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.

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.

Augusta Homeownership Assistance Program is forgiven after 5 years, so a homebuyer 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.

Augusta Homeownership Assistance Program 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; displaced homemakers and single parents also eligible. A homebuyer education course is required. Residency requirement: City Resident. Property must be located within Augusta-Richmond County. Must complete a HUD-approved homebuyer education course prior to closing.

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.

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

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

Applications for Augusta Homeownership Assistance Program 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.