The Department of Community Affairs has just lowered the interest rate on the GA Dream Recovery Down Payment Assistance Program. To find out the current interest rate, just click here.
New interest rates take effect every Thursday at 5:01 pm.
There are some TEMPORARY revisions to the GA Dream Recovery (formerly Plus) Down Payment Assistance Program.
FOR A LIMITED TIME THERE ARE SPECIAL GUIDELINES FOR HOME BUYERS PURCHASING IN COUNTIES DESIGNATED AS DISASTER AREAS
Twenty One (21) GA counties have been designated as Federal Disaster Areas as a result of the recent floods.
The counties are Carroll, Catoosa, Chattooga, Cherokee, Cobb, Crawford, Dawson, DeKalb, Dooly, Douglas, Fulton, Gwinnett, Heard, Houston, Newton, Paulding, Peach, Rockdale, Stephens, Taylor & Walker.
Home Buyers in these counties are eligible for Georgia Dream First Mortgage Loans with Rewards/Recovery Down Payment assistance and these special provisions:
* Home Buyers Do NOT have to be first time home buyers.
* Higher purchase price limits
* Higher Household Income limits
Carroll, Cherokee, Cobb, Dawson, Dekalb, Douglas, Fulton, Gwinnett, Heard, Newton, Paulding & Rockdale - $300,000 purchase price limit
1 or 2 persons $86,000 income limitation
3 or more persons $100,000 income limitation
Catoosa, Chattooga, Crawford, Dooly, Houston, Peach, Stephens, Taylor & Walker - $250,000 purchase price limit
1 or 2 persons $73,000 income limitation
3 or more persons $85,000 income limitation
The Department of Community Affairs not yet announced when these temporary changes will end.