Question 1

What is City of Savannah Employee Home Purchase Assistance?

Accepted Answer

City of Savannah Employee Home Purchase Assistance is a forgivable loan for homebuyers in Savannah, Georgia. The City of Savannah Employee Home Purchase Assistance Program is a 0% interest, 5-year forgivable second-lien loan of up to $15,000 administered by the City of Savannah Housing & Neighborhood Services Department for the purpose of helping qualified City of Savannah employees (below the level of department head, in good standing) purchase their first home within the city limits. The forgiven amount is reported as W-2 income to the employee. The loan can be combined with DreamMaker DPA funds if the buyer is also DreamMaker-eligible. Property must pass private inspection and a City Construction Specialist inspection prior to commitment letter. Pre-1978 homes cannot have defective paint. Up to $15,000, 0% interest, forgivable loan toward down payment and closing costs. Loan is forgiven and not repaid if the buyer continues to work for the City of Savannah and continues to be the owner-occupant of the house for 5 years from the date of the loan. The forgiven amount is reported as income on the employee's annual W-2. Funding comes from City of Savannah General Fund (employer-paid benefit) administered through HOME/CDBG framework.

Question 2

How much assistance does it provide?

Accepted Answer

City of Savannah Employee Home Purchase Assistance offers up to $15,000 in assistance. Buyer contribution: No published minimum buyer contribution; combination with DreamMaker may impose $1,000. 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.

Question 3

Do you have to pay it back?

Accepted Answer

City of Savannah Employee Home Purchase Assistance is forgiven after 5 years, so a buyer who stays that long does not repay it. Repayment is triggered by Within the 5-year affordability period: cessation of City employment, sale or transfer of title, refinance with cash-out, or failure to occupy as primary residence triggers repayment of the unforgiven balance. Loan is fully forgiven on the 5th anniversary if the buyer remains a City employee and the owner-occupant. The assistance is recorded in 2 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Question 4

Who qualifies?

Accepted Answer

City of Savannah Employee Home Purchase Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer required (consistent with DreamMaker family of programs); applicant must not own other residential property. On credit, the program states: 640+ FICO required (per program tracking). A homebuyer education course is required, through Homeownership/homebuyer education course required (City of Savannah HUD-approved counseling agency network). Residency requirement: Property must be located within City of Savannah city limits. Restricted to employees of the City of Savannah who are below the level of department head. Employee must be in good standing and without recent disciplinary actions at time of purchase. Property must be located within the City of Savannah city limits and cannot be occupied at time of application unless occupant is buyer or seller. Pre-1978 homes cannot have defective paint at inspection. Private inspection required; City of Savannah Construction Specialist inspection required prior to issuance of funding commitment letter; required repairs must be completed by seller and confirmed by City staff before commitment letter issued. Forgiven amount is reported as income on annual W-2. Assistance can be used in combination with DreamMaker assistance if buyer is also DreamMaker-eligible. Buyer must qualify for first-mortgage financing on competitive terms. RESTRICTED EMPLOYER: only City of Savannah employees may apply.

Question 5

What are the income limits?

Accepted Answer

City of Savannah Employee Home Purchase Assistance sets its income limit as follows: No published household income limit; eligibility is restricted to City of Savannah employees below department head level. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Question 6

What kind of home can it be used for?

Accepted Answer

City of Savannah Employee Home Purchase Assistance caps the purchase price as follows: No published maximum purchase price; property must be located within City of Savannah limits and meet program standards. Eligible property types include New and existing single-family houses in good condition that comply with program requirements and property must be located within Savannah city limits. New construction is eligible.

Question 7

Where does it apply?

Accepted Answer

City of Savannah Employee Home Purchase Assistance serves buyers purchasing in Savannah, Georgia.

Question 8

How do you apply?

Accepted Answer

Applications for City of Savannah Employee Home Purchase Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Employee contacts HNSD at (912) 651-6926 or employeedownpayment@savannahga.gov to schedule appointment, then completes application with HNSD before contracting; ongoing year-round subject to fund availability. 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.

City of Savannah Employee Home Purchase Assistance