New Neighbor Homeownership Grant
The City of College Park's New Neighbor Homeownership Grant Program is designed to increase the number of owner-occupied homes in the community. On a first-come, first served basis, buyers of eligible homes receive $5,000 in down payment or closing cost assistance. Funds are provided at settlement for use toward the purchase of the home and these funds may be combined with other federal, state, and local homeownership assistance programs. Applicants must agree to live in the property as their primary residence for a minimum of 5 years.
The program’s intent is two-fold:
- To encourage home ownership through the conversion of previously rented single-family homes, short sales, foreclosed homes and condominiums to owner-occupied status. Also, anyone purchasing a newly constructed single family home within the City of College Park is eligible for the grant; and
- To assist certified police officers, city employees, University of Maryland employees, career and volunteer firefighters and emergency technicians to become homeowners.