Dreaming of Owning Your Own Home?
The Georgia Dream Homeownership Program makes it possible!
Down payment assistance is available for eligible home buyers!
The Georgia Dream Homeownership Program is available to qualified borrowers statewide who meet certain income guidelines and who are purchasing homes within certain purchase price limits. In addition, borrowers must have modest assets and meet the flexible credit underwriting criteria for the loan program they have selected.
How do I apply?
- Submit a Home Loan Application. Please tell us you are interested in GA Dream in the comments section.
- Give us a call at 678-578-4880
How do GA Dream Down Payment Assistance Programs Work?
- 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.
- The Down Payment Loan may only be used in conjunction with a Georgia Dream First Mortgage Loan.
- GA Dream sets the interest an closing fees for the first mortgage
- No Monthly Payments for the Down Payment assistance
- No Interest
- Loan must be repaid when home is sold or refinanced or no longer used as the borrowers personal residence
GA Dream Programs:
- STANDARD gives eligible buyers $5000 in Down Payment Assistance
- PEN gives eligible home buyers who are employed by entities that provide public protection (including the military), health care, or education $7,500 in Down Payment Assistance.
- CHOICE gives eligible home buyers whose household includes an individual living with a disability $7,500 in Down Payment Assistance
It’s easy to qualify!
- You must be a first time home buyer or not have owned a home in the past three years, or purchase a home in a targeted area.
- If you purchase a home in the Atlanta MSA (Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, Dekalb, Douglas, Fayette,Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties):
Your total household income based on the number of people living in the home can be no more than:
- One to Two persons $71,000
- Three or more persons $82,000
You may qualify to purchase a home with a sales price of up to $250,000
- If you purchase a home in any county in Georgia not listed in the Atlanta MSA above:
Your total household income based on the number of persons living in the home can be no more than:
- One to Two persons $61,000
- Three or more persons $70,000
You may qualify to purchase a home with a sales price of up to $200,000
- At closing, your liquid assets must be no more than the greater of $20,000 or 20% of the sales price.
What else do I need to know?
- You will have to put at lease $1000 into your home purchase. That can be earnest money or the money spend on your appraisal.
- You will need to complete a Homebuyer Education course. You can take it online at MGIChome.com
- The Down Payment Funds have no interest, no payments and do not have to be paid back until the house is sold or is no longer your primary residence.
Contact us or call Your HomeOwnership Team at 678-578-4880 for more information.