2013 HAND Housing Achievement Awards BEST GOVERNMENT HOUSING INITIATIVE My HOME Program, Prince George’s County Department of Housing and Community Development
On March 7, 2011, the Prince George’s County Department of Housing and Community Development (DHCD) launched the My HOME program for first time homebuyers. This exciting program uses funding provided by the federal HOME Investment Partnership Program (HOME) to provide homeownership assistance to low and moderate income buyers to purchase residential properties anywhere in Prince George’s County, MD. In order to minimize the likelihood that the home will subsequently go into default or foreclosure, the My HOME program also has underwriting standards regarding maximum monthly debt burden, refinancing, and a prohibition for adjustable rates and balloon payment mortgages. The My HOME Program is implemented in partnership with over 50 participating lenders, the Prince George’s County Association of Realtors and HUD certified housing counseling agencies. Congratulations to the My HOME Program!