Augusta Homeownership Assistance Program

What is Augusta Homeownership Assistance Program?

Augusta Homeownership Assistance Program is a forgivable loan for homebuyers in Augusta, Georgia.

• The Augusta Homeownership Assistance Program provides eligible first-time homebuyers with up to $5,000 in deferred-payment down payment and closing cost assistance to purchase a home within Augusta-Richmond County. The assistance is provided as a 0% interest deferred loan, forgiven after 5 years if the borrower continues to own and occupy the property as their primary residence. The program is administered by the City of Augusta's Housing and Community Development (HCD) department using federal HOME funds.
• Up to $5,000 in forgivable assistance for down payment and closing costs.
• 0% interest deferred loan forgiven after 5 years if property remains primary residence.
• available to first-time homebuyers (including displaced homemakers and single parents) at 80% AMI or below in Augusta/Richmond County.
• Funding comes from Local Government.

How much assistance does it provide?

Augusta Homeownership Assistance Program offers up to $5,000 in assistance.

• 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.

Do you have to pay it back?

Augusta Homeownership Assistance Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, No Longer Primary, and Transfer of Title.
• 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.

Who qualifies?

Augusta Homeownership Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Augusta Homeownership Assistance Program 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.

What kind of home can it be used for?

Augusta Homeownership Assistance Program can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Augusta Homeownership Assistance Program serves buyers purchasing in Augusta, Georgia.

How do you apply?

Applications for Augusta Homeownership Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.