Atlanta Housing Down Payment Assistance

Atlanta Housing Down Payment Assistance is a forgivable loan for homebuyers in Atlanta, Georgia. Atlanta Housing offers up to $20,000 (or $25,000 for public safety, healthcare, education, current military or veteran, and Voucher Participants) in forgivable down payment assistance for eligible first-time homebuyers purchasing within the City of Atlanta. The 0% interest deferred loan requires no monthly payments and is fully forgiven after 10 years of owner-occupancy. Buyers must contribute at least $1,500 from their own funds. Up to $20,000 forgivable loan at 0% interest for eligible first-time homebuyers within City of Atlanta. up to $25,000 for public safety, healthcare, education, current military or veteran, and Voucher Participants. loan forgiven after 10 years as a second mortgage. max purchase price $375,000. min $1,500 borrower contribution. liquid assets must not exceed $35,000. Funding comes from Local Government.

Atlanta Housing Down Payment Assistance offers between $20,000 and $25,000 in assistance, depending on the award tier a homebuyer qualifies under. Award tier “Standard” — up to $20,000. Who qualifies: All eligible borrowers at or below 80% AMI within City of Atlanta. Award tier “Public Service Enhanced” — up to $25,000. Who qualifies: Public safety, healthcare, education, current military or veteran, and Voucher Participants within City of Atlanta. The program asks homebuyers to contribute $1,500. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Atlanta Housing Down Payment Assistance is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, No Longer Primary, Transfer of Title, and Refinance. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Atlanta Housing Down Payment Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Must not have owned a home in the past 3 years. On credit, the program states: Applicants must meet the primary lender's credit requirements; Atlanta Housing does not publish a minimum score. A homebuyer education course is required. Residency requirement: Georgia resident for at least 6 months prior to application. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Property must be within City of Atlanta limits, Higher award for public safety, healthcare, education, current military or veteran, and Voucher Participants, Purchases involving non-occupant co-borrowers or co-signers are not eligible, and Homebuyer education is an eight-hour class from a HUD-approved provider, required for every person on the.

Atlanta Housing Down Payment Assistance limits household income to 80% of the area median income, which varies by county and household size. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Atlanta Housing Down Payment Assistance caps the purchase price at $375,000. Eligible property types include Single Family, Condo, and Townhouse. New construction is eligible.

Atlanta Housing Down Payment Assistance names veterans, active-duty service members, educators, law enforcement officers, firefighters, and healthcare workers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Atlanta Housing Down Payment Assistance serves homebuyers purchasing in Atlanta, Georgia.

Applications for Atlanta Housing Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.