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Georgia Dream Homeownership Program

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Georgia Dream Homeownership Program

Matt Fagioli

Matt's clients rave about his team and about the level of service they provide throughout the entire process of buying or selling real estate...

Matt's clients rave about his team and about the level of service they provide throughout the entire process of buying or selling real estate...

Jul 3 4 minutes read

Dreaming of owning your own home?

The Georgia Dream Homeownership Program may be the missing piece to make that dream of yours a reality! This program offers affordable mortgages for eligible home buyers.

Is the Georgia Dream program fit for me?

Georgia Dream loans are available to:

First-time home buyers who have a household income up to the maximum requirement.

Home buyers who have not owned a home in the past three years that have liquid assets of no more than $20,000or 20% of the sales price. (Whichever is more)

Those who purchase a home in certain areas and meet mortgage loan credit requirements. (See map below)

*Loans are 30-year fixed interest rate mortgages. Participating lenders give credit approval for FHA, USDA-RD, VA or conventional eligible mortgage loans.

Maximum Household Income & Home Sales Price

The purchase price cannot exceed $250,000 and house income cannot exceed $74,000 for 1 or 2 persons or $84,500 for 3 or more persons in the following counties: Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, or Walton.

The purchase price cannot exceed $200,000 and household income cannot exceed $60,500 for 1 or 2 persons or $69,500 for 3 or more persons in any other county not listed above.

Income limits are subject to change. Please visit www.GADream.com for current limits.

Need help with your down payment?

A big obstacle that can prevent homeownership is not being able to afford the down payment. The Georgia Dream Homeownership Program helps qualified borrowers get into a home for a minimum of $1,000 down!

See Down Payment Loan Options below.

Down Payment Loan Options

Standard:

All eligible home buyers may qualify for $5,000 in assistance.

PEN:

Are you a public protector, educator,health care provider or active military? If so, you may qualify for $7,500 in assistance through the PEN program.

CHOICE:

Is a member of your family living with a disability? If so, you may qualify for $7,500 in assistance through the CHOICE program.

How to get started?

Contact a Georgia Dream Participating Lender to pre-qualify and begin the mortgage loan process. Go to www.GADream.com to find a list of participating lenders, or call 1-800-359-HOME (4663).

Georgia Dream Targeted Areas

The Georgia Dream Homeownership Program is available to eligible first time home buyers in all Georgia counties.

However, if you purchase a home in one of the targeted counties shaded in green, you do not have to be a first-time home buyer.

Are you a first time home buyer?

You may be eligible to pay only $15,000 for downpayment, closing costs and prepaid costs when purchasing a home.

Georgia Dream Hardest Hit Fund Down Payment Assistance

You may qualify if you are a first time home buyer, meet the criteria and purchasing in one of the 10 qualified Georgia counties.

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