Georgia Dream Program : Homeownership program

GEORGIA DREAM PROGRAM
Homeownership Program

The Georgia Dream Homeownership Program
makes it possible with affordable mortgage financing for eligible home buyers.

Have you dreamed of owning your own home?

Georgia Dream Loans are available to:

first-time home buyers
those who have not owned a home in the past three years
those who purchase a home in targeted areas (please see map on
page 5)

WHO ALSO

have household incomes below the maximum
(please see schedule on page 2)
have liquid assets no more than $20,000 or 20% of the sales price
(whichever is greater)
meet mortgage loan credit requirements

The loans are 30 year, fixed interest rate mortgages. Local lenders give credit

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approval for FHA, USDA-RD, VA or conventional eligible mortgage loans.

Maximum Household Income & Home Sales Price

If you purchase a home in one of the following counties:

Barrow, Bartow, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Heard, Henry, Houston, Jasper, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties

Total Household Income
can be no more than:
(based on the number of people living in the home)

1-2 persons 3+ persons

$69,000* $79,500*

If you purchase a home in a county not listed in the box to the left:
Total Household Income
can be no more than:
(based on the number of people living in the home)
1-2 persons $59,500* 3+ persons $68,500*

Home Sales Price
cannot exceed $250,000

Home Sales Price
cannot exceed $200,000

* Income limits are subject to change. Please visit www. gadream.com for the most recent brochure.

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Down Payment Assistance
Borrowers who qualify for the Georgia Dream Program benefit from down payment assistance.

The greatest hurdle for many prospective home buyers is the down payment.

Down Payment Loan Options

STANDARD All eligible home buyers qualify for $5,000
PEN Eligible home buyers who are employed in qualified public protection, military, health care or education qualify for $7,500

The Borrower must:
contribute a minimum of $1,000 to the purchase transaction.

CHOICE Eligible home buyers whose household includes an individual living with a disability qualify for $7,500 3

Contact a Georgia Dream Participating Lender for pre-qualification and to begin the mortgage loan process. A list of lenders can be found at www.gadream.com or by calling 1-800-359HOME (4663).

How Do I Apply?

Homebuyer counseling is required for ALL Georgia Dream Loans.

Borrowers must attend and complete either a homebuyer education workshop, OR individual housing counseling sessions, OR an online homebuyer education course through E-Home America.
Workshops and counseling sessions must be completed with a DCA or HUD approved housing counseling agency.

Online Home Buyer Education may be completed ONLY at www.ehomeamerica.org.
A list of HUD approved agencies is available at www.hud.gov or call HUD's interactive voice system at 1-800-569-4287.
A list of DCA agencies is available at www.gadream.com.

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The Georgia Dream

Homeownership

Program is available

to eligible first time home buyers in all Georgia counties.

However, if you purchase a home in one of the targeted areas shaded in green on the

map below, or in a targeted

census tract in one of the

counties listed in the box below

the map, you do not have to be

Dade

Catoosa

Whitfield

Walker

Murray

Fannin Gilmer

Chattooga

Gordon

Pickens

Floyd

Bartow

Cherokee

Towns

Union

Rabun

Lumpkin
Dawson Forsyth

White Hall

Habersham
Stephens Franklin
Banks
Jackson Madison

a first time home buyer. Check with your lender for program guidelines.
Hart
Elbert

Polk Haralson
Carroll

Cobb Paulding

Gwinnett Barrow

Douglas

Fulton

DeKalb

Walton

Rockdale

Coweta

Clayton Henry Fayette

Newton Jasper

Clarke Oglethorpe Oconee

Wilkes

Lincoln

Greene Morgan
Putnam

Taliaferro Warren

McDuffie

Columbia Richmond

Heard

Spalding Butts

Hancock

Glascock

Troup

Pike Meriwether

Lamar

Jones

Baldwin

Jefferson

Burke

Harris

Upson Talbot

Monroe
Bibb Crawford

Washington

Wilkinson

Johnson

Jenkins

Screven

Muscogee
Chatta- Marion hoochee

Taylor

Peach

Twiggs

Macon

Houston Bleckley

Laurens

Schley

Pulaski

Dodge

Emanuel

Treutlen

Candler

Bulloch

Montgomery

Evans

Effingham

Stewart

Webster Sumter

Quitman

Terrell

Lee

Randolph

Dooly Crisp

Wilcox

Wheeler Telfair

Turner

Ben Hill

Jeff Davis

Toombs Tattnall
Appling

Bryan
Liberty Long

Chatham

Clay Calhoun

Dougherty

Early Miller

Baker Mitchell

Worth Colquitt

Tift

Irwin

Coffee

Berrien

Atkinson

Cook

Lanier

Bacon Pierce

Wayne

Ware

Brantley

McIntosh Glynn

Seminole Decatur

Grady

Thomas

Brooks Lowndes

Clinch Echols

Charlton

Camden

Baldwin Bibb

Glynn Hall

Candler

Houston

The following counties are not Targeted but have some Targeted Census Tracts.
(Contact your lender for a list of targeted tracts in these counties.)

Carroll Chatham Clarke Clayton Cobb DeKalb Floyd Fulton

Jeff Davis Liberty Muscogee Richmond Seminole Spalding Troup

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The Georgia Department of Community Affairs is committed to providing all persons with equal access to its services, programs, activities, education, and employment regardless of race, color, national origin, religion, sex, familial status, disability, or age. For a reasonable accommodation, email fairhousing@dca.ga.gov.
REV. 1/15
How can we help?
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Fulfilling the dream of Homeownership

60 Executive Park South, NE Atlanta, GA 30329 www.dca.ga.gov