Clayton County Down Payment Assistance

Clayton County Down Payment Assistance is a forgivable loan for homebuyers in Clayton County, Georgia. The Clayton County Down Payment Assistance Program provides eligible first-time homebuyers with up to $7,500 (or up to $10,000 for veterans, Clayton County employees, law enforcement, first responders, healthcare workers, and educators) in down payment assistance. The assistance is structured as a 0% interest soft second loan that is fully forgiven after 5 years ($7,500) or 10 years ($10,000) of owner-occupancy. Applicants must meet HUD income limits at 80% AMI or below, work with a HUD-certified lender, and complete an 8-hour HUD-approved homebuyer education class. The property must be located in Clayton County with a maximum purchase price of $270,000. Up to $7,500 in forgivable 0% interest assistance for eligible first-time homebuyers at 80% AMI or below in Clayton County. up to $10,000 for veterans/military spouses, Clayton County employees, law enforcement, first responders, healthcare workers, and educators. loan fully forgiven after 5 years ($7,500) or 10 years ($10,000) of owner-occupancy. maximum purchase price $270,000. requires HUD-approved 8-hour homebuyer education class and HUD-certified lender. Funding comes from Local Government.

Clayton County Down Payment Assistance offers between $7,500 and $10,000 in assistance, depending on the award tier a homebuyer qualifies under. Award tier “Standard” — up to $7,500. Who qualifies: All eligible first-time homebuyers at 80% AMI or below in Clayton County. Award tier “Enhanced” — up to $10,000. Who qualifies: Veterans/military spouses, Clayton County employees, law enforcement, first responders, healthcare workers, and educators. The program asks homebuyers to contribute $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.

Clayton County Down Payment Assistance 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.

Clayton County 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: must meet lender minimum. A homebuyer education course is required. Residency requirement: County Resident. Higher amounts for veterans/spouses, county employees, law enforcement, first responders, healthcare workers, educators.

Clayton County 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.

Clayton County Down Payment Assistance caps the purchase price at $270,000. Eligible property types include Single Family, Condo, Townhouse, and New Construction. New construction is eligible.

Clayton County Down Payment Assistance serves homebuyers purchasing in Clayton County, Georgia.

Applications for Clayton County 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.