First Time Home Buyer

PG County Maryland

First Time Home Buyer PG County Benefits:

  • Starting at 3% Down Payment
  • FICO Starting at 550
  • 21 Day Closing
  • Real Estate Agents Welcome!
  • Prequalify in just 15 minutes

#1 For Home Mortgage Loans PG County

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PG County First-time home buyers in Maryland offers special programs for residents of Prince George’s County Maryland. Do you have your eye on a house in Kettering Maryland, Fort Washington, Mitchellville or are you a first time home buyer in Bowie Maryland?  First time home buyers have it easier than ever to purchase their dream home.  

Prince George’s Counties, first-time home buyers. Largest 27 Municipalities

commercial bridge loan

PC County first-time home buyer programs

The Maryland Mortgage Program along with PG County First Time Home Buyer Programs provides a number of loan programs as well as a few down payment assistance programs which makes purchasing your home easier. 

Qualify Here for current programs that are approved and backed by the federal government. that make purchasing your first home much less costly. PG County First Time Home Buyer programs help Maryland’s residence achieve the American Dream.

Best FHA, VA and First Time Home Buyer Lender in the US. with the best rates!

VA Loans

This is the best program for those currently serving and those that have served in our military armed forces. For first time home buyers that have served a VA loan is the best choice. 

 A Zero Down VA home loan. You can send your DD214 or Certificate of Eligibility and click here to fill out an application for your first time home buyer VA Loan.  To look up VA loan limits in Maryland Click below. 

Best First Time Home Buyer Rates in PG County. Qualify Here!




PG County First Time Home Buyer Programs Administered By Government Agencies like the Federal Housing Administration (FHA) VA Loans from the Veterans association , Freddie Mac and Fannie Mae offer low down payment and Zero Down loans that provide excellent options today with some of the lowest rates in years. 

multifamily home loan

First Time Home Buyer FHA Loans

The best mortgage rates and First Time Home Buyer Loans in PG County as well as the rest of the US  is the FHA Home Loan. The FHA,  Federal Housing Administration offers down payments for first time home buyers as low as 3.5% for those with credit scores of 580 or higher. 

Home Ready Fannie Mae offers a 3% down first time home buyer program as well. Due to the Covid19 Virus the minimum FICO score is currently a FICO of 620. The FHA insures your lender for scores even as low as 500 but does requires a  higher down payment. You can check current credit score and down payment requirements by calling 800-826-5077.

The FHA loan program does require Mortgage insurance as part of their loan for the life of the loan. To eliminate the insurance requirement you may want to refinance once your equity reaches 20% or more.

Maryland is a great place to live.  One of the best places for first time home buyers and families alike is Prince Georges county, MD. Prince George’s county also goes by the name PG county and borders the eastern portion of Washington DC.

In close proximity to Washington DC and the 2nd most populated county with government and private sector employment makes Maryland and PG County a  great area for first time home buyers looking for work or to settle down with their families.  There are excellent first time home buyer programs in PG County from Zero Down payment loans to 3% down HomeReady® loans. You will see some of the popular programs listed below.

HomeReady Mortgage Low down payment HomeReady® Home Loan 

HomeReady Mortgage confidently serves today’s low-income credit worthy home borrowers.

The HomeReady® loan is a low down payment home loan program that for offer 3% down. Credit scores however are higher than FHA with starting requirements for a FICO at 620  vs 580. 

Borrowers with credit scores of 580 or more can potentially receive better rates.  

Cash for down payment can come from multiple sources including grants, gifts and community seconds with no minimum requirement to use your personal funds.

The HomeReady® mortgage program requires you to take a quick class about home ownership. You can check  the education requirements for this program HERE.

PG County Maryland’s First Time Home Buyer Qualifying Questions Below!  We understand that the normally the home buying process may be complex.
 
We are here to help home buyers find the best loan programs and assistance that may be available.
Complete a few questions below to get started.

READY TO QUALIFY FOR YOUR FIRST TIME HOME BUYER 3.5% DOWN HOME LOAN. THE TIME COULDN’T BE BETTER!  CLICK BELOW TO QUALIFY!

PG County Mortgage Loan Programs

Conventional Loans: Conventional loans are traditional mortgage loans offered by private lenders and not insured or guaranteed by government entities. They typically require a 20% down payment but may accept lower down payments with private mortgage insurance (PMI).

FHA Loans (Federal Housing Administration): FHA loans are government-backed loans designed for first-time homebuyers with lower credit scores. They require a smaller down payment (3.5%) but come with mortgage insurance premiums.

