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April Is National Fair Housing Month
Georgia home grants: There are thousands of free dollars waiting for you all across Georgia.
Here is where you can go to verify if you are eligible and where you can apply and how much would be available to you.
I am a real estate agent in the great state of Georgia and for those aspiring homeowners living in my home state; this page is my especial contribution to your own quest.
Here Is How It Works
Homeownership has been and continues to be an important part of our American way of life. Extending a little boost to those who want to achieve the dream of owning their home is a noble endeavor.
Georgia home grants are moneys that branches in various levels of government – as well as some private entities -- provide every year to prospective home buying people to help them with a down payment assistance (DPA) or, in some cases a significant part of the purchase price in the form of a 2nd mortgage.
To attain a Georgia home grant you would need to meet certain requisites, chiefly among them is that these programs target people of low and mid income.
…Those on higher income bracket have already been blessed.
I think that for now you may have already begun to understand that grants will not cover everyone. Besides for that, please be aware that grants are not available all the time [it lasts till the money runs out] and some are to be used in targeted areas.
Regardless weather or not you are pursuing any of the Georgia home grants or if you are reading this info in other states, there is a lot more you can learn by reading my page “Home Grants” - please click here
Each program will designate its own set of eligibility.
Here are some of the requisites [each Georgia home grants may vary]
I would say most of the Georgia home grants give special emphasis to first time homebuyers.
All grants are for primary residence – if you have another home, even if it is in another state, very likely that you will not qualify.
2nd mortgage deferred payment interest free – again, please see more info on my page “Home Grants”
Some Of The Georgia Home Grants And Down Payment Assistance DPAs.
Amongst the Georgia home grants there are several in the Atlanta area.
Here are some examples that come to mind:
Opportunity Downpayment Program
Vine City English Avenue Trust Fund
AAHOP – Atlanta Affordable Home Ownership Program
Beltline Affordable Housing Trust Fund
Affordable Downtown Condos Program (Atlanta)
MAP – Mortgage Assistance Program
NSP – Neighborhood Stabilization Program
Historic Neighborhood Housing
For more info on the previous Georgia home grants please visit the Affordable Housing section of our website, atlantada.com (This is the site for Atlanta Down Payment, please do not confuse it with atlantada.org that is the site for the Atlanta Districtic Attorney]
…And Georgia Dream
Please read my page “Grants Examples” for some eye popping real world examples.
Georgia Dream Grants
Georgia Dream programs have different denominations and apply settings of rules to whom and how it is awarded but the are all part of the Georgia home grants fabric.
Standard Down Payment Program
$5,000 Down Payment Assistance - For credit and income eligible borrowers purchasing a home anywhere In Georgia.
Income and sales price limits apply
For complete list of income limits please check with each program as it varies widely and from year to year.
Down payment funds are provided as a Second Mortgage Loan for the purpose of principal reduction and the payment of pre-paid items and closing costs and made in conjunction with a Georgia Dream First Mortgage Loan.
No Monthly Payments
Loan must be repaid when home is sold or refinanced
or no longer used as the borrowers personal residence.
Borrower contributes a minimum of $500 to the purchase transaction and must complete Home Buyer Education
Georgia homebuyers qualify for:
$5,000 or $7,500>
in Down Payment Assistance with the Georgia Dream Home Ownership Program
Atlanta MSA (Metropolitan Statistical Area)
01 or 02 persons, up to $71,000
03 or more persons, up to $82,000
Purchase price up to $250,000
01 or 02 persons, up to $61,000
03 or more persons, up to $70,000
Purchase price up to $200,000
Borrower must contribute $1,000.00 to the purchase transaction
Borrower must have a minimum “credit score” of 660 and a maximum debt to income of 40/45
Liquid assets at closing may be no more than the greater of $20,000 or 20% of the purchase price
The down payment assistance is a silent second mortgage loan with No interest and No monthly payments which must be repaid when the home is sold or refinanced.
$5,000 if purchase price is $150,000 or less
$7,500 if purchase price is more than $150,000
Must be used in conjunction with a Georgia Dream first mortgage loan
Borrower must be a first time homebuyer
CHOICE - Consumer Home Ownership and Independence Choices for Everyone
To assist households with individuals who are living with a disability achieve the dream of homeownership!
