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Smyrna Vinings Real Estate | Smyrna Vinings Foreclosures | Georgia Dream downpayment assistance IS available

By
Real Estate Broker/Owner with Still Serving America Real Estate Group

 

Do you dream of owning a home in the Smyrna Vinings area of Cobb County?  Contact Tanya @ 404-281-1888 or visit TanyaSellsHomes.com

 

DCA can help make your dream of livinging in Smyrna Vinings a reality!                           

 • 30 year low fixed interest rate mortgages

• Local lender approval for Conventional, FHA, USDA-RD or VA

mortgage loans

• Very low closing costs

• Involuntary unemployment, accidental disability, and accidental death

and dismemberment insurance available on homes re-sale and foreclosures

 

1) You must be a first time homebuyer or not have owned a home

in the past three years, or purchase a home in a targeted area (Smyrna Vinings) to

qualify for first mortgage financing.

2) If you purchase a home in the Atlanta MSA:

Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb (Smyrna Vinings), Coweta, Dawson, Dekalb, Douglas, Fayette,

Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding,

Pickens, Pike, Rockdale, Spalding or Walton Counties

Your total household income based on the number of persons living in the home can be no more than:

One to Two persons $68,000

Three or more persons $78,000

You may qualify to purchase a home with a sales price of up to $250,000

3) If you purchase a home in any county in Georgia not listed in #2 above:

Your total household income based on the number of persons living in the home can be no more than:

One to Two persons $58,000

Three or more persons $67,000

You may qualify to purchase a home with a sales price of up to $200,000.

Georgia Dream Second Mortgage Loan Financing

 

Eligible first time homebuyers may qualify for a Georgia Dream Second Mortgage loan for the down

payment and closing costs associated with the purchase of their home. The Georgia Dream Second

Mortgage financing must be used in conjunction with a Georgia Dream First Mortgage Loan.

• No interest

• No monthly payments

• No payment due until home is sold, refinanced or no longer used as

the borrower's principal residence.

Eligible borrowers will:

1) Have a total annual household income that does not exceed the limits on the chart below based on the

number of persons living in the home and the location of the home

2) Contribute a minimum of $500 of their own funds towards the purchase transaction, and

3) Complete Home Buyer Education with a DCA Home Buyer Education partner listed in this brochure or

any HUD approved housing counseling agency. www.hud.gov

 

Statewide 30,400 34,750 39,100 43,450 46,950

Banks 31,250 35,700 40,200 44,650 48,200

Bibb, Crawford, Jones, Peach, Twiggs 30,800 35,200 39,600 44,000 47,500

Bryan, Chatham, Effingham 32,250 36,900 41,500 46,100 49,800

Glynn, Brantley, McIntosh 31,300 35,800 40,250 44,700 48,300

Hall 33,250 38,000 42,750 47,500 51,300

Houston 35,750 40,900 46,000 51,100 55,200

Jackson 31,200 35,650 40,100 44,550 48,100

Lumpkin 30,800 35,200 39,600 44,000 47,500

Monroe 34,100 38,950 43,850 48,700 52,600

Atlanta Area Counties* 39,850 45,550 51,250 56,950 61,500

Georgia Dream Second Mortgage Loan Income Limits

STANDARD

 

All eligible homebuyers

$5,000

 

Eligible homebuyers who are employed by entities that provide public

protection (including the military), health care, or education.

$7,500

 

Eligible homebuyers looking in the Smyrna Vinings area whose household includes an individual living with a disability

$7,500 - $20,000

 

Eligible homebuyers who are the surviving spouse of a military serviceman

or servicewoman or of a public protector.

$10,000

 

Eligible members of Georgia's Army and Air National Guard who purchase a home in the State of

Georgia.

$10,000

 

Eligible employees of local governments designated as Signature Communities

$7,500

 

Energy efficient and/or visitable homes that are certified to meet the Energy Star, EasyLiving Homecm

or EarthCraft HouseTM program requirements.

$7,500

 

Affordable homes constructed under this special development program

$7,500 - $20,000

 

Appling

Atkinson

Bleckley

Brooks

Bulloch

Burke

Calhoun

Charlton

Chattooga

Clay

Clinch

Coffee

Colquitt

Cook

Coweta

Crawford

Crisp

Decatur

Dodge

Dooly

Early

Echols

Elbert

Emanuel

Evans

Fannin

Grady

Greene

 

