The Georgia Dream Homeownership Program is available to qualified borrowers statewide who meet certain income guidelines and who are purchasing homes within certain purchase price limits. In addition, borrowers must have modest assets and meet the flexible credit underwriting criteria for the loan program they have selected. If need a FHA HQS Certified Inspector we provide HQS NSP Inspections for $215.00.
ACCURATE HOME INSPECTION OF ATLANTA www.findmeaninspector.com
This program was created to encourage the purchase of foreclosed properties. Related to the Obama Housing Plan, the funds utilized are an allocation of federal dollars received by the Department of Community Affairs from the Housing and Economic Recovery Act of 2008.
The program provides $14,000 to eligible borrowers purchasing foreclosed properties in eligible areas. Funds are disbursed in the form of a second mortgage lien with no interest and no monthly payments. The lien is released over a period of five years and six months. Funds may be used for required repairs and/or down payment assistance.
This program begins April 1, 2009 and all funds must be disbursed by June 30, 2010.
How do I apply?
- All buyers must receive eight hours of in-person home buyer education/counseling provided by a HUD-approved housing counseling agency.
- Contact a Georgia Dream participating lender for pre-qualification and to begin the mortgage loan process. The lender will evaluate your credit worthiness based on FHA or VA guidelines and your qualifications for the program based on the Georgia Dream NSP Down Payment Program guidelines.
For a FREE Georgia Dream Program Brochure emailed to you and Prompt Assistance Finding Qualified Foreclosed Homes.
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