Down Payment Assistance Programs in Georgia

Down Payment Assistance products offered in Georgia include: DeKalb County DPA, DeKalb County Workforce Enhancement Program, Georgia Dream Program, Gwinnett County, Within Reach Program, and the Chenoa Program. To see which program may be right for you, get started on your application today!

DeKalb County Down Payment Assistance

Availability: Georgia

Description

The DeKalb County DPA offers a down payment assistance second mortgage for first time homebuyers purchasing a property located in DeKalb County.

Features

  • Down payment assistance up to $8,000
  • 30-year fixed term with full amortization on the first mortgage
  • Conventional, FHA and VA loan types available
  • Homebuyer education course is required
  • Credit and income restrictions may apply

Invest Atlanta, City of Atlanta

Availability: Georgia

Description

This program is available to home buyers in the City of Atlanta, Georgia.

Features

  • 30-year fixed term with full amortization on the first mortgage
  • Conventional, FHA and USDA loan types available
  • Homebuyer education course is required
  • Credit and income and property location restrictions may apply

Georgia Dream Program

Availability: Georgia

Description

The Georgia Dream Program provides affordable mortgage financing for low and moderate income homebuyers.

Features

  • Standard program down payment assistance up to $5000
  • Other options available
  • 30-year fixed term with full amortization on the first mortgage
  • FHA, VA, and USDA loan types available
  • Credit and income restrictions may apply

Gwinett County

Availability: Georgia

Description

Down payment assistance options are available to properties located in Gwinett County.

Features

  • Down payment assistance up to $7,500
  • 30-year fixed term with full amortization on the first mortgage
  • Conventional and FHA loan types available
  • Homebuyer education course required
  • Credit and income restrictions may apply

Within Reach Program

Availability: Georgia

Description

The Within Reach Program is a second, forgivable mortgage and is available in Georgia.

Features

  • Down payment assistance up to 4.5% of the note amount
  • 30-year fixed term with full amortization on the first mortgage
  • FHA and USDA loan types only
  • Homebuyer education course is required
  • Credit and income restrictions may apply

CHENOA Fund Program

Availability: Nationwide

Description

The CHENOA Fund Program is available in Georgia.

Features

  • Down payment assistance up to 3.5% of the purchase price or appraised value, whichever is less
  • 30-year fixed term with full amortization on the first mortgage
  • FHA loan types only
  • Homebuyer education course NOT required
  • Credit and income restrictions may apply

Some program restrictions and requirements apply. Loan program availability is subject to change without notice. Some programs may have a first-time homebuyer requirement. The type of DPA and lien position will vary for each loan program. ONQ0405180681Y000003h5S2

Loan down payment example is based on a 30 year fixed conventional mortgage loan with 4.0% down (provided through the Down Payment Assistance program). Amounts are based on loan amount of $200,000, interest rate of 5.375%, APR of 6.190%, $6,551 due from borrower at closing ($8,000 down payment paid through down payment assistance program). Approximate monthly payment of $1525. All amounts shown are estimates provided for educational and comparison purposes only and will vary for each loan. Borrower will be responsible for down payment beyond what is provided by the program as well as any fees and costs associated with the loan. Down payment assistance may come in the form of a forgivable or non-forgivable lien. Income and geographic restrictions apply. Homebuyer education may be required for certain payment assistance programs. Program availability is subject to change without notice. Additional restrictions may apply. On Q Financial, Inc. is an Equal Housing Lender. Loan amounts and fees will vary based on program used. Loan Amounts on FHA Scenario’s include an FHA 1.75% upfront fee. Loan Amounts on VA scenario’s include a 2.15% VA Funding Fee (Based on Regular Military 1st time usage)-No down payment required unless sales price exceeds appraised value. A USDA Guarantee fee will be charged and financed into the loan. The USDA Guarantee Fee is 1% of the loan amount and the USDA Annual Fee is 0.35% as of 06/01/2018. The USDA Annual Fee is to be paid monthly as part of the mortgage payment.