First Time Home Buyer Program*

*For Prince George’s County Only

American Dream Down Payment Initiative (ADDI)

ADDI provides down payment and closing cost assistance to low-income families who are first-time homebuyers for the purchase of single-family housing that will serve as the family’s principal residence. ADDI provides funding to targeted low-income families. In order to be eligible for ADDI assistance an applicant must:

  • Be a “first-time homebuyer”;
  • Contribute a minimum of $1,000 toward the purchase of the home;
  • Be a “low-income family”;
  • Use the house as their principal residence;
  • Successfully complete a HUD approved homebuyer counseling course; and
  • Qualify for a first mortgage.

If you have questions about this program, give Dick Harbin a call at Monarch Mortgage. (301) 850-1092. His email is dharbin at monarchmtg dot com.

Dick says the buyer will receive between $5,000 and $10,000 for down payment assistance – just be aware that income limits do apply. However, I’m always surprised at how high those limits can be, so do check with Dick.

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