Home Buying Program a
|
Home Buying Program a "Dream"
WASHINGTON - Alicia Thompson spent the Sunday afternoon going to open houses.
"It's my first house, you know. I have a little girl. Get her her own room, get a garage."
Thompson wants to spend about $280,000. If she buys a foreclosed house in Prince George's County, the county government will give her roughly $19,000.
"I don't know how it gets any better than that," says Don Frederick of RE/MAX United Real Estate in Upper Marlboro.
Frederick says the program it's called the "Down Payment on Your Dream" program. Qualified buyers must buy a foreclosed home and use $1,000-2,000 of their own money. In return, they get up to $20,000 that they never have to pay back if they live in the house for ten years.
Frederick says it's essentially a free down payment on a house. When coupled with the Federal government's $8,000 tax credit and special loans tailored just for people buying foreclosed homes, Frederick says it's the best deal he's seen in his 34 year career.