Hancock

Haralson

Heard

Irwin

Jasper

Jefferson

Jenkins

Johnson

Lamar

Laurens

Lincoln

Long

Macon

Marion

McDuffie

McIntosh

Meriwether

Miller

Mitchell

Montgomery

Morgan

Newton

Oglethorpe

Peach

Polk

Pulaski

Quitman

Randolph

Schley

Screven

Stewart

Sumter

Talbot

Taliaferro

Tattnall

Taylor

Telfair

Terrell

Thomas

Treutlen

Turner

Twiggs

Upson

Ware

Warren

Washington

Wayne

Webster

Wheeler

Wilcox

Wilkes

Wilkinson

Worth

 

The Georgia Department of Community Affairs, through partnerships with a network of non-profits covering the state, provides

Home Buyer Education to potential home owners. DCA supports the education of future home owners on the benefits and

responsibilities of homeownership as a necessary and important part of the home buying process. The DCA website offers a

detailed list of organizations and their service areas at www.dca.state.ga.us/housing/SFH/Hbed.pdf

How do I apply?

1) Contact a Georgia Dream Participating Lender for pre-qualification and to begin the mortgage loan process.  Make sure you specify that you are looking in a designated area or the Smyrna Vinings, Mableton area.

2) Attend homebuyer education to learn more about buying and owning a home.

* workshops ** counseling *** workshops & counseling

Georgia Department of Community Affairs

 

60 Executive Park South, NE • Atlanta, GA 30329-2231

 

Equal Housing Opportunity

dream Fulfilling the Dream of Homeownership

 

 BEST BUY OF THE WEEK...... Smyrna Vinings Townhome AUCTION.

 

 

 

Posted by

2014 real estate recovery is like a marathon. Last year, buyers and sellers sprinted out of the gates at full speed, Interest rates were low and homes were at affordable  prices. The press and social media were full of stories about limited housing inventories, bidding wars and multiple offers. In 2013, real estate was the "Bomb".

 

As we move into 2014, it’s clear in our minds that we have only run the first few miles of this marathon. Last year’s excitement will surely wear off, and there will be a lot less flashy magazine covers, posts, tweets or evening news stories about real estate. Most experts predict a slower, steadier, more even “keel” this year in most of the country, even as interest rates and home values inch up.

 

2014 will be as good of a time to buy real estate as 2013. Looking at the bigger picture and not get caught up in the micro stats or the latest headlines. Sure, we likely won’t see interest rates as low in 2014 as we did in 2013. But to put that into perspective, interest rates were as high as 18 percent in the 1980's, yet people still bought homes.

 

As you approach buying a home this year,  focus on the long term by keeping the following five best practices in mind. These were best practices for home buying a generation ago. And they’ll most likely still be practical when the next generation of home buyers sprints out of the gate.

 

Buy when you’re ready

 

Just because you didn’t buy last year when the market was super hot doesn’t mean you’ve missed out. Could you have gotten in when the rates were at their lowest and values near the bottom? Sure. But were you ready to buy then? Probably not. The main thing to remember is that you should buy a home when you can afford it, you have your financing and you’ve found a home that meets your needs. That will always be the best time to buy.

 

Home buying is a journey

 

Despite how quickly the world works today, you can’t force a home purchase. It’s not like buying a television or a laptop. A home is a much more expensive and complicated purchase. It’s where you can feel safe and calm from the outside world, a place you can customize to your needs, and where you will make lasting memories. Because of this, buying a home comes with emotional and practical implications on top of the financial ones. Remember that a home is your place to live first and an investment second. Take the time you need to find the right home.

 

Don’t be driven by data

 

If you watch the nightly news or read news online, you’ll hear real estate market predictions and numbers on a national level. And at any given time, you’ll likely get conflicting real estate forecasts. A lot of information and data will come at you from many different angles — including social media. Don’t take anything to be an absolute. Keep your own goals and needs top of mind at all times.

 

Real estate is local

 

The national real estate news headlines may be about multiple offers and bidding wars. But that situation may only be relevant to one part of the country or even to just a handful of cities. Meanwhile, the neighborhood where you want to buy a home still has distressed sales and is more of a buyers’ market.

 

All that really matters in real estate is what’s happening in your own community. If you’re interested in getting into the market, follow the local economy and housing markets. Go to open houses and learn. Get connected to a real estate agent who has “feet on the street.”

 

Go with your gut

 

You know your financial situation better than anyone. You know your down payment amount, credit score, amount of savings and the upper limits of what you can afford to put toward homeownership every month. Apply what you know about your finances to your local real estate market. You know the neighborhoods, the commercial districts and the types of homes for sale. By merging these two, your gut will inform you on what’s a good buy, when it’s the right time to buy and how to approach a purchase.

 

In 2014, stay focused on what you know, stay local, take your time and don’t let outside forces sway your decision to buy a home. People have bought and sold homes for years, at higher prices and with higher interest rates. If you’re in it for the long haul, consider yourself at mile 3 of a 26-mile marathon.

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