HomeReady Home Loans start at 3% Down! APPLY NOW!

VA Loans (Department of Veterans Affairs): VA loans are available to eligible veterans, active-duty service members, and certain surviving spouses. These loans offer 100% financing and generally have competitive interest rates.

USDA Loans (United States Department of Agriculture): USDA loans are intended for rural and suburban homebuyers with low to moderate incomes. They provide 100% financing and often have lower interest rates.

Jumbo Loans: Jumbo loans are used for high-value properties that exceed conventional loan limits. They typically require larger down payments and have stricter credit requirements.

Fixed-Rate Mortgages: Fixed-rate mortgages have a constant interest rate over the loan term, providing predictable monthly payments. Common terms include 30, 20, or 15 years.

Adjustable-Rate Mortgages (ARMs): ARMs have interest rates that can fluctuate after an initial fixed period. They often start with lower rates but can increase over time based on market conditions.

nterest-Only Loans: Interest-only loans allow borrowers to pay only the interest for a specified period, typically 5 to 10 years. Afterward, payments increase to cover principal and interest.

Non-Qualified Mortgage (Non-QM) Loans: Non-QM loans are for borrowers who don’t meet conventional mortgage standards are self employed or do not have a w2 to possibly tax return to show income. Various types include:

Profit and Loss (P&L) Loans:  Suitable for self-employed individuals who may have fluctuating income. Closest thing to a no doc loan.

Statement Loans: Based on bank statements rather than tax returns, beneficial for those with non-traditional income documentation.

Foreign National Loans: Tailored for non-U.S. citizens or non-permanent residents.

Asset Depletion Loan: Uses assets like retirement savings, trust funds, treasuries, etc.,  to qualify you for a loan.

DSCR Loans: DSCR loan is typically used when purchasing under an LLC or company and can provide up to 85% LTV. The DSCR loan is based on the assets income and not focused primarily on the borrower. There is no borrower income or employment requirement.

Fix and Flip Loans: Fix and flip loans are short-term financing options for real estate investors purchasing, renovating, and reselling properties. These loans often have higher interest rates but shorter terms. The can close in as fast as 5 days and provide up to 90% LTV.

Prince George’s County poised for growth

PG county has a work force that is ranked among the best in the nation.  Boasting the#1 public school system in the US.. Additionally, world-class academic and research institutions and a very high end competitive business environment.  Maryland and PG county are an ideal place for companies to grow and thrive.

In Prince George’s County, those advantages are accentuated, due to the proximity to Washington, D.C. (but without the high cost); the University of Maryland College Park (Maryland’s flagship institution) and of course federal agencies that represent nearly every department of the U.S. government; as well, growing industries such as space exploration, aerospace, healthcare, life sciences and cybersecurity.

Prince Georges County Neighborhoods

First Time Home Buyer Low Down Payment Programs!

Fort Washington Maryland for first time home buyers is know to be perfect for both young professionals and retirees. Fort Washington boasts a rural feel with most residents here owning their own home. With great first time home buyer opportunities Fort Washington best mortgage rates can be found HERE! Other popular areas include West Laurel, University Park and Woodmore Maryland.

Maryland First Time Home Buyers have access to some of the lowest rates and terms that have been available in years. For First Time Home Buyers this is the opportunity to get out of a rental property and to start building wealth for their future and security.  

To Purchase, Refinance & Cash Out Refinance For First Time Home Buyers. Click Here to Qualify.

Expert Home Loan Mortgage Information
If you are a first time home buyer in PG County or the townships of Kettering or Bowie Maryland looking to refinance your home, cash out or purchase your first investment property the expert home loan blog below should help. If you are in need of a mortgage calculator Click Below.

mortgage loans f

PG Counties first time home buyers enjoy zero down and low down payment programs with some of the lowest interest rates in today’s market.

Bowie Maryland in Prince George’s county is the perfect town with lots to offer.

Bowie Maryland PG County offers a suburban feel where most residence own. In Bowie there are a lot of parks and open space. Many young professionals live in Bowie Maryland.  Bowie MD has a median home price of $326,000 with an average household income of $112,000. Bowie Maryland is ranked #3 in best places to live and raise a family in Prince Georges county. 

To qualify for the best mortgage rates in Prince Georges County, CLICK HERE! 

Other areas that boast some of the top places to bring up a family in Maryland are Kettering, Mitchellville Maryland, Hyattsville and Fort Washington..

 

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