$7,500 to $10,000 Down Payment Assistance Loan Amount
Atlanta MSA Income Limit:
$30,000 and over* = Loan Amount $7,500
Less than $29,999 = Loan Amount $ 10,000
Statewide Income Limit:
$25,000 and over* = Loan Amount $7,500
Less than $25,999 = Loan Amount $ 10,000
*Maximum income and sale price limits apply
To apply: Contact a Georgia Dream participating lender for pre-qualification and to begin the loan process.
First time home buyers or those who have not owned a home in the past 3 years who are purchasing a home in Georgia and who meet the requirements of the Georgia Dream first and second mortgage programs.
Disability Verification Required
Borrower must obtain Home Buyer Education from a DCA or HUD approved housing counseling agency or certified housing counselor and contribute $500 to the purchase transaction.
Which means that potential a person who will qualify for this Georgia home grant can get it a nice little home or condo for as little as $500 down.
PEN = Protectors Educators Nurses
PEN $7,500 Down Payment Assistance
No Monthly Payments
Repaid when home is sold refinanced or no longer used as the borrowers personal residence.
Borrowers must meet Georgia Dream First and Second Mortgage program guidelines and contribute $500 to the transaction.
Again this is given to you as form of a 2nd mortgage – however there is no interest and payment is deferred [there is no payment of the principal] until such time that you sell the property and you pay back that amount. Again without interest!
This open to the following professionals:
Military: the five branches of the armed forces of the United States of America; the Army National Guard; or the Air National Guard. Police department; sheriff’s department; or other law enforcement agency that is responsible for the enforcement of the penal, traffic, or highway laws or the incarceration or detention of offenders.
Fire department (including volunteer firefighters)
Local, city, or county school board that is recognized by the state or accredited by a state or regional accredited association, including:
Head Start, Pre-K, Elementary and High School.
Private school system that is recognized by the state or accredited by a state or regional accrediting association.
State certified teachers of day care providers or schools not recognized by the state or accredited.
NURSES AND Health Care Professionals:
State licensed health care facility including, but not limited, to the following:
2. Doctor and dentist offices
3. Health departments
4. Nursing homes
Recognize yourself – or anyone that you know in any of these categories?
So please go to the link below to learn more and/or to apply: GA - Department of Community Affairs
For additional assistance contact the Office of Homeownership at
Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231
Across Georgia Home Grants and DPA Programs
Atlanta Consumer Mortgage Counseling Service Down Payment Assistance Program Grant (DPAP) Max 5% (770) 455-1770
Charlton County Community Home Investment Program (CHIP) Down Payment and Closing Cost Assistance $10,000.
Clarke County Housing & Economic Leadership Partners Inc Direct Homeownership Assistance Program
$7,000 (706) 549-5200
Georgia Housing Yes Inc Helping Hands Program (GIFT)
$8,830 (67 937-0432
Hall County Down Payment Assistance Program (DPAP)
$2,000 (770) 297-1800
Multi Counties United Way of Metropolitan Atlanta IDA Program (IDA)
$5,250 (404) 527-3549
Savannah Dream Maker 1 - City Wide (DM1) $4,000 (912) 651-6926
Savannah Dream Maker 2 - Target Neighborhood (DM2)
$8,000 (912) 651-6926
Savannah Dream Maker 3 - Infill Housing Neighborhood Street and Block Revitalization Projects (DM3) $50,000 (912) 651-6926
There is more info you might be interested to take a reading on these pages:
Disclosures About Grants:
This list is comprised of the information I have on hand at the time I build this pages. Like anything else in life it is subject to changes from time to time. Therefore all information here is believed to be accurate but it is NOT GUARANTEED.
There is NO claim that this is a complete list of all Georgia home grants available. As a matter of fact it should be believed to be INCOMPLETE for the single fact that I believe there home buying grants almost in every county.
In a personal note – this is a subject that “the more I learn about it, the more I realize there is much more to learn about it.”
Please read, ask around, call, and see if you can find someone who has been in touch with any of these programs to learn from their experience as well. Then call yourself and start the process of getting your well deserved piece of the pie.
…And for a good measure, do book mark this page because there will be an ongoing updates – as I learned about them.
This is but one of the home grants knowledge filled pages I have posted on my site! Please follow the links below to learn more about my other valuable additional home grants information:
JC Fagundes, Head Broker
EQUAL SERVICE TO ALL.
Residential. Commercial. Investments.
Ph: 404 801 4141