Georgia Dream Homeownership Program

What is the Georgia Dream Homeownership Program?
The Georgia Dream Homeownership Program makes home ownership more affordable for low-to-moderate income families and individuals by offering fixed, low-interest rate mortgage loans.
In addition, the Georgia Dream Homeownership Program offers down payment and closing costs assistance to eligible borrowers, which can greatly reduce the out of pocket expense to the buyer.

How Do I Qualify For The Georgia Dream Loan?
The program is designed for First-time home buyers
You must not have owned a home in the past 3 years
If you are purchasing a home in targeted areas set by the program

What Else do I Need To Qualify For The Georgia Dream Loan?
Your household incomes must be below the maximum (see below)
Your liquid assets can be no more than $20,000 or 20% of the sales price
You must meet mortgage loan credit requirements

What Types Of Loans Are Allowed For Georgia Dream?
The loans are 30 year, fixed interest rate mortgages. Local lenders give credit approval for FHA, USDA-RD, VA or conventional uninsured mortgage loans.

What Is The Maximum Household Income Allowed For Georgia Dream?
If you are purchasing a home within the Atlanta Metropolitan Statistical Area:
Your total household income (based on number of people living in the home) can be no more than:
$69,000 for 1 to 2 persons
$79,500 for 3 or more persons

If you are purchasing a home Outside the Atlanta Metropolitan Statistical Area:
Your total household income based on number of people living in the home) can be no more than:
$59,500 for 1 to 2 persons
$68,500 for 3 or more people

What Is The Maximum Sales Price Of The Home That Georgia Dream Allow?
$250,000 (If home is within Atlanta Metro Area)
$200,000 (if home is outside Atlanta Metro Area)

What Is The Current Interest Rate for Georgia Dream?
For a Georgia Dream First Mortgage Only:
2.875% (FHA/VA/RD/Conventional Uninsured, 30 year fixed)

For Georgia Dream First Mortgage combined with any Georgia Dream Down Payment Loan:
2.875% (FHA/VA/RD/Conventional Uninsured, 30 year fixed)

Will I Have To Pay Back The Money I Get From The Georgia Dream Program?
YES…The money received has to be paid back, but…not until you sell or re-finance the home.

Source: www.dca.state.ga.us

How Do I Apply For Georgia Dream Assistance Program?
You may contact us at 866-465-2736 and we will put you in touch with a Georgia Dream Participating Lender for pre-qualification and to start the process.

Have More Questions?
Fill out the form below and we will contact you or call us at 866-465-2736.

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