*oY ouG/retlmofmiyaI;ome? Q C 'canhe@m&yourc/retlmamk$! 1 fhe Georgia Dream Homeownership Program m hoaf shohmelepoewdnoevresrh8ip3,b00y0pGroevoidrginiagnasffaocrhdiaebvleetfhiresdt ream mortgage financing and down payment assistance. 4 . r Here's how we can help you.. Geomia Dream FirstMortaageLoanFinancing I 30 year low fixed interest rate mortgages * Local lender approvalfor FHA, USDA-RD, VA or conventional mortgage loans Very low closing ,costs It's easy to qualify1 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 to qualify for first mortgage financing. 2) If you purchase a home in the Atlanta MSA: Barrow, Bartow. Butts, Carroll, Cherokee-, Clay.ton, . Cobb, coweta, ~awson~, ekalbD, ouglas, 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 $71,000 Three or more persons $82,000 You may qualify to purchasea homewith a sales priceof up to $250,000 3) If you purchasea 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 $61,000 Three or more persons $70,000 You may qualify to purchase a homewith a sales price of up to $200,000. Rev. 9/09 Targeted Areas The Georgia Dream Homeownership Program is available to eligible first time home buyers in all counties of Georgia. However, if you purchase a home in one of the targeted areas listed below the first time home buyer rule may not apply. Check with your lender for program guidelines. Targeted Counties Appling Coffee Atkinson Colquitt Bacon Cook Baker Coweta Ben Hill Crawford Berrien Crisp Bleckley Decatur Brantley Dodge Brooks Dooly Bulloch Dougherty Burke Early Calhoun Echols Charlton Elbert Chattooga Emanuel Clay Evans Clinch Fannin Grady Greene Hancock Haralson Heard Irwin Jasper Jefferson Jenkins Johnson Lamar Lanier Laurens Lincoln Long Lowndes Macon Marion McDuffie Mclntosh Meriwether Miller Mitchell Montgomery Morgan Newton Oglethorpe Peach Pierce Polk Pulaski Quitman Randolph Schley Screven Stewart Sumter Talbot Taliaferro Tattnall Taylor Telfair Terrell Thomas Tift Toombs Treutlen Turner Twiggs Upson Ware Warren Washington Wayne Webster Wheeler Wilcox Wilkes Wilkinson Worth Counties with Targeted Census Tracts Bacon Carroll Baldwin County Clayton Ben Hill Cobb Bibb DeKalb Candler Dougherty Chatham County Floyd Clarke Fulton Glynn Hall Houston County Jeff Davis Liberty Lowndes Muscogee Richmond Seminole Spalding Tift Toombs Troup Counties Designated as Targeted until January 2010 due to storm damage Berrien Decatur Miller Wheeler Brantley Dougherty Mitchell Worth Brooks Echols Pierce Coffee Lanier Tift Colquitt Lowndes Ware I now ao I apply-! 1) Contact a Georgia Dream ParticipatingLender for pre-qualificationand to beginthe mortgage loan process. 2) Attend homebuyer education to learn more about buying and owning a home. To locate a Participating Lender in your community or for additional informationand current rates visit our website at www.dcaloans.com or call I-800-359-HOME (4663). Georgia Dream offers various down payment financing options to help you with the costs associated with purchasingyour home. -5 I Georgia Dream Second Mortgage Loan Financing 1 Georgia Dream Second Mortgage financing must be used in conjunction with a Georgia Dream First Mortgage Loan. Eligible borrowerswill: I ) Havea total annual householdincomethat does not exceed the limits for the applicable program based on the number of persons living in the home and the locationof the home 2) Complete Home Buyer Education with a I ; DCA Home Buyer Education partner listed in this brochure or any HUD approved housing counseling agency. www.hud.gov 3) Meet the guidelines of the applicable program I Loan Income Limits for Down Payment Options 1 County Statewide Banks, Camden Bibb, Crawford, Jones, Peach, Twiggs Brantley, Butts, Glynn, Mclntosh Bryan, Chatham, Effingham Burke, Columbia, McDuffie, Richmond Catoosa, Dade, Walker Clarke, Madison, Oconee, Oglethorpe