Cobb County My Home Down Payment Assistance

Cobb County My Home Down Payment Assistance is a grant for homebuyers in Cobb County, Georgia. The Cobb County My Home Down Payment Assistance Program offers eligible homebuyers a non-repayable grant of 0%, 1%, or 2% of the first mortgage note amount for use toward down payment and closing costs. No first-time homebuyer requirement. County employees may qualify for an enhanced $10,000 grant. Non-repayable grant of 0%, 1%, or 2% of first mortgage note amount. No first-time homebuyer requirement. Available for down payment and closing costs. Enhanced $10,000 grant for qualifying Cobb County government employees. 30-year fixed rate first mortgage. Income limits apply by loan type (FHA/VA: $159,880. Freddie Mac HFA Advantage: $149,240). Funding comes from Local Government.

Cobb County My Home Down Payment Assistance is structured as a grant, so it is not repaid. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Cobb County My Home Down Payment Assistance is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 660 for FHA/VA; 640 for Freddie Mac HFA Advantage. A homebuyer education course is required, through Southeast Mortgage & Vanderbilt Mortgage and Finance, Inc. Residency requirement: No Requirement. Citizenship or immigration status: U.S. Citizen or Permanent Resident. A first-time buyer using the Freddie Mac HFA Advantage conventional loan will be required to attend the FREE Freddie Mac Credit Smart Homebuyer Education course, provided on-demand online. The course may also be conducted by a HUD-approved counseling agency including online HUD-approved non-profits using eHomeAmerica. Homebuyer education is not required for FHA and VA loans, but is highly recommended.

Cobb County My Home Down Payment Assistance sets its income limit as follows: FHA/VA: $159,880; Conventional (Freddie Mac HFA Advantage): $149,240. 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.

Cobb County My Home Down Payment Assistance caps the purchase price as follows: $498,257 for FHA; $766,050 for VA and Freddie Mac HFA Advantage. Eligible property types include Single Family, Condo, Townhouse, 2-4 Unit, and New Construction. New construction is eligible.

Cobb County My Home Down Payment Assistance serves homebuyers purchasing in Cobb County, Georgia.

Applications for Cobb County My Home Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. 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.