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Applications for the program must be submitted through a Participating Lender listed at www.princegeorgescountymd.gov/dream. You must have a sale contract on a vacant foreclosed property 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. - Follow these steps if you are interested in the Downpayment on Your Dream Program:
- 1. Contact a Downpayment on Your Dream Participating Lender to get pre-approved for a mortgage.
- 2. Attend an 8-hour housing counseling course provided by a HUD Certified Housing Counseling Agency. Download a list of HUD approved counseling agencies.
- 3. Contact your real estate agent to identify vacant foreclosed properties in eligible areas.
- 4. Work with a real estate agent to place a contract on a vacant foreclosed property you can afford and for which you can be pre-approved.
- 5. Return to Participating Lender with sale contract and apply for mortgage and "Down Payment of Your Dream" loan.
- 6. Work with lender and real estate agent to complete loan package, underwriting and address issues necessary to receive approval for first mortgage and "Down Payment of Your Dream" loan.
- 7. Settle on your Dream Home!!!!
GETTING STARTED
