recently launched the “My Home” homeownership assistance program. Using the program, income-eligible first-time homebuyers can receive a deferred payment loan of up to 5% of the home’s purchase price for down payment and closing costs assistant. For more information, please refer to the Redevelopment Authority’s website and the FAQ pages.
The Home Owners Preserving Equity program, run by the State of Maryland, offers foreclosure prevention resources. For more information, visit their website.
State Department of Housing & Community Development
The Maryland State DHCD provides multiple resources for those looking to purchase a home, to improve an existing residence, and Single Family Mortgage Insurance.
Homeowner Property Tax Credit
The City of Hyattsville's Homeowner Property Tax Credit program, created in 2008, mirrors the State of Maryland's Program, but with a few changes on eligibility. The requirements for the State's program are (1.) Total combined household Income of $60,000 or less, (2.) Other assets that contribute to your net worth such as cash values in IRA and/or qualified retirement savings related programs cannot exceed $200,000 and, (3.) Assessed home values of $300,000 or less. In contrast, the City's program allows household income of $80,000 annually; assets of less than $200,000, not including house value and qualified retirement accounts; and assessed home values of up to $350,000. The City supplement is set at 15% of the State credit.
The 2017 filing deadline for this program has been extended to Sept. 15. To access the application, please:
Go to State of Maryland website link below: http://dat.maryland.gov/Pages/Tax-Credit-Programs.aspx
- Click "Tax Credit Programs"
- Click "What is Homeowners Property Tax Credit Program"
- Click "Homeowners Property Tax Credit Program Application" and then print.
- Print and follow the instructions to fill out application and to file.
- If you have question please call 410-767-4433 or 800-944-7403