INTERESTED IN BUYING A HOME?
The Atlanta Housing Homeownership Program offers down payment assistance to first-time homebuyers who meet the eligibility requirements and the primary lender’s lending requirements and approval. The eligibility requirements include, but are not limited to, the home buyer must be a 1st time home buyer and not have owned a home within the past three years. The property being purchased must be within the City of Atlanta and can either be a single family detached, condominium or townhome unit.
The home buyer must complete an eight-hour Homebuyer Education Class, from a HUD-approved Home Buyer Education Counseling Provider and receive a certificate of completion before loan closing; and must meet the primary lender’s loan credit requirement and lender loan approval for the first mortgage financing. In addition to proof of being a Georgia resident for not less than six months, the home buyer’s income cannot exceed 80% of the HUD MSA Area Median Income (also known as AMI). If all of the eligibility requirements are met, a 1st time home buyer may receive up to $25,000 in down payment assistance which can be used to reduce the first mortgage loan amount and/or used to help pay the loan closing costs.
The AH DPA can also be used in conjunction with other local DPA sources, if approved. For more information on all of the eligibility requirements, HUD-approved HBE Providers and Lenders for the AH DPA Homeownership Program, you can visit our website at https://www.atlantahousing.org/housing-programs/down-payment-assistance/.
