The Georgia Department of Community Affairs introduces the

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The Georgia Department of Community
Affairsintroduces the
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Georgia DreamHomeownership Program

• First mortgage loan- 30 year
• _at_ below market fixed rate
• Down payment assistance
• 5,000 -20,000
• No monthly payments _at_ 0 interest
• Home buyer education counseling

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Georgia Dream First Mortgage
30 year fixed rate loan

• Conventional or FHA or VA or USDA
• May include involuntary unemployment insurance
• For first time home buyers whose household
• income is less than
• 
  
  1 to 2 persons 3
  or more persons
• Statewide 58,000 67,000
• Atlanta MSA 68,000 78,000
• For the purchase of a home with a sales price up
  to
• Statewide 200,000 Atlanta Area
  250,000

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Who Qualifies?

• Federal and state laws and regulatory guidelines
• define for us who is eligible for assistance
  under our
• programs.
• Borrowers who are first time homebuyers
• Or have not owned a home in the past 3 years
• Or purchase a home in a targeted area
• Borrowers with limited assets (Will review in
  Seller Guide)
• Borrowers who meet the income guidelines
  previously discussed

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Georgia Dream Down Payment Assistance

• 5,000 - 10,000
• No monthly
• payments
• 0 Interest

• Second mortgage
• loans for
• down payment
• closing costs or
• pre-paid items

Repaid when home is sold, refinanced or no longer
used as borrowers personal residence.
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Household Income Limits for Georgia Dream
Second Mortgage Loans

• Statewide Atlanta MSA
• 1 person 30,400 39,850
• 2 person 34,750 45,550
• 3 person 39,100 51,250
• 4 person 43,450 56,950
• 5 person 46,950 61,500
• Complete Income list Appendix VII
• Larger sample list in brochure

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5,000

• All
• Eligible
• Borrowers

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Protectors (PEN)
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Educators (PEN)All School System Employees
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Nurses (PEN)All Healthcare Employees
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CHOICE
CHOICE
CHOICE
Are you or any member of your household
living with a disability?
Are you or any member of your household
living with a disability?
Are you or any member of your household
living with a disability?
Consumer HomeOwnership and IIndependence Choices
for Everyone 7,500 to 20,000 Down Payment
Assistance Loan Atlanta MSA
Statewide Amount Income
Limit Income Limit 7,500
30,000 and over 25,000 and over
15,000 20,000 29,999 15,000
24,999 20,000 Less than
20,000 Less than 15,000 Maximum income
and sale price limits apply
Consumer HomeOwnership and IIndependence Choices
for Everyone 7,500 to 20,000 Down Payment
Assistance Loan Atlanta MSA
Statewide Amount Income
Limit Income Limit 7,500
30,000 and over 25,000 and over
15,000 20,000 29,999 15,000
24,999 20,000 Less than
20,000 Less than 15,000 Maximum income
and sale price limits apply
Consumer HomeOwnership and IIndependence Choices
for Everyone 7,500 to 20,000 Down Payment
Assistance Loan Atlanta MSA
Statewide Amount Income
Limit Income Limit 7,500
30,000 and over 25,000 and over
15,000 20,000 29,999 15,000
24,999 20,000 Less than
20,000 Less than 15,000 Maximum income
and sale price limits apply
For information contact The State of
Georgia Department of Community Affairs
1-800-359-HOME or visit www.dcaloans.com
For information contact The State of
Georgia Department of Community Affairs
1-800-359-HOME or visit www.dcaloans.com
For information contact The State of
Georgia Department of Community Affairs
1-800-359-HOME or visit www.dcaloans.com
Revised 02-07
Revised 02-07
Revised 02-07
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EV Program7,500

• For eligible borrowers who purchase homes that
  have been certified to meet the following
  criteria
• EarthCraft Homes
• ENERGY STAR Homes
• EasyLiving Homes

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HONORS10,000

• Surviving spouse of
• Military
• Protector in the
• line of duty

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Welcome Home10,000

• Thank you to those serving our
• country in the war on terrorism
• Members of
• ? Georgias Army National Guard
• ? Georgias Air National Guard

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Single Family Development
Encourages development of affordable housing
construction Gap funding to developers of up to
20,000 Down payment assistance to borrowers of
up to 20,000
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Who Qualifies for 2nd?

• Borrowers who are first time homebuyers
  in non-targeted areas
• In Targeted Areas- first time homebuyers or
  borrowers who are
• Single parent families
• Borrowers in dilapidated housing
• Displaced Homemakers
• Borrowers who meet income and asset guidelines

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Homeownership Voucher Program

• Applicant uses rental voucher towards monthly
  mortgage payment
• Must meet Georgia Dream First and Second Mortgage
  requirements
• Eligible for applicable down payment loan

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Home Buyer Education

• Provided by Georgia Dream Homeownership
• partners across the state.
• Pre post purchase credit and debt
• management counseling.
• No cost to home buyer!
• Required for Second Mortgage Loan Program
• applicants.

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Why Georgia Dream?

• To date over 40,000
• Georgia families
• have achieved the
• dream of homeownership through the
• Georgia Dream Homeownership Program!

Fulfilling Homeownership Dreams!
Why Georgia Dream?

• To date over 33,000 Georgia families have
  achieved the dream of homeownership through the
  Georgia Dream Homeownership Program!
• Georgia Dream home buyers benefit from
• Easy qualifying
• Affordable monthly payments
• Free home buyer education
• Below market rate first mortgages with terms up
  to 35 years
• Conventional, FHA, VA and USDA mortgages
• Interest only products with a fixed rate
• Very low closing costs
• 5,00020,000 for down payment, closing costs
  and prepaid items
• 100 financing
• Combining special financing programs
• Local government initiatives
• Mortgage insurance with added benefits at no
  additional cost
• Minimum out of pocket cash for closing
• Friendly, knowledgeable Georgia Dream lenders

To expand your business through the Georgia
Dream Homeownership partnership contact us at
1-800-359-HOME(4663) or go to www.dcaloans.com
Georgia Department of Community Affairs 60
Executive Park South NE Atlanta, GA 30329
Fulfilling the Dream of Homeownership