Hall Houston Jackson Lamar Lumpkin Monroe Morgan Atlanta Area Counties* 1 person 30050 31250 30800 31300 33050 31100 31450 31650 33400 36800 31900 30250 32200 35650 32050 40150 2 persons 34350 35700 35200 35800 37750 35500 35900 36150 38150 42050 36500 34550 36800 40750 36600 45900 3 persons 38650 40200 39600 40250 42500 39950 40400 40700 42950 47300 41050 38900 41400 45850 41200 51600 4 persons 42950 44650 44000 44700 47200 44400 44900 45200 47700 52550 45600 43200 46000 50950 45750 57350 5 persons 46400 48200 47500 48300 51000 47950 48500 48800 51500 56750 49250 46650 49700 55050 49400 61950 'AtlantaArea Counties:Banow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, Dekalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, Walton. (Please note these counties are not the same as the Atlanta MSA) Down Payment Options Eligl~leborrowers may choosefrom these loan programsfor assistancewith down payment, and closing costs associated with purchasing a home. These second mortgage loans offer: No interest No monthly payments Nopaymentdue untilhomeis sold, refinancedor no longerused asthe borrower's principalresidence. Eligible borrowers will: 1) Have a total annual household income that does not exceed the limits on the chart on the facing page based on the number of persons living in the home and the location of the home 2) Contributea minimumof $500 of their own funds towards the purchasetransaction STANDARD All eligible homebuyers $5,000 PEN Eligible homebuyers who are employed by entities that provide public protection (including the military), health care, or education. CHOICE Eligible homebuyers whose household includes an individual living with a disability Loan Amount Atlanta MSA Income Limit Statewide Income Limit $7,500 $30,000 and over* $25,000 and over* $10,000 Less than $29,999 Less than $24,999 *Maximum income and sale price limits apply SIGNATURE COMMUNITY Eligible employees of local governments designated as Signature Communities $7,500 SINGLE FAMILY DEVELOPMENT Affordable homes constructed under this special development program $7,500 - $20,000 HOUSING CHOICE VOUCHER In addition to the down payment programsabove, eligible participants in the RentalAssistance program may use the value of their voucher for a portion of a monthly home mortgage payment. Homebuyer Education Agencies The following organizations provide one on one home buyer counseling andlor home buyer education seminars under contract with DCA. Other providers of home buyer education may be used. A list of HUD approved counseling agencies is available at www.hud.gov. ALBANY CCCS of Southwest Georgia** 229-883-09091 800-309-3358 www.cccsalbany.org City of Albany Departmentof Community & Economic Development* 229-430-5283 ATHENS ACTION, Inc.* 706-546-8293 Athens Land Trust* 706-613-0122 www.athenslandtrust.org East Athens Development Corp. 706-208-0048* www.eadcinc.com Hancock CDC'** 706-546-1154 ATLANTA Atlanta Co-op* 404-627-5920 The Atlanta Urban League* 404-659-1150 www.atlul.org Reynoldstown Revitalization Corp.* 404.525.4130 www.rrc-atl.org SUMMECH* 404-527-5456 AUGUSTA CCCS of the CSRA*' 706-736-2090 www.cccsaugusta.org East Central Georgia Partnership* 706-364-7842 CSRA EOA*** 706-722-0493 BLAKELY Early County CDC* 229-724-7552 BRUNSWICK Coastal GA CAA* 912-264-3281 Totally Free, Inc.*** 912-265-1515 CARTERSVILLE Housing & Development Corporation of Bartow County* 770-382-1414 www.hdcofbartoww.org COLUMBUS CCCS of West Georgia*** 706-327-32391 800-757-2227 Neighborworks Columbus*** 706-324-4663 www.nwcolumbus.org Urban League of Greater Columbus* 706-323-3687 CORDELE Southwest GA United EmpowermentZone* 229-268-7592 DALTON DaltonlWhiffieldCDC** SpanishlBilingual Counselors 706-281-4804 DARIEN Mclntosh Sustainable and Economic Development (SEED)* 912-437-7821 'workshops "counseling '"workshops & counseling REV. 7/09