First-Time Home Buyer Programs in Georgia

Georgia Department of Community Affairs (DCA) Programs:

The Georgia Dream Homeownership Program provides affordable 30-year fixed-rate mortgages and down payment assistance for eligible buyers through approved lenders. No uniform statewide sales price limit; income limits vary by county/MSA (higher in targeted areas). Mandatory homebuyer education required. Verify current rates, income/purchase limits, and targeted areas at dca.georgia.gov/georgia-dream or contact a participating lender.

Georgia Dream Homeownership Program:

Eligibility: First-time homebuyers (no primary residence in past 3 years), waived in targeted areas or for qualified veterans; low-to-moderate income.
Offerings: 30-year fixed-rate mortgage (FHA, VA, USDA, or Conventional) at competitive market rates + down payment assistance.
Requirements:

• Income ≤ area-specific limits (e.g., Atlanta MSA: $130,290 for 1–2 persons / $149,833 for 3+; Athens MSA: lower; rural counties: $98,400–$113,160—check current PDF by MSA/county).
• Minimum credit score: 640.
• Debt-to-income ratio typically ≤45% (up to 50% with compensating factors).
• Homebuyer education required (workshop, counseling, or online course).
• Liquid assets ≤ $20,000 or 20% of sales price (whichever greater) after closing.

Down Payment Assistance (DPA) Options:

Standard DPA: Up to 5% of purchase price or $10,000 (lesser amount) as 0% interest second mortgage (deferred; no monthly payments; repay on sale/refinance).
Peach Plus / Special Options: Up to $12,500 for public protectors, educators, healthcare workers, military, or families with a disabled member.
Eligibility: Must pair with Georgia Dream first mortgage; minimum $1,000 buyer contribution often required.

Local Programs (Examples):

County/city programs (often via SHIP or local housing authorities) provide additional deferred/forgivable assistance—funding varies; check local sites.

Fulton County (Atlanta Area)

Fulton County Homeownership Program (HOP): Up to $22,500 deferred 0% interest second mortgage for down payment/closing/interest buydown; income-based for first-time buyers—see fultoncountyga.gov.

Savannah / Chatham County

DreamMaker Home Purchase Assistance: Assistance for down payment/closing/gap financing; income-eligible first-time buyers in city limits—check local housing authority.

Augusta-Richmond County

Augusta Homeownership Assistance Program: Down payment/closing help for eligible buyers; income-based—verify with Augusta Housing Authority.

Additional Information:

• Purchase Price Limits: Vary by area (e.g., $550,000 in Atlanta MSA; $400,000–$425,000 elsewhere).
• USDA Loans: 0% down in eligible rural Georgia areas; income limits apply.
• VA Loans: 0% down for eligible veterans/active-duty military.
• FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).

Georgia programs emphasize affordable financing and targeted help—always confirm with a participating lender or dca.georgia.gov. Seeking Agents® connects you with Georgia agents who know these programs and compete to offer reduced commissions or added services—free for buyers/sellers!