The Georgia Dream Homeownership Program
If you’re looking for down payment assistance in Georgia, you’re in luck. The Georgia Department of Community Affairs offers a $5,000 grant for first time property purchasers who need help coming up with the funds for the down payment.
The program is called the “Georgia Dream Homeownership Program”. The State of Georgia website describes the DPA program as follows:
What is Georgia Dream?
The Georgia Dream Homeownership Program provides first mortgage loans, down payment assistance and home buyer education to eligible home buyers. An eligible borrower must not have owned a home in the past three years, or must be purchasing a home in a targeted area. The borrower must meet income and purchase price limits, have limited assets, and must invest at least $1,000 into the purchase transaction.
There is even more good news for those people who are Protectors, Educators and Health Care Workers, or Families with members who are disabled. If you are in one of these groups, the down payment assistance available to you is $7,500.
From the State of Georgia website:
Down Payment Assistance
Two additional programs are available: Down Payment Assistance for Protectors, Educators and Health Care Workers (PEN), and Down Payment Assistance for Families with members who are disabled (CHOICE). PEN and CHOICE eligible borrowers qualify for $7,500 in down payment assistance.
To find out more about these extremely helpful down payment programs, and to get your application process started, visit the State of Georgia webpage here.
More Georgia Down Payment Assistance
In addition to these statewide programs, you should also check to see if there are local programs offered in GA that provide additional help that can be applied toward your down payment.