The gift of homeownership.
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About the Grant
Nominees must be at least 18 years of age, and not currently own a home.
The grant funds are for all closing costs of a home purchase, including down payment, transfer and recordation fees and title insurance costs, in conjunction with the typical loan standards of the Maryland Mortgage Program.
We will announce the recipient near Thanksgiving 2021.
A panel of five community members will meet to select a grant recipient.
The purpose of the grant is to provide an opportunity for a deserving member of our community to obtain financial freedom by paving the way for home ownership. The panel will be looking for a nominee who’s story and character traits are exemplary in nature, and whom will benefit the most by obtaining homeownership.
In simple terms, the grant is the opportunity for a nominated individual to go from paying rent, to paying a mortgage, with all closing costs covered.
The grant subsidy will cover the entire down payment and closing costs for the grant recipient.
There are many unsung heroes within our communities. Many of whom are stuck paying rent with very little options of getting a break in life. This grant hopes to raise up those hard working residents and give them the start to obtain financial freedom through home ownership.
This grant is privately funded by Will Stein.
The grant recipient has twelve months from the announcement to purchase a home.
Must be located within Maryland.
Must become the primary residence of the grant recipient.
Have a maximum purchase price of $600,000.
Any residence in Maryland which you intend to make your primary residence.
The income limits are as indicated by the Maryland Mortgage Program, currently $140,640 – $164,080 depending on household size.
Complete an eight hour housing counseling class provided by the Prince George’s County Housing Authority.
Show that they are eligible to be able to secure a mortgage for a home within twelve months of award.
No, you may not nominate yourself however you can ask a friend or family to submit a nomination on your behalf.
Only individuals may be nominated for this grant, groups and non-profits are not eligible.
No, the grant must be used to purchase a home which the grant recipient intends to occupy as their primary residence.
Yes, one person can nominate any number of candidates.
Nominations can be submitted via this link: Nominate
If you wish to mail, please write to:
Will Stein Homeownership Grant
1 Park Place
Annapolis, MD 21401
Dishonesty or providing false or inaccurate information.
Failure to successfully execute on the purchase of a home within the period of twelve months after award.
Not being able to obtain a pre-approval showing that they would be able to take advantage of the grant funds.
Grant recipient will be receiving funds and will be required to report to the IRS in accordance with any federal laws.
Any questions can be emailed to firstname.lastname@example.org, or you may call (202) 888-3938.
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