HIP Homes Single-Family Homeownership Program

What is HIP Homes Single-Family Homeownership Program?

HIP Homes Single-Family Homeownership Program is a first mortgage for homebuyers in Prince George's County, Maryland, administered by Housing Initiative Partnership, Inc. (HIP).

• Housing Initiative Partnership (HIP) buys and substantially rehabilitates vacant single-family homes and builds new construction in older inner-beltway Prince George's County neighborhoods, then sells these HIP Homes to first-time Maryland homebuyers earning 80% or less of AMI. Homes are practically new when completed, with all major systems replaced and green building features. Buyers must complete HIP HUD-certified homebuyer education and qualify for conventional or government-backed financing.
• Substantially renovated or newly constructed home.
• All major systems replaced.
• New kitchen, bathrooms, appliances.
• Energy- and water-efficient green construction.
• Homebuyer education and counseling support.

Do you have to pay it back?

HIP Homes Single-Family Homeownership Program is a first mortgage and is repaid under the terms set by Housing Initiative Partnership, Inc. (HIP).

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HIP Homes Single-Family Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

HIP Homes Single-Family Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

• Households must earn 80% or less of AMI based on household size. 4-person limit $131,000 (effective June 1, 2025).
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

HIP Homes Single-Family Homeownership Program can be used for Single Family and Townhouse.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

HIP Homes Single-Family Homeownership Program serves buyers purchasing in Prince George's County, Maryland.

• The program targets specific areas: Older inner-beltway neighborhoods in Prince George's County, MD (e.g., Palmer Park, Fairmount Heights).
• Targeted neighborhoods: Palmer Park, Fairmount Heights, and other inner-beltway Prince George's County neighborhoods.

How do you apply?

Applications for HIP Homes Single-Family Homeownership Program go through Housing Initiative Partnership, Inc. (HIP), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HIP HUD-Certified Homebuyer Education Program (workshop and one-on-one counseling).

2. 2

   Contact Housing Initiative Partnership, Inc. (HIP) to reserve funds

   Funds are reserved through Interest list; first-come first-served pending availability, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.