§ 10-299. Down payment and Closing Cost Assistance - Application, Requirements and Approval.

(a)

Application. An applicant for down payment and closing cost assistance shall apply for the program on an application form required by the Director of the Department of Housing and Community Development, or his designee.

(b)

Application Information Required. The down payment and closing cost assistance application form shall require an applicant to supply information necessary to evaluate the requested financial assistance including:

(1)

financial need and income of the applicant up to 120% of the area median income in the Washington, D.C. region;

(2)

financial ability of applicant to retain or purchase all for sale properties in Prince George's County including: vacant, abandoned and foreclosed properties in the targeted areas of the County;

(3)

documentation that the applicant has completed housing counseling service, training or classes; and

(4)

any other information that may be appropriate or useful in evaluating the application.

(c)

Review and approval by the Director. The Director or his designee shall review down payment and closing cost assistance applications for completeness, need, financial ability of the applicant and such other eligibility criteria established under this Division.

(CB-21-2012; CB-57-2017)