Georgia Dream Homeownership Program [June 2010]

Do you dream of owning a home? DCA can help make your dream a reality!

The Georgia Dream Homeownership Program provides affordable first mortgage financing and down payment assistance to eligible Georgia home buyers.
Here's how we can help you...

Georgia Dream First Mortgage Loan Financing

30 year low fixed interest rate mortgages Local lender approval for FHA, USDA-RD, VA
or conventional mortgage loans Very low closing costs
It's easy to qualify!
1) Y ou must be a first time home buyer 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, Clayton, Cobb, 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 $71,000 Three or more persons $82,000
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 $61,000 Three or more persons $70,000
You may qualify to purchase a home with a sales price of up to $200,000.

Georgia Dream Rewards

Borrowers with annual household incomes that do not exceed those listed above may qualify for $5,000 - $7,500 in down payment assistance. See Georgia Dream Rewards on page 4 for details.

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Rev. 2/10

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 Atkinson Bacon Baker Ben Hill Berrien Bleckley Brantley Brooks Bulloch Burke Calhoun Charlton Chattooga Clay Clinch

Coffee Colquitt Cook Coweta Crawford Crisp Decatur Dodge Dooly Dougherty Early Echols Elbert Emanuel Evans Fannin

Targeted Areas

Grady Greene Hancock Haralson Heard Irwin Jasper Jefferson Jenkins Johnson Lamar Lanier Laurens Lincoln Long Lowndes

Macon Marion McDuffie McIntosh 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

Federal Disaster Areas 2009 Floods For a limited time the 21 counties designated as disaster areas as a result of the 2009 floods are considered targeted areas. Borrowers in those counties do not have to be first time home buyers and are eligible for Georgia Dream Rewards down payment assistance with increased purchase price limits and higher income limits. (See Seller Guide Section 302.14)

How do I apply?
1) Contact a Georgia Dream Participating Lender for pre-qualification and to begin the mortgage loan process.
2) A ttend home buyer education to learn more about buying and owning a home.
To locate a Participating Lender in your community or for additional information and current rates
visit our website at www.dcaloans.com or call 1-800-359-HOME (4663). 2

Georgia Dream offers various down payment financing options to help you with the costs associated with purchasing your home.
Georgia Dream Second Mortgage Loan Financing
Georgia Dream Second Mortgage financing must be used in conjunction with a Georgia Dream First Mortgage Loan. Eligible borrowers will:
1) H ave a total annual household income that does not exceed the limits for the applicable program based on the number of persons living in the home and the location of the home
2) C omplete Home Buyer Education with a DCA Home Buyer Education partner listed in this brochure or any HUD approved housing counseling agency. www.hud.gov
3) M eet the guidelines of the applicable program

Loan Income Limits for Down Payment Options

County
Statewide Banks, Camden Bibb, Crawford, Jones, Peach, Twiggs Brantley, Butts, Glynn, McIntosh 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

*Atlanta Area Counties: Barrow, 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) 3

Down Payment Options
Eligible borrowers may choose from these loan programs for assistance with down payment, and closing costs associated with purchasing a home. These second mortgage loans offer:
No interest No monthly payments No payment due until home is sold, refinanced or no longer used as the borrower's principal
residence.
Standard, PEN, CHOICE and Signature Community borrowers will:
1) H ave a total annual household income that does not exceed the Loan Income Limits for Down Payment Options on page three
2) Contribute a minimum of $500 of borrower funds to the purchase transaction
STANDARD All eligible home buyers $5,000
PEN Eligible home buyers who are employed by entities that provide public protection (including the military), health care, or education. $7,500
CHOICE Eligible home buyers 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
GEORGIA DREAM REWARDS As a reward for higher credit scores and to encourage savings, eligible borrowers will:
1) Have a total annual household income that does not exceed the Georgia Dream First Mortgage Loan Financing Limits on page one
2) M ay retain cash assets up to the greater of $20,000 or 20% of the purchase price 3) Contribute a minimum of $1,000 of borrower funds to the purchase transaction.
$5,000 if sales price is $150,000 or less $7,500 if sales price is greater than $150,000
SINGLE FAMILY DEVELOPMENT Affordable homes constructed under this special development program $7,500 - $20,000
HOUSING CHOICE VOUCHER In addition to the down payment programs above, eligible participants in the Rental Assistance program may use the value of their voucher for a portion of a monthly home mortgage payment.
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Homebuyer Education Agencies
The following organizations provide one on one home buyer counseling and/or 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** 229-883-0909/ 800-309-3358 www.cccsalbany.org
City of Albany Department of Community & Economic Development* 229-430-5283
ATHENS Athens Land Trust* 706-613-0122 www.athenslandtrust.org

BLAKELY Early County CDC* 229-724-7552
BRUNSWICK Coastal GA CAA* 912-264-3281
Totally Free, Inc.*** 912-265-1515
Southeast Georgia CDC *** 912-261-1898

East Athens Development Corp.* 706-208-0048 www.eadcinc.com
ATLANTA ACE Development * 404-627-5920
Fulton County Housing Authority * 404-588-4950 www.hafc.org
Resources for Residents and Communities*** 404.525.4130 www.nc.atl.org
SUMMECH CDC* 404-527-5465
The Atlanta Urban League** 404-659-1150 www.atlul.org
AUGUSTA CSRA EOA*** 706-722-0493
HomeFirst Augusta*** 706-823-5809 706-955-6849

CARTERSVILLE Housing & Development Corporation of Bartow County* 770-382-1414 www.hdcofbartowco.org
COLUMBUS CCCS of West Georgia*** 706-327-3239/ 800-757-2227
Neighborworks Columbus*** 706-324-4663 www.nwcolumbus.org
Urban League of Greater Columbus* 706-323-3687
CORDELE Southwest GA United Empowerment Zone* 229-268-7592
DALTON Dalton/Whitfield CDC** Spanish/Bilingual Counselors 706-281-4804
DECATUR DeKalb Metro Housing Counseling*** 404-508-0922

Promiseland * 706-560-1022 www.promiseland1.org

Women Watch Afrika, Inc. African/Bilingual Counselors 404-759-6419

*workshops ** counseling *** workshops & counseling REV. 1/10
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DORAVILLE The Center for Pan Asian Community Services*** Asian/Bilingual Counselors 706-936-0969 www.cpacs.org
FOREST PARK The D & E Group* 770-961-6900 www.depower.org
FORT VALLEY Fort Valley State University* 478-825-6954
GAINESVILLE Home Development Resources*** Spanish/Bilingual Counselors 770-297-1800
GRIFFIN Affordable Housing Enterprises* 770-412-0595
HAMPTON National Housing Counseling Agency* 770-477-5100
HINESVILLE City of Hinesville* 912-876-3164
JC Vision & Associates*** 912-877-4243 Spanish/Bilingual Counselors www.jcvision.com
LAGRANGE DASH for Lagrange, Inc* 706-298-0221 ext 105 www.dashlagrange.com

MARIETTA Marietta Housing Authority*** 770-419-5143
NASHVILLE Nashville Neighborhood Freedom Center* 229-543-2814
ROME Appalachian Housing Counseling Center* 706-378-9917
SAVANNAH CCCS of Savannah*** 912-691-2227/800-821-4040 www.cccssavannah.org
Neighborhood Improvement Association* 912-447-5577 www.niacdc.org
STONE MOUNTAIN Refugee Family Assistance Program ** Arabic/Bilingual Counselors 404-296-8743
THOMASVILLE RMI Ministries* 229-228-6888
VALDOSTA Valdosta-Lowndes Habitat* 229-245-1330 www.valdostahabitat.org
A Home of My Own*** 229-506-9395
VIENNA Southwest Georgia United Empowerment Zone, Inc.* 229-268-7592

LAWRENCEVILLE The IMPACT Group*** Spanish/Bilingual Counselors 678-808-4477 www.theimpactgroup.org

WASHINGTON City of Washington*** 706-678-3277

MACON CCCS of Middle Georgia** 478-745-6197/800-446-7123 www.cccsmacon.org

HomeFirst Housing Resources*** 478-803-2373
*workshops ** counseling *** workshops & counseling REV. 1/10
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60 Executive Park South, NE Atlanta, GA 30329-2231
Equal Housing Opportunity
Fulfilling the Dream of Homeownership