First time home buyers and single parent families may qualify for a Georgia Dream Second Mortgage of up to $20,000! Borrowers are only required to contribute a minimum of $500 of their own money towards the purchase transaction!
The following groups may be eligible for down payment assistance/second mortgage loans up to a certain amount:
•-Protectors (Army, police, fire fighters) Educators, Health Care Workers may be eligible to receive $7500
•- Anyone who purchases a home which is certified by EarthCraft Homes, ENERGY STAR Homes, or EasyLiving Home.
•- Disabled individuals may be eligible for Up to $20,000.
•-Certain members of the military or their surviving spouses may be eligible for $10,000
Income, purchase price and other guidelines apply.
Georgia Dream Second Mortgage loans are 0% interest, delayed repayment loans. (No interest, no monthly payment till the property is sold, refinanced, or no longer is the borrower's primary residence), they are generally only available if the borrower uses the Georgia Dream First Mortgage loan as well.
The first step in taking advantage of this program is to contact a participating lender. Call 770-438-1975 for a current list of Georgia dream lenders.
Comments(0)