Georgia’s Dream Homeownership Program for First-time Homebuyers
The Georgia Dream Homeownership Program makes it possible with affordable mortgage financing for eligible home buyers.
Georgia Dream Loans are available to:first-time home buyers those who have not owned a home in the past three years those who purchase a home in targeted areas (please see map on page 5) have household incomes below the maximum (please see schedule on page 2) have liquid assets no more than $20,000 or 20% of the sales price (whichever is greater) meet mortgage loan credit requirements.
Maximum Household Income & Home Sales Price
If you purchase in DeKalb County, Decatur, GA Total Household Income can be no more than: (based on the number of people living in the home) 1-2 persons $69,000* 3+ persons $79,500* and home price can be no higher than $250,000.
The greatest hurdle for many prospective home buyers is the down payment. Down Payment Assistance Borrowers who qualify for the Georgia Dream Program benefit from down payment assistance.Down Payment Loan Options STANDARD All eligible home buyers qualify for $5,000 PEN Eligible home buyers who are employed in qualified public protection, military, health care or education qualify for $7,500 CHOICE Eligible home buyers whose household includes an individual living with a disability qualify for $7,500
You may ask “How do I Apply?: Contact a Georgia Dream Participating Lender for pre-qualification and to begin the mortgage loan process. A list of lenders can be found at www.gadream.com or by calling 1-800-359-4663.
Homebuyer counseling is required for ALL Georgia Dream Loans.Borrowers must attend and complete either a homebuyer education workshop, OR individual housing counseling sessions, OR an online homebuyer education course through E-Home America. Workshops and counseling sessions must be completed with a DCA or HUD approved housing counseling agency. Online Home Buyer Education may be completed ONLY at www.ehomeamerica.org. A list of HUD approved agencies is available at www.hud.gov or call HUD’s interactive voice system at 1-800-569-4287. A list of DCA agencies is available at www.gadream.com.
When you ready to buy your dream home call Kevin Polite, Solid Source Realty, Inc. at HausZwei Homes 404-299-7100.
« Back to Home Page
