GA Dream,down payment assistance,

The GA Dream Homeownership Program is a government-sponsored down payment assistance program. 

 It offers either $5000 or $7500 depending on the buyer's qualifications in the form of a silent second mortgage for first-time homebuyers.

The silent second mortgage is a recorded document, however unlike the first mortgage, the second it at zero percent interest with no monthly payments.  The only time it would be repaid is if the loan is refinanced or the home is sold.






On February 24, it was announced that there would be changes to the GA Dream Homeownership Program as outlined below.


IRS REDUCES MAXIMUM INCOME LIMITS

Changes are effective with

loan reservations

on or after

Saturday, February 25, 2012

 

Borrowers purchasing within the Atlanta Metropolitan Statistical Area:

Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties may have a total household income(based on the number of people living in the home) of no more than:

 

One to two persons              $69,000

Three or more persons          $79,500

 

Borrowers purchasing outside the Atlanta Metropolitan Statistical Area: (Any county not listed above) May have a total household income (based on the number of people living in the home) of no more than:

 One to two persons             $59,500

 Three or more persons        $68,500

 

For more information regarding qualifying for this program, please contact me.

 

If you found this blog valuable, please subscribe by clicking the button to the right.  If you are ready to talk about a mortgage, please click HERE to apply now.

 

Signature 

 

Kathleen Sheehan

Sr. Mortgage Consultant

NMLS #206275
Georgia Residential Mortgage Licensee #25839

600 Galleria Parkway

Suite 170

Atlanta, GA  30038

 

770.634.4021 cell

 


What to learn more, Google Me!


Like what you saw, please SUBSCRIBE to my blog!


  


Women's Council of Realtors Secretary







The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

 
Post is included in group: "Whacked"!!!
Post is included in group: WeBlog Anything (almost)!
Post is included in group: ActiveRain Contests
Post is included in group: Mortgages
Post is included in group: Almost Anything Goes

3 Comments on FAQ #8 Where can I get help with my down payment?

JUN
08
320,118 Points 4 Featured Posts Outside Blog Hit Router Called Shot Master

Wow Kathy, what a great program for home buyers in the Atlanta area, I am sure this will help many folks.
7:26pm • #1
413,197 Points 16 Featured Posts Outside Blog Called Shot Master

Thanks Kathy!  It is a great program for those that qualify.
7:35pm • #2
403,920 Points 8 Featured Posts Outside Blog Called Shot Master

Kathy - Great information for buyers to have.  They need to know about these kinds of programs.
10:28pm • #3


What does the graphic say?
Leave a response…

(optional)
Spam Prevention: