Atlanta Homeownership Program (AAHOP) Provide Down Payment Assistance to Homebuyer's

By
Real Estate Agent with Keller Williams Realty Cityside

The "Atlanta Affordable Homeownership Program (AAHOP" was recently rolled out to assist homebuyer's with up to $10,000 down payment assistance in the form of 0% interest rates. The down payment assistance is in the form of a soft second with few restrictions. It also can cover up to 50% of the cost associated with home purchasing. In addition, the (AAHOP) and (ODAP) Opportunity Down payment Assistance Programs can be combined to up to $35,000.00 or more for down payment assistance.

Furthermore, the mortgage provided by the Atlanta Development Authority (ADA) participating lenders must be an FHA, VA, or a Conventional 30-year fixed loan. In today's market, most of these loan rates range between 3.75% to 4.25%   an example will be a house below 3 bedroom 2 bath home, newly renovated priced at $124,900.00 with 20% ($24,900.00 Down Payment Assistance), with a mortgage loan of $100,000.00, rate at 4.25%, 30 year fixed. Principal, Interest, and Taxes will be $642.89 per month. The monthly payment indicated above is less than what most renters are paying in this area of Atlanta, Georgia.

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Few restrictions are as follows:

•·   The property must be located in the city limit of Atlanta

•·    Maximum purchase price limit on new and existing is $252,890.00

•·    Must be Single family detached homes, townhomes, and condominiums

•·    Property must be owner occupied

What are the income limits?

Household Size                           Income Limits
(1 person Household)                $40,250   
(2 person Household)                $46,600
(3 person Household)                $51,750
(4 person Household)                $57,450
(5 person Household)                $62,050

To find out more about homes that qualify for the ADA programs visit: www.jaybsellshomes.com

Posted by

Jay Badru

Certified REO Specialist

Keller Williams Realty Cityside

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Topic:
Home Buying
Location:
Georgia Fulton County Atlanta Capitol View
Groups:
1st Time Buyers
FOR SALE BY OWNER - MARKETING(FSBO)
Tags:
atlanta downpayment assitance program
0 down payment help

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Jay Badru

Certified REO/Short Sale/Foreclosure Specialialist
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