2021 Georgia First-Time Home Buyers Programs

In Fishing State, first-time buyers – considered buyers who haven’t owned a home in three years – can turn to the Georgia Dream Home Ownership Program for help finding mortgage financing. The rates and fees for home loans are set by the Georgia Dream program.

National programs for first-time home buyers

No matter where you live in the 50 states, these loan programs make buying a home more affordable, helping first-time homebuyers overcome obstacles such as limited income, a low credit rating, or financial loss. no deposit.

Georgia Dream Program Highlights and Eligibility Requirements

Strong points

  • Affordable mortgage rates.

  • Prepared borrowers typically close in about 60 days.

  • Most first-time home buyers receive down payment assistance.

Eligibility

  • 640 minimum credit score.

  • Buyers must invest at least $ 1,000.

  • Homebuyer education required.

Programs for first-time home buyers in Georgia

Summary: Programs for 2021 Georgia Dream First-Time Home Buyers

  • Georgia Standard Down Payment Assistance provides all eligible borrowers with assistance of $ 5,000.

  • Georgia PEN provides $ 7,500 in assistance to first responders, military personnel, educators, medical professionals and others.

  • Georgia Choice helps eligible disabled borrowers with $ 7,500 down payment assistance.

Find details about the Georgia Dream Mortgage and Georgia Dream down payment assistance programs, including income and purchase price limits and a map of targeted counties, at www.GADream.com. For more information or assistance, send an email [email protected].

Only certain lenders are approved by the state to offer Georgia Dream mortgages. Buyers begin the application process by find a participating lender who can review the requirements with you and help you apply for prequalification and pre-approval. Lenders may have additional requirements for borrowers. All lenders are required to offer homebuyers the same rates and fees, and Georgia Dream has a cap on the amount of fees a lender can charge.

If your credit score is too low to qualify for a Georgia Dream mortgage, there is still hope. Get set, get set, go is a program for home buyers that helps prospective homeowners improve their credit scores to become eligible for a Georgia Dream home loan.


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