American Dream Downpayment Initiative (ADDI) Program
for Prince George's County Homebuyers
WHAT IS ADDI?
The American Dream Downpayment Initiative ("ADDI") provides downpayment and closing cost assistance to families earning up to 80% of the area median income who are first-time homebuyers (or have not owned a home in the last 3 years) for the purchase of single-family housing that will serve as the family's principal residence. The ADDI program is a 5-year forgivable loan at 0% interest of up to $10,000 for downpayment and/or closing costs. Most will not exceed $5,000.
Prince George's County Department of Housing and Community Development administers the program, and Housing Initiative Partnership (HIP) or Kairos can assist homebuyers with their applications. Many first-time homebuyers are unable to save enough money to pay downpayment and closing costs and as a result, this is one of the most significant obstacles to homeownership among low-income families. The purpose of ADDI is to provide funding targeted for families to be used for downpayment and closing cost assistance to remove this obstacle. Additional downpayment/closing cost grants are available. Ask HIP or Kairos which may apply to you.
To get started, or get more information on the program, you will need to contact one of the ADDI providers listed below:
Kairos - (301) 899-8487
Housing Initiative Partnership - (301) 699-5875
For more details and an application, click here >
For an information flyer, click here >