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 1 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. 2 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. 4 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 5 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? 6 Fulfilling the dream of Homeownership 60 Executive Park South, NE Atlanta, GA 30329 www.dca.ga.gov