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Georgia Dream Homeownership Program
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There are several programs available through governmental agencies and foundations as well as builders. A few programs are outlined below. Since specific builder programs change quickly and last for short periods of time, contact me for more information.
The Georgia Dream Homeownership Program makes purchasing a home more affordable for low-to-moderate income families and individuals by offering fixed, low-interest rate mortgages loans. In addition, the Georgia Dream Homeownership Program also offers down payment and closing costs assistance to eligible borrowers, which can greatly reduce the out of pocket expense to the buyer. Get more information at
Georgia Dream`s Second Mortgage provides 0% interest rate loans to help first-time home buyers with the required down payment, closing costs and prepaid items associated with purchasing a home. Generally these down payment assistance loans are available only if the borrower also uses the Georgia Dream First Mortgage described above. Georgia Dream`s Second Mortgage loans are made as delayed repayment second mortgage loans of $5,000. Delayed repayment means that the loan is repaid when the home is sold, transferred or re-financed or if the home is no longer the borrower`s primary residence.
The Georgia Dream Homeownership Program provides free homebuyer education through a partnership with local entities to help homebuyers take a comprehensive look at the home buying process and home ownership responsibilities. Applicants seeking down payment and closing cost financing are required to attend Homebuyer Education prior to loan closing.
Get more information at http://www.dca.state.ga.us/housing/SFH/index.asp .
Home Buyers Assistance Foundation
T he mission of the Home Buyers Assistance Foundation is to provide the opportunity for homeownership by making the purchase of a home as simple as possible for as many first time home buyers, displaced spouses and single parents as possible, and to help those families whose families have grown and require upgrading to a larger home without disposing of their savings accounts or 401(k) accounts -- by providing a gift for the downpayment on a larger home. It is also our mission to provide counseling and education for home buyers who need assistance understanding the responsibilities and benefits of homeownership.
Get more information at http://www.hbaf.org
Pathways to Homeownership
If credit is the only barrier between you getting a home, then the Pathways to Homeownership is for you. This is a Lease Purchase Plus program through the Housing Authority of Fulton County (HAFC), an innovative $40 million effort designed to help as many as 350 Fulton County renters lease -- and then become homeowners.How it works: First, qualified residents work with the HAFC to select the home of their choice. Then the HAFC buys the house and leases it to the lease-purchaser for a period of up to 39 months. By making timely lease payments and resolving all outstanding credit issues during the lease period, the family can exercise the purchase option and acquire the home by assuming the mortgage from the housing authority. Get more information at http://www.hafc